Week of July 22nd, 2024

Cheers to the Games!

The Fed has a series of tools in its arsenal to influence interest rates, including the all-important federal funds rate.

Though incomes are rising, savings are down for many Americans. Plus: An ex-auto parts clerk remembers counting inventory by hand and manufacturing booms in some regions while struggling in others.

The “All This Could Be Different” author chatted with us about embarrassed millionaires, mutual aid and Milwaukee.

Before barcodes and electronic management systems, there were inventory clerks with pens and clipboards.

Incomes are up, consumption is up too — but the personal savings rate is down to 3.4%.

Different parts of the country make different products and often respond distinctly to economic trends.

Amid widespread office vacancies, developers say creating apartments could provide housing and help stave off declining values.

The legislation would force tech companies to do more to prevent harm. Subscribe to get the “Make Me Smart” newsletter every Friday!

Artificial intelligence isn’t competing in the Summer Olympics (yet), but it is playing a major role.

A new study from Harvard University and the Census Bureau suggests it’s not all about your individual effort or household situation.

The 2024 Paris Olympic Games officially begins today — and this year’s tournament will use artificial intelligence more than any other.

Lindsay Owens of the Groundwork Collaborative points to relief from junk fees and medical debt as well as policy fights around taxes.

A new study finds that children have a better chance at moving up the economic ladder if most of the adults they interact with are employed.

From the BBC World Service: Just as the Olympics are getting underway in Paris, the French train network has been hit by arson attacks.

Paresh Dave, senior writer at Wired, joins Marketplace’s Lily Jamali for Tech Bytes: Week in Review.

Small operations have endured pandemic rules, lockdowns and rising costs. Refinancing their loans could be as painful, or worse.

How come consumer spending is so strong while consumer anxiety is so high? Plus, loan debt burdens small-business owners as interest rates stay high.

And, Kamala-nomics begin to take shape.

Second quarter gross domestic product growth was 2.8%. That’s double the GDP growth in the first quarter of the year.

American workers now expect to retire at a younger age than they did before the pandemic. But what kind of retirement will it be?

But how much will really change on August 17?

You’ve probably heard of dynamic pricing, which ride-share apps like Uber use. Surveillance pricing goes even further.

The Olympics is big business for brands — and this year, it’s not just giants like Adidas and Nike whose uniforms will be worn by competitors.

The Federal Trade Commission wants to know how firms are using surveillance pricing as ever more data on consumers is collected.

Legal loopholes for working without authorization exist, as immigrants await updates to their status or work permits.

Wall Street indexes are droopy this morning after a surge downward yesterday.

From the BBC World Service: Asian markets have followed U.S. shares downward due to a tech investor sell-off.

The Americans with Disabilities Act is 34 years old, but the Department of Justice is updating it make the internet a more accessible space.

The Federal Reserve will be looking for signs that the economy is slowing in a manageable way so that it can cut interest rates.

Adjusted for inflation, the current minimum wage has the least purchasing power since 1949. Why won’t Congress increase it? Plus, tax reform in China and DIY vehicles in New York.

While you might expect the cost of a meal to end in “99,” some businesses use unusual pricing to ensure they get the profit margins they want.

L.A. Berry, a longtime equestrian sports journalist, remembers the attire, hassles and camaraderie of the pre-digital age.

It’s the longest stretch of time Congress has gone without raising the federal minimum wage.

Plus, hydrangea mania.

Why China’s leaders have long delayed tax reforms in the socialist country.

Though the creative contraptions might help riders get around traffic jams, they also pose serious safety concerns.

The pandemic exodus from coastal areas to cities like Austin and Atlanta has cooled off, and rental supply is outstripping demand.

Businesses, restaurants, hospitals and citizens are all grappling with recurring power outages — and debating leaving as a result.

We hear from pained passengers who experienced flight delays and cancellations at Atlanta’s Hartsfield-Jackson International Airport.

