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Jeff Bezos announced this week he’ll be stepping down from his role as CEO of Amazon. Andy Jassy, the head of Amazon’s cloud computing division, will take over later this year. But Bezos isn’t leaving Amazon. In fact, he’ll become executive chairman. On today’s show: What’s the difference? Plus, the U.S. isn’t as innovative as it used to be — according to a Bloomberg ranking — and how one florist is prepping for Valentine’s Day this year.
A new report from the Congressional Budget Office predicts gross domestic product could return to pre-pandemic levels as early as mid-2021. But, as one expert puts it, “GDP growth does not translate into equal growth of earnings and employment.” And the labor market will take much longer to get back to the low unemployment rates we had before the pandemic. On today’s show: Even if the numbers return to where they were before COVID-19, the economy is probably going to look a lot different. Plus, a look at China’s manufacturing rise and a California goat ranch hit hard by the pandemic and wildfire.
It’s been more than a month since Congress passed the second round of COVID-19 relief — which extended unemployment benefits for millions — but many Americans are still waiting for the money to arrive. That’s partly because most state unemployment computer systems are antiquated, and partly because the relief package changed some of the rules for federal unemployment programs. On today’s show: the Americans who fell into the unemployment benefits gap. Plus: Silver is not the next GameStop and the “afterlife” of mass incarceration.
A lot happened this week. We had some Fed Chair Jerome Powell, a little bit of Treasury Secretary Janet Yellen and, of course, the whole GameStop-Reddit-Wall-Street story. On today’s show: We’re looking back at the week and trying to make sense of it. Plus, unprecedented congestion at America’s ports and how the pandemic has changed bartending.
Several new viral variants of the coronavirus are spreading across the globe, and experts are urging the public to start wearing better masks. Disposable N95 masks are still better reserved for health care workers, since they’re in limited supply, but there are smart alternatives to just cloth. “Any mask is better than no mask,” one expert said. “But there’s a hierarchy of different solutions.” On today’s show: the call for more effective face masks. Plus, more on the bonkers GameStop stock situation and regrettable pandemic-inspired home renovations.
GameStop — yes, the video game store disappearing from shopping malls across the country — is making big news these days. The company’s stock has jumped 1,700% since the beginning of the year, due almost entirely to a forum on Reddit called r/WallStreetBets. On today’s show: We got Emily Stewart, business and politics reporter at Vox, to explain what is going on. Plus, a new study on the deadliest jobs during the pandemic and how government policies can lead to economic discrimination.
Running the economy hot means everyone who wants a job has a job. And the people who benefit most are those at the low end of wage distribution. The concern, though, is that a hot economy can cause a whole lot of inflation. But that’s just not happening. On today’s show: What we’ve learned in the past decade about letting an economy run hot. Plus, 71% of parents who work full time have kids who are attending school in person and a look at the shoe economy almost a year into the pandemic.
President Joe Biden signed an executive order Monday promising that federal dollars will be used to purchase American-made products. The Trump administration basically promised the same, and there have been laws requiring such action for decades. But the Biden administration argues this time will be different. On today’s show: Why is it so hard to keep that promise? Plus, the difference that extra $300 in federal unemployment benefits made and why some brands are sitting out Super Bowl ads this year.
If you closely read the directives coming out of the Biden administration, you’ll see that they’re mostly instructions for various federal agencies to do things — a bureaucratic to-do list, if you will. The problem is there are roughly 4,000 political appointments to be made in the federal government at the start of a new administration, 1,300 of which require Senate confirmation. On today’s show: the strange way we hand over control of the government. Plus, Biden moves to raise federal workers’ minimum wage to $15 and the complications of getting vaccines into Americans’ arms.
When then-President-elect Joe Biden announced his intent to nominate Janet Yellen for secretary of the treasury, he joked that “Hamilton” creator Lin-Manuel Miranda should write a musical about her. Naturally, we asked someone to write it. On today’s show: Indie rapper Dessa and her collaborators share “Who’s Yellen Now?” — a “Hamilton”-esque track about the economic icon. Plus, how a new president can undo his predecessor’s policies and how China is using COVID-19 vaccines as diplomacy.
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