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Mar 23, 2021

How soon will international travel get easier?

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The travel industry is urging the White House to let people get back to their international trips by this summer. Plus, congressional testimony from Treasury Secretary Janet Yellen and Fed Chair Jerome Powell today. Also, GameStop reports profits and losses for the first time since the Reddit-fueled retail investor trading phenomenon took over. And, just how much income the wealthiest U.S. households aren't paying taxes on.

Segments From this episode

Both Treasury Secretary Janet Yellen and Fed Chair Jerome Powell testify before Congress today. What do we expect to hear?

Christopher Low, chief economist at FHN Financial, said he expects Powell to take the line "that it's not appropriate for him to talk about fiscal stimulus," just as he did the last time he testified. Powell previously said those were decisions Congress has to make. On the other hand, Low said, Yellen is part of the team at the White House that's been putting COVID relief together, "so I'm sure she'll advocate for it." Low noted that we still have yet to make a recovery despite strong economic forecasts for the coming months.

Top 1% of earners don't pay taxes on one-fifth of income, study finds

Mar 23, 2021
Many pass their income through partnerships and corporations. Others park money offshore.
A big part of the issue, the report found, is that the IRS uses random audits to weed out cheaters.
Spencer Platt/