Mortgage rates are down! Inflation is less inflation-y! Felix Salmon, Emily Peck, and Elizabeth Spiers discuss what the Fed’s interest rate cut means for the American economy — and American voters. Also: Trump is promising tax cuts like there’s no tomorrow, but are any of them good ideas? And Axel Springer is spinning off its media empire in yet another news business shakeup.

In the Plus bonus mini-episode: Tupperware is bankrupt, but it shall live on in the underground communist container-sharing network.

Here’s a link to the Yukiko Morita bread lamps Emily mentioned in the numbers round.

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Podcast production by Jared Downing and Cheyna Roth.

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