Marketplace

By Marketplace

Business

What's Marketplace about?

Every weekday, host Kai Ryssdal helps you make sense of the day’s business and economic news — no econ degree or finance background required. “Marketplace” takes you beyond the numbers, bringing you context. Our team of reporters all over the world speak with CEOs, policymakers and regular people just trying to get by.

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If faith is lost in our ful...

05.26.2023

The $24 trillion market for U.S. Treasurys — i.e., federal government debt — is the deepest and most liquid bond market in the world. It’s a linchpin of the global financial system and impacts consumer credit too. It also happens ...

Marketplace episodes:

05.26.2023 If faith is lost in our full faith and credit The $24 trillion market for U.S. Treasurys — i.e., federal government debt — is the deepest and most liquid bond market in the world. It’s a linchpin of the global financial system and impacts consumer credit too. It also happens ...
05.25.2023 Why don’t we know when the U.S. will run out of money? Treasury Secretary Janet Yellen says that a government debt default could happen “potentially as early as June 1.” Kinda wishy-washy, huh? Today, we’ll examine why the variability in government spending and revenue makes it hard to calculate an exact default ...
05.24.2023 Atlanta Fed CEO on the debt limit debacle and curbing inflation On today’s show, we’re joined by Raphael Bostic, president and CEO of the Federal Reserve Bank of Atlanta, to discuss tightening credit conditions, the necessity of raising the debt limit, and why “we’re right at the beginning of the hard ...
05.23.2023 What you miss when you miss watercooler conversations Remote work has its benefits — no commute, no awkward elevator chitchat, no frigid office temperatures. But that also means no socializing at the office, and many young people who entered the workforce during COVID-19 are missing out on building ...
05.22.2023 What’s really at the heart of the debt limit debate? Federal officials are running out of time to reach a deal on the debt ceiling. But at the heart of that debate, there’s a fundamental truth about money itself. In this special episode, we’ll hear from a businessperson, a political ...
05.19.2023 Companies go on a borrowing spree It’s been a busy month in the corporate bond market. And while you may think companies would hold off on borrowing right now given how much interest rates have risen, big mergers and the looming debt ceiling deadline could be ...
05.18.2023 Call 2023 the year of bankruptcies 2023 is on track to be the biggest year for Chapter 11 bankruptcy filings in over a decade. Some churn is always normal, but what’s behind this year’s bankruptcy boom? Also on the show, we look at how a debt ...
05.17.2023 Your next home might just be a new home Housing starts have ticked up recently. New homes have also been gobbling up an increasing share of the overall market, as current homeowners opt to stick with their low mortgage rates. Today, we examine the demand for new homes. We’ll ...
05.16.2023 Maybe reconsider those “normal” economic indicators April retail sales numbers are making an already confusing economy even more confusing. Folks are putting off purchasing big-ticket items, yet are still splurging on services. The economy hasn’t returned to normal, but maybe “normal” is different now. We’ll also ...
05.15.2023 Disappointed this tax season? So is the federal government. So far this fiscal year, the IRS has brought in about $2.7 trillion in tax revenue — $250 billion less than anticipated. That shortfall is part of what makes this week’s debt limit talks so urgent. Today, we sort through ...
05.12.2023 The FDIC is asking big banks to pay up When the Federal Deposit Insurance Corp. stepped in to make depositors whole after recent bank failures, the agency’s insurance fund took a $15.8 billion hit. So who’s on the hook to replenish it? If the FDIC has its way, it’ll ...
05.11.2023 When a strong economy fuels strong migration As the pandemic-era border policy Title 42 draws to a close today, an increasing number of migrants have arrived at the U.S.-Mexico border. Whatever their reasons for leaving their home countries, immigrants are drawn in part to the United States ...
05.10.2023 The death of revenge spending Inflation is wearing consumers down, and it’s starting to show. We’re saving less, putting more on plastic and seeking out discounts. On today’s show, we dissect consumer fatigue. Then, we’ll hear what it’s like working at a rural hospital during ...
05.09.2023 When are markets gonna react to the debt limit drama? Unless officials in Washington strike an agreement to raise the limit, the U.S. could default on its debt as soon as June 1. Wall Street has been taking all this in stride, but will that change, and when? Also on ...
05.08.2023 “I worry that people don’t think it can happen here” Last year, Marketplace met families of transgender children in Texas who were weighing their options when the state moved to restrict gender-affirming care. As more states target LGBTQ rights, we check back in with two families — one who moved ...
