Latest from Olie D'Albertanson

• Jun 16, 2023

  Blinken heads to China, following a visit by Bill Gates

  

  The U.S. Secretary of State Antony Blinken will arrive in China to try to strengthen diplomatic ties between Washington and Beijing. Meanwhile, a private sector dignitary has just met with China’s leader Xi Jinping: Microsoft co-founder Bill Gates. We have more on what was discussed. Plus, the Federal Reserve’s thinking seems to point to an economy still humming along. So why didn’t the central bank raise interest rates again this week to try to slow the economy a bit? Well, you have to read between the lines, says Christopher Low, chief economist at FHN Financial. This has to do with concerns about the banking sector still lingering. And, it’s now more than three dozen states that have legalized cannabis products for medical use. But it’s not an affordable option for all patients.

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• Jun 16, 2023

  Is it trash day for junk fees?

  

  Some see them in the $45 per night “destination fee” on the hotel bill. Or maybe the $25 charge for not booking a plane ticket on the internet. The Biden Administration is pressuring companies to stop with surprise or undisclosed charges, and to be sure people know in advance the cost of a product or service. Which leads us to two major ticketing companies saying they’ll end hidden fees so at least buyers using Ticketmaster and SeatGeek will have more transparency about the full price of a ticket up front. Also, Google parent company Alphabet warns its employees about using artificial intelligence chatbots. And, some economic implications of the 7-2 U.S. Supreme Court decision to let stand the Indian Child Welfare Act.

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• Jun 16, 2023

  Foxconn must prepare for the worst

  

  From the BBC World Service: Young Liu, the chairman of Taiwan-based iPhone maker Foxconn, says the company is redrawing some of its supply chains as it navigates a new era of icy Washington-Beijing relations. Plus, Singapore will “progressively deploy” more patrol robots across the city-state after more than five years of small-scale trials. And, a multimillion dollar deal between audio streaming giant Spotify and the media group run by Prince Harry and Meghan Markle has been canceled.

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• Jun 15, 2023

  Employee or independent contractor?

  

  The standards for determining this have changed yet again. And the latest ruling by the National Labor Relations Board brings back a method that could classify more people as employees. That’s making companies like Uber and Lyft pay close attention. Also, after the Federal Reserve skipped an interest rate hike yesterday, we’re already anticipating that they’ll increase rates at the next policy meeting. It’s part of the tightrope the Fed is trying to walk on inflation. And, what we pay for coffee beans reflects supply and demand on commodities markets … but not much else. Some in the coffee supply chain think the market needs restructuring to better reflect everything that goes into coffee, from labor to land to changing climate.

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• Jun 15, 2023

  A look inside the Fed’s crystal ball

  

  Along with a decision to hold interest rates steady, we got information about jobs, economic growth, inflation and, of course, the cost of borrowing from Federal Reserve Chair Jerome Powell yesterday. Some of the takeaways: As of now it’s likely we get two more interest rate hikes this year to try to keep inflation down, and there’s very little chance interest rates are going to get cut at all in 2023. Marketplace Washington correspondent Nancy Marshall-Genzer was at the Fed press conference yesterday and has more. Plus, the world’s first comprehensive regulations governing artificial intelligence are taking shape across the Atlantic. European Union lawmakers have voted on new limits and safeguards for AI. And, the struggle to get community college credits to count toward bachelor’s degrees.

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• Jun 15, 2023

  Life inside North Korea

  

  From the BBC World Service: It’s arguably the most secretive and isolated country on Earth. North Korea has cut itself off from the outside world, and its borders have been sealed for three years in response to the COVID pandemic. Some of those living in North Korea have risked their lives to tell the BBC about how they’re struggling to survive. Plus, Japan’s main stock market index, the Nikkei 225, has been enjoying a rally, hitting 33-year highs. We find out why. And, is there such a thing as Beyoncé-nomics? She’s being blamed for higher-than-expected inflation in Sweden.

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• Jun 14, 2023

  Inflation is moving in the right direction … just not fast enough for the Fed

  

  Today, the Fed is all but certain to leave interest rates unchanged at the conclusion of its June policy meeting. That outcome is even more likely based on more data this week that shows inflation cooling. This would be the first time in more than a year that rates don’t go up at a Fed meeting. But the real story will be what Federal Reserve Chair Jerome Powell says about the path forward on fighting inflation. Plus, Japan’s plan to deal with its falling birth rate, which poses an existential threat to the world’s third largest economy. And, a lesson from rural Minnesota about how to hire and keep workers. With the overall U.S. job market still running strong, worker shortages are common. But this is something that remote parts of the country have dealt with for a while. And they have solutions.

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• Jun 14, 2023

  Imagine if a school bus worked like a Tesla

  

  Well, they’re beginning to. School buses are going electric. And there’s a company in Georgia at the vanguard of this part of the energy transition. Plus, digging into inflation numbers for the U.S. economy, and deciphering whether rent prices are staying hot or cooling. Also, who holds the title of No. 1 beer in America? The landscape has shifted. And it comes after some consumers took issue with a Bud Light collaboration that featured a transgender influencer.

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• Jun 14, 2023

  Europe makes its move on AI

  

  From the BBC World Service: Today, lawmakers in the European Parliament are taking on the twin challenge of regulating artificial intelligence and promoting its responsible use across the bloc. The European Union’s lead on technology and digital strategy, Margrethe Vestager, talks to the BBC’s Zoe Kleinman. Additionally, we hear what Japan is doing to address its falling birth rate. And, finally, Pakistan’s first female architect is awarded for her work empowering women.

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• Jun 13, 2023

  A mixed inflation picture ahead of the Fed’s meeting

  

  So, how ’bout that inflation? Today’s Consumer Price Index data looks good on the surface, but there are more troubling signs deeper down. Economist Jeffrey Cleveland helps us break down the report and what it means for the Fed ahead of its meeting later this week. Plus, an app for asylum seekers at the U.S.-Mexico border offers a way to access necessary immigration services, but migrants have been reporting a slew of problems including discrimination. 

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