Latest from Jesson Duller

• May 6, 2022

  Hungary calls Russian oil ban an economic “atomic bomb”

  

  From the BBC World Service: The Hungarian Prime Minister Viktor Orban vowed to veto current EU proposals to phase out imports of Russian oil, saying they would be devastating to Eastern European countries which rely heavily on the fuel. Plus, European Commission President Ursula von der Leyen says a sixth sanctions package against Russia will go ahead, even if it takes longer than expected. And, we visit a German oil refinery that’s still very reliant on Russian oil.

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• May 5, 2022

  TurboTax parent company to settle over deceptive advertising claims

  

  The company behind TurboTax has agreed to pay restitution to millions of customers who used its tax preparation software. This is to settle allegations that Intuit used deceptive marketing tactics to charge people who should have been able to file their taxes for free. Marketplace’s Nova Safo has the latest details. Also, Diane Swonk, chief economist at the tax and advisory firm Grant Thornton, walks us through the state of the labor market and the implications of the Fed’s half point rate hike yesterday. Plus, what happens when a country’s central bank does not use higher interest rates to rein in inflation? We have an example from Turkey, where consumer prices are up nearly 70% in a year. And, hear how Allentown, Pennsylvania, at the heart of the Rust Belt has started attracting new manufacturing businesses.

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• May 5, 2022

  The Fed hiked interest rates yesterday. Now what?

  

  Yesterday, the Federal Reserve moved to hike interest rates by half of one percentage point. Chair Jerome Powell said the Fed is not actively considering raising rates by three-quarters of a point. We talked to Marketplace’s Nancy Marshall-Genzer, who was in person at the press conference following the announcement. Plus, the Department of Homeland Security will grant work permit extensions for many immigrants with expired and near-expired documents. And, there has been an uptick in donations to abortion funds following the leaked Supreme Court draft opinion that would overturn the landmark Roe v. Wade case.

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• May 5, 2022

  Turkey’s cost-of-living crisis deepens, and one mother tells us how

  

  From the BBC World Service: Turkey’s annual rate of inflation is just shy of 70%. It’s 69.9% to be exact, according to data released Thursday. We hear what life is like for one family in Istanbul. Plus, as many European countries seek alternatives to Russia energy supplies, Lithuania officially opens a natural gas pipeline to Poland.

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• May 4, 2022

  Take a window-seat view into the unfriendly skies of the airline industry

  

  The airline industry is attempting to soar over and through a minefield of obstacles, such as the pandemic, labor shortages and passengers being bad. In the middle of all this is Avelo Airlines, a new low-fare carrier that emerged during the pandemic – and is ready to expand. We sat down with Andrew Levy, founder, chairman and CEO of Avelo Airlines, about what it’s like to navigate the industry’s maze of challenges. The European Union has proposed a ban on Russian oil. Susan Schmidt joins us to discuss the market’s focus on the Fed.

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• May 4, 2022

  There’s an inequitable flip side to the monthly jobs numbers

  

  The monthly jobs report has become something of an event, where the numbers about the labor market and unemployment are used as beacons to indicate the economy’s health. Beyond those numbers, however, is the relatively untold story of inequality among workers of color and across genders. For more on this, we spoke to to Dr. Alex Camardelle, Director of Workforce Policy at the Joint Center for Political and Economic Studies. Later this morning, the payroll firm ADP will release its monthly report of private sector job growth. Marketplace’s China correspondent Jennifer Pak checks in from Shanghai, which is still wading through a COVID lockdown period.

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• May 4, 2022

  EU proposes banning Russian oil

  

  From the BBC World Service: The European Union is proposing to halt the import of Russian crude oil and refined fuels. And the Reserve Bank of India unexpectedly raised interest rates by 0.4 percentage points.

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• May 3, 2022

  A look at the economic effects of restricting abortion

  

  We have more about the leaked draft of a Supreme Court majority opinion that would allow states to outlaw abortion. Scholars and analysts have examined the possible economic effects of overturning the landmark Roe vs. Wade decision. One of them is Caitlin Knowles Myers, economics professor at Middlebury College, who joined others in submitting a briefing to the court with this data. She spoke with us this morning. Workers at an Amazon warehouse in New York City voted not to unionize, which is a step back for the newly formed Amazon Labor Union.

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• May 3, 2022

  Pandemic-driven poverty still scars New York City

  

  Poverty in New York City grew during the pandemic, and many of the government programs that helped many families endure through that period are coming to an end. We spoke with Rich Buery, CEO of nonprofit Robin Hood, about a new report that shows that even as much of NYC heads back to work for business as usual, the presence of poverty and multifaceted insecurity is still very strong. We have more details on the leaked draft majority opinion regarding where the Supreme Court could stand on Roe v. Wade. As we prepare for more data on job turnover, we look at wage increases for low-income workers.

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• May 3, 2022

  The difference between a quarterly profit and loss at BP depends on its involvement in Russia

  

  From the BBC World Service: Energy giant BP took a $25.5-billion one-time charge for ending its Rosneft relationship, but high energy prices led to the biggest quarterly profit in more than a decade. Plus: Australia raises interest rates for the first time in 11 years as the cost of living bites into household budgets. And, a look at progress and pitfalls of China’s controversial Belt and Road Initiative.

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