05.05.2023 Meet the folks prepping for an AI economic revolution Some aren’t saving for retirement, while others aren’t saving for or staying in college. Today we’ll hear from a handful of artificial intelligence true believers who think a revolution is inevitable and are preparing for a future — and economy ...
05.04.2023 Rough time to be a regional bank, amirite? The shares of multiple regional banks slid today amid new tremors in the industry following the collapse of First Republic. But bank failures and consolidation are actually somewhat normal. So what’s a regional bank to do? And what are investors ...
05.03.2023 Why 2008 financial crisis rules didn’t stop recent bank failures So many regulations came out of the 2008 financial crisis, and for a good while they seemed to work. Yet here we are with three bank failures in less than two months. What gives? Plus, we unpack what Federal Reserve ...
05.02.2023 When the dust settles, banking will look a bit different After three major bank failures, regulators and industry leaders are hoping all this turmoil fades in the rearview mirror. But there’s still likely to be curves on the road ahead: new regulation, industry consolidation, branch closures and loan scarcity. Today, ...
05.01.2023 What JPMorgan is getting out of the First Republic deal Banking giant JPMorgan Chase is taking over the failed First Republic Bank, but not without some guarantees. Turns out the deal was sweetened by the FDIC agreeing to be responsible for certain First Republic losses. Plus, what small banks are ...
04.28.2023 Short sellers have made bank betting on First Republic’s free fall First Republic Bank stock is down 97% in 2023, and this afternoon a takeover by the Federal Deposit Insurance Corp. looked imminent. Thing is, short sellers have made more than $1 billion betting that First Republic would fall. Is that ...
04.27.2023 How much longer can consumers save the day? That’s the trillion-dollar question right now. Gross domestic product expanded by 1.1% in the first quarter, continuing a downward trend. Consumers are still driving growth, but inflation is wearing on them. So where does the American economy go from here? ...
04.26.2023 Lael Brainard: The debt limit is not a tool for “extortion” On today’s show, Lael Brainard — the former vice chair of the Federal Reserve and current head of the National Economic Council — sits down with us to chat about fiscal policy, inflation, banking regulation and the looming debt ceiling ...
04.25.2023 Commerce Secretary Raimondo on chips, China and women in the workforce Congress passed billions in funding for semiconductor manufacturing last year. Today, we’re joined by Gina Raimondo — the woman in charge of distributing those funds — to dig into what is at stake. And later: Treasury proposes new regulations on ...
04.24.2023 All that space Bed Bath & Beyond will leave behind Sales of high-thread-count sheets and countertop appliances weren’t enough to save Bed Bath & Beyond, which filed for bankruptcy this weekend. What’s to become of all those soon-to-be-empty strip mall storefronts? Plus, why the dollar is dragging, what happened to ...
04.21.2023 As some retailers retreat, others pounce It’s a weird time for retailers. Some have announced layoffs and closures, while others are looking to expand their footprint. So what gives? Turns out, some stores are hoping to use this shaky economic moment to come out ahead during ...
04.20.2023 What it would take to address the nation’s debt Political squabbling about raising the debt limit is well underway. But to meaningfully address federal debts and yearly deficits would require big actions. Elected officials could raise taxes and chip away at things like defense spending, Social Security and Medicare ...
04.19.2023 Chicago Fed president on waiting for other “credit shoes to drop” The intensity of a possible economic slowdown will depend on how much banks tighten credit conditions, said Austan Goolsbee, president of the Federal Reserve Bank of Chicago, in an interview with Marketplace today. We’ll ask about data he’s watching closely ...
04.18.2023 Call it a sticky situation After this year’s banking crisis, some lenders have bumped up interest rates on savings accounts to lure new depositors. But if the hassle of switching banks makes you go, “ugh,” blame it on what economists call “deposit stickiness.” What would ...
04.17.2023 The price tag of those debt limit debates House Speaker Kevin McCarthy said today that “defaulting on our debt is not an option,” but neither he nor the White House shows signs of compromising. The last debt limit stalemates drove up the cost of government borrowing — and ...
04.14.2023 A choose-your-own-economy adventure We got seriously mixed signals from the consumer economy today. Retail sales dipped in March, while consumer sentiment ticked up. Is this economy headed for a soft landing or a cliff? Today, we parse the good, the bad and the ...
04.13.2023 The origin story of “too big to fail” The phrase “too big to fail” conjures images of the 2007-08 financial crisis. But the notion that the collapse of certain financial institutions could torpedo the larger economy goes back much further. On today’s show, we’ll trace the roots and ...
