Marketplace All-in-One

Inflation is the economic story of the day. And, even though it’s been percolating for over a year, last week the inflation story kicked into high gear with the Federal Reserve making big moves to get rising prices under control. So what changed, exactly?

For starters, a combination of reports showing the worse of inflation isn’t over and that consumers expect inflation to keep rising.

“And so, that was one of the reasons why we saw the Fed do, a bigger rate hike than they were originally expecting, said Victoria Guida, who covers the Federal Reserve for Politico. “It wasn’t just because they wanted to get interest rates up faster, it was also sort of a message to the American public: ‘Hey, we’re really serious about getting inflation back down. So, you know, don’t get it into your heads that inflation is going to stay this high forever.'”

On the show today: How the Fed miscalculated inflation, and why we may not know how well the Fed navigated this moment until years down the road. Plus, we’ll answer a couple of your inflation questions.

Later, we’ll discuss how companies are responding to inflation and the scale of China’s surveillance state.

Then, if you have a hard time remembering the weather in Celsius, a listener shares a hack that’ll make you sound smart in front of your friends. And an answer to the Make Me Smart question that has many of us nodding along.

Here’s everything we talked about today:

Join us tomorrow for Whaddya Wanna Know Wednesday. And if you’ve got a question you’d like us to answer in a future show, email us at [email protected] or leave us a voice message at (508) 827-6278 or (508) U-B-SMART.

The appointee is Marilynn Malerba, chief of the Mohegan Tribe of Connecticut. In her new role, Malerba will have the distinction of being the first Native American whose name will appear on U.S. currency. Lindsey Piegza of Stifel Financial joins us to discuss the markets. Homebuyers are still paying top dollar to live in high-tier school districts. 

A new study from the Wharton School of the University of Pennsylvania finds that 47.7% of workers are not covered by a retirement plan at work. The data also shows disparities based on race, gender, and education. Senior economics contributor Chris Farrell helps break down some of the information. President Biden is considering the suspension of the federal gas tax. The BBC reports on a massive workers strike that has halted railways in the U.K.

From the BBC World Service: Russia summons the EU ambassador after Lithuania’s blocks goods travelling by rail to Kaliningrad – a Russian exclave on the Baltic Sea. British train schedules are thrown into chaos this morning by the biggest strike of railways workers in three decades. And Thailand has recently legalized cannabis, sparking a boom in related businesses.

Bridget gets to know her new co-host, Ryan, who has a lot of fun ideas but doesn’t know much about money. They’ll work together on a question that quite a few listeners were wondering about: What are credit cards, besides little pieces of plastic with chips in them? Together, we’ll learn how grown-ups use credit cards and some potential pitfalls of swiping. Then things really get out of hand when the ghost pirates show up.

For a special cartoon, discussion questions and tips for parents, check out our website!

The French carmaker Renault had a surprise success in the early 2000s, when a low-cost car it designed for developing countries, the Logan, was a hit with low-income people in France. That car is still a strong brand for Renault almost two decades later. And the company boasts that a new Logan costs as much as a used car from other manufacturers. Now, a former Renault designer is developing a new car, the Gazelle, that’s even more radical: an electric vehicle that’s not just low-cost to produce and purchase, but it’s also pretty easy to assemble. In the Bordeaux region of of France, John Laurenson took a ride in this low-tech car.

Juneteenth commemorates the day enslaved Black Texans were informed of the Emancipation Proclamation, though it was years late. While the emancipation from slavery is nearly 160 years old, the economic emancipation of Black Americans is ongoing. Today, we’ll take a look at the structural and legal barriers that have prevented Black Americans from building wealth and what can be done to correct it. Plus, the still-hot housing market and the shortage of summer school teachers.

Released plans from Fannie Mae and Freddie Mac – the mortgage corporations backed by the government – target housing barriers in underserved communities. Julia Coronado drops in how the notion that crypto is a hedge against inflation has taken a hit. In the Netherlands, we take a look at how structures are being built with organic materials.

Cryptocurrency has had a rough ride over the weekend. Bitcoin dropped below a benchmark level on Saturday, then bounced back Sunday. Other cryptocurrencies have dropped as well. Part of the selloff deals with recession fears, but we discuss what else could happen. The surge in interest seen in Black-owned bookstores since the uproar over George Floyd’s 2020 murder has started to dissipate. Diabetics are sharing medicine and other items with each other due to the high price of insulin.

From the BBC World Service: Gustavo Petro, a former rebel fighter and now the president-elect of Colombia, has promised real economic change after winning 55% of the vote in Sunday’s election. A team from the International Monetary Fund has arrived in Sri Lanka and will begin talks today on the country’s dire economic crisis. In central Africa, there are fears that uncontrolled development is endangering one of the world’s largest peatlands – boggy territory that captures billions of tons of carbon dioxide.