Hundreds of suitcases. Seas of people. Hours of delays. Passengers at Atlanta’s Hartsfield-Jackson International Airport voice their frustrations.

Some sellers who have delayed putting their homes on the market are now doing so, but inventory is still lower than normal.

Today, we hear about the economics of an immigrant from Mexico trying to work without permission in the U.S.

From the BBC World Service: Some of the world’s biggest civilian and defense aviation businesses are gathered at this year’s Farnborough Airshow.

The home diagnostics industry allows patients to test themselves for illnesses and allergies in the comfort of their homes. Some medical experts are wary of on-demand medicine, but health tech investors Chrissy Farr and Anarghya Vardhana say it makes care more accessible.

More eyes mean more money for the beautiful game.

In “Glengarry Glen Ross,” this month’s “Econ Extra Credit” film, that right to cancel becomes a central part of the plot. Let’s dig into the history.

Popular job-related slang might tell us where the labor market is headed. Plus, to point students toward viable careers, educators visit the Port of Baltimore.

Jodi Gebarowski learned to reduce, reuse, and recycle from her grandmother. Now she’s turned that into a business.

The vehicle industry is surprisingly resilient this year. Many people have been waiting for lower costs but can’t hold out any longer.

Careers at the port range from environmentalist to tug boat captain to welder. But people have to know they exist in order to apply to do them.

Instead, companies are opting to report other metrics of growth.

During the pandemic era, the lingo reflected workers’ leverage. Now the dynamic has shifted, and how we talk about work has too.

For-profit colleges sell a promise of success to marginalized groups, but often haven’t delivered. Now, they may have to pay for it.

These seven tech companies have an outsize influence on the stock market.

How will a new name at the top of the Democratic ticket change how campaign dollars are spent?

Harris’ campaign will likely spend earlier on introductory ads than if Biden were at the top of the ticket. The GOP will need to pivot spending to take on a new opponent.

The effects of Friday’s CrowdStrike software outage rumble on but passengers have a right to some compensation if their plans were disrupted.

The Crowsdstrike software update is continuing to wreak havoc, and outage costs are estimated to be several billion dollars.

From the BBC World Service: Prime Minister Narendra Modi’s party, the BJP, released its first budget.

Kate Conger of The New York Times discusses the underlying fragility of internet and cybersecurity infrastructure.

Real estate prices are getting unreal, thanks to the ripples of Nvidia’s success.

Plus, fancam edits and coconut trees.

Companies have made big investments in response to those policies. That’s not easy to roll back, says Heather Long of The Washington Post.

Whether it’s new machines for a factory or better software to manage payments, companies spend because they see opportunities.

Not really, apparently. Or at least not yet. Plus, what might happen to the president’s infrastructure initiatives now that he won’t serve a second term.

A flaw in a core piece of popular software can cause widespread problems, as was the case Friday. 

The market is especially tuned in to whether we will have a divided government after the elections.

That puts at least 1,100 pieces of critical infrastructure at risk, according to the Union of Concerned Scientists.

There were legislative accomplishments, like the Inflation Reduction Act and the CHIPS Act. But there was also elevated inflation.

Economic markets take a beat to adjust to Biden’s big election announcement; what the entire cybersecurity industry can learn from Friday’s CrowdStrike outage; and a new law makes it easier to pull emergency cash from a retirement account.

You can take out up to $1,000 without penalty if your employer offers the option, thanks to a recent law.

On the heels of the President’s announcement that he won’t seek re-election, assessing how history will remember the Biden economy. Plus, continued fallout from Friday’s CrowdStrike outage and global tech meltdown.

From the BBC World Service: After Joe Biden announced he’s dropping out of the presidential race, Kamala Harris has secured the backing of some of the Democrats’ biggest donors; so what are investors thinking?

The Internet giant has to prove that its recommendation algorithm and advertising comply with Europe’s transparency law, the Digital Services Act.