04.12.2023 You take the good, you take the bad … You take them both and you get the March inflation report. The consumer price index rose 5% year over year. That’s a decent “headline” number, but dig deeper and the story gets a little more complicated. Later: military recruitment, grocery ...
04.12.2023 How high mortgage rates impact the cost of rent You know what a lot of people do when mortgage rates are too high to buy? They stay renters. And despite slowing rent inflation, that additional demand for apartments can increase competition and boost rent prices. Today, we delve into ...
04.10.2023 When “add to cart” actually costs you less There’s some welcome news on the inflation front: Prices for online goods are falling, according to Adobe Analytics. While it’s a bit of relief for consumers, higher prices for things like services may be here to stay. Plus, how algorithms ...
04.07.2023 A food fight in the school cafeteria The U.S. Department of Agriculture is mulling new nutritional standards for school meals, and everyone’s got opinions — from the manufacturers who say the changes will make food pricier to the schools that would absorb the costs. Then there’s the ...
04.06.2023 A month after SVB, are banks lending? It’s been nearly a month since banking turmoil hit the headlines. While the government’s response has largely focused on insuring depositor funds, we’re starting to see signs that banks are pulling back on making loans. Plus, slowing wage gains, rising ...
04.05.2023 Your tax refund may shrink this year The countdown is on till Tax Day, which falls on April 18 this year. But many Americans will be in for an unpleasant surprise: a slimmer tax return resulting from expired pandemic tax credits. We’ll also examine why money market ...
04.04.2023 The labor market’s rebalancing act Job openings dropped in February, according to the Bureau of Labor Statistics. While that’s normally not great news, it could be a hint that the Federal Reserve’s interest rate hikes are beginning to take effect, cooling job growth and bringing ...
04.04.2023 What a production subtraction by OPEC+ means The OPEC+ cartel surprised markets this weekend with plans to cut oil production by more than 1 million barrels per day. This classic story of supply and demand has already pushed up the oil price, and it could have major ...
03.31.2023 The view from the Fed’s discount window Banks borrowed less from the Federal Reserve’s emergency lending programs this week than the week before, a sign that the threat of additional bank runs could be waning. One of those programs is called the discount window, and banks really ...
03.30.2023 A labor shortage may stall the clean energy transition The Inflation Reduction Act channels hundreds of billions of dollars into clean energy projects. But “electrifying America” could be short-circuited by the nationwide shortage of electricians. Today, we’ll hear from the companies and programs hoping to draw a new cohort ...
03.29.2023 A bumpy ride for mortgage rates means bumpy home sales Spring is when flowers, and For Sale signs, tend to start popping up. Today we learned that pending home sales rose for the third straight month in February, which seems puzzling given climbing interest rates. Could it signal a thawing ...
03.28.2023 Personal economies are the whole shebang On this program, we’ve discussed a somewhat confusing dynamic: Consumers are sour on the economy despite a job market that’s historically strong. Today, we’re joined by Washington Post columnist Catherine Rampell to help piece the puzzle together and tally inflation’s ...
03.27.2023 Let’s talk about (banking) trust issues Bank regulators will be heading to Capitol Hill this week, where they’re likely to be grilled by lawmakers over the recent banking turmoil. But they also have to reassure markets and the public that everything’s going to be all right ...
03.24.2023 Attention turns to bank examiners in SVB fallout The Federal Reserve will release a report by May 1 on what happened at Silicon Valley Bank. A key part will be how bank examiners, the government employees who monitor a bank’s safety and soundness, supervised SVB. Today, we’ll look ...
03.23.2023 Happy rate hike-iversary! Long gone are the good ol’ days when inflation was described as “transitory.” This month marks one year since the Federal Reserve started raising interest rates to curb inflation, and we chart the relationship between rates and prices, and take ...
03.22.2023 The Fed’s stress testing is put to the test One way the Federal Reserve oversees the banking system is through “stress tests,” which help determine whether banks can withstand economic disasters. But only the biggest banks are required to undergo these tests. Could Silicon Valley Bank’s collapse change that? ...
03.21.2023 Why bond prices fall as interest rates go up A simple economic phenomenon — that rising interest rates push bond values down — is part of what has weighed on financial companies like Silicon Valley Bank. We’ll take a closer look at the relationship and examine how the Federal ...
03.20.2023 Let the bank failure blame game begin The debacles that engulfed Silicon Valley Bank and other precarious financial institutions have sparked debates over who dropped the ball. Was it a regulatory failure, a supervisory failure, or both? On today’s show, we’ll parse out the answer. We’ll also ...

