With midterm elections approaching, Julia Coronado discusses how economic viewpoints could have an effect. Elsewhere, credit card debt appears to have returned to pre-pandemic levels. Then we talk about what could be in store for the people left behind after mass layoffs.

Another union has voted to ratify a new labor agreement with rail companies, but there are still sticking points for others. The BBC reports on the agenda for the COP27 climate change summit, which has started in Egypt. We discuss the economics behind grassroots ballot initiatives.

From the BBC World Service: As the COP27 world summit on climate change opens in Egypt, potential compensation for countries with developing economies from their developed neighbors is on the agenda. Plus, Apple says China’s zero COVID strategy will significantly impact iPhone production and shipping this holiday season. And, bus passengers in the U.K. face longer wait times due to a national worker shortage.

The Labor Department’s newest jobs report beat expectations, and Chris Low of FHN Financial is here with us to talk about what it could mean for the Fed. Then, we discuss mass layoffs at Twitter. One of our producers illustrates the grind of the New York City rental market.

We preview the coming October jobs report. Also, we look at what the Fed might want to keep its eye on regarding the job market. Then, it appears free returns for online purchases are proving a bit too costly for many companies.

From the BBC World Service: At a meeting in Beijing, President Xi Jinping called for greater cooperation between Germany and China during “times of change and turmoil”. The German Chancellor, Olaf Scholz, has faced criticism for not coordinating his trip with other European leaders. Plus, Russian attacks leave 4.5 million people across Ukraine without power. And, we hear why some Albanians are setting their sights on a life in Britain.

The Fed threw another big interest rate hike at inflation this week, and while it hints at the possibility of dialing back the pace … it hasn’t shown a ton of interest in doing that. Diane Swonk of KPMG discusses this further. The Biden administration wants to help with your energy bill. CBS and its former chief officer will pay millions following an investigation from the New York attorney general’s office.

First, we look at next steps for the Fed after it raised interest rates again on Wednesday. As the World Cup in Qatar approaches, we talk about the reasoning behind countries’ willingness to pay billions to host massive sporting events like it.

From the BBC World Service: With U.K. inflation running above 10%, the country’s central bank is poised to make its biggest rate increase in 30 years. Plus, Netflix rolls out cheaper subscriptions, which have adverts. And, authorities in Indonesia say contaminated medicine syrup was likely responsible for a spike in child deaths in the country.