Jun 28, 2017

06/28/2017: What the economy looks like for millennials of color

Millennials are now more anxious than they were in 2015, the first year of our poll. Sean Gallup/Getty Images

Millennials are the largest and most diverse generation of Americans, with about 19 percent of them identifying as Latino or Hispanic, 13 percent as black or African-American and six percent as Asian-American. According to a new report called "Gen Forward," African-Americans and Latino millennials are more likely to be economically vulnerable than their white and Asian-American counterparts. We talk to one of the study's authors about these findings. Also, yesterday Federal Reserve Chair Janet Yellen said "asset valuations are somewhat rich," which is Fed speak for "stock prices are high." But does that mean we are heading for a bubble?

Segments From this episode

U.S. territories face economic problems similar to Puerto Rico’s

by Aaron Schrank

Jun 28, 2017

Congress has sent auditors to several U.S. territories in the Caribbean and Pacific Ocean, including the U.S. Virgin Islands, Guam and American Samoa. They want to avert the kind of financial mess Puerto Rico got into with $123 billion in bond debt and unfunded pensions. Click the audio player above to hear the full story. […]

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Want to understand Russia's economy? Try reading Tolstoy.

by David Brancaccio

Jun 28, 2017

A new book looks at what economists can learn from literature.

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Foreign earnings bolster Monsanto results

by Jed Kim

Jun 28, 2017

Monsanto’s earning reports beat expectations today. The agricultural giant has enjoyed solid growth over the first half of the year, with operating earnings up more than 50 percent year on year. The company’s planned acquisition by German agricultural giant Bayer is also on investors’ minds. Click the audio player above to hear the full story. […]

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Millennials of color are worse off financially

by David Brancaccio and Jana Kasperkevic

Jun 28, 2017

Financially secure white millennials feel held back.

Millennials of color are less like to own a credit card.

Justin Sullivan/Getty Images

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Millennials are the largest and most diverse generation of Americans, with about 19 percent of them identifying as Latino or Hispanic, 13 percent as black or African-American and six percent as Asian-American. According to a new report called “Gen Forward,” African-Americans and Latino millennials are more likely to be economically vulnerable than their white and Asian-American counterparts. We talk to one of the study’s authors about these findings. Also, yesterday Federal Reserve Chair Janet Yellen said “asset valuations are somewhat rich,” which is Fed speak for “stock prices are high.” But does that mean we are heading for a bubble?