Older episodes

Marketplace

What's Marketplace about?

Download our free app to listen on your phone

Marketplace episodes:

If faith is lost in our full faith and credit

Why don’t we know when the U.S. will run out of money?

Atlanta Fed CEO on the debt limit debacle and curbing inflation

What you miss when you miss watercooler conversations

What’s really at the heart of the debt limit debate?

Companies go on a borrowing spree

Call 2023 the year of bankruptcies

Your next home might just be a new home

Maybe reconsider those “normal” economic indicators

Disappointed this tax season? So is the federal government.

The FDIC is asking big banks to pay up

When a strong economy fuels strong migration

The death of revenge spending

When are markets gonna react to the debt limit drama?

“I worry that people don’t think it can happen here”

Meet the folks prepping for an AI economic revolution

Rough time to be a regional bank, amirite?

Why 2008 financial crisis rules didn’t stop recent bank failures

When the dust settles, banking will look a bit different

What JPMorgan is getting out of the First Republic deal

Short sellers have made bank betting on First Republic’s free fall

How much longer can consumers save the day?

Lael Brainard: The debt limit is not a tool for “extortion”

Commerce Secretary Raimondo on chips, China and women in the workforce

All that space Bed Bath & Beyond will leave behind

As some retailers retreat, others pounce

What it would take to address the nation’s debt

Chicago Fed president on waiting for other “credit shoes to drop”

Call it a sticky situation

The price tag of those debt limit debates

A choose-your-own-economy adventure

The origin story of “too big to fail”

You take the good, you take the bad …

How high mortgage rates impact the cost of rent

When “add to cart” actually costs you less

A food fight in the school cafeteria

A month after SVB, are banks lending?

Your tax refund may shrink this year

The labor market’s rebalancing act

What a production subtraction by OPEC+ means

The view from the Fed’s discount window

A labor shortage may stall the clean energy transition

A bumpy ride for mortgage rates means bumpy home sales

Personal economies are the whole shebang

Let’s talk about (banking) trust issues

Attention turns to bank examiners in SVB fallout

Happy rate hike-iversary!

The Fed’s stress testing is put to the test

Why bond prices fall as interest rates go up

Let the bank failure blame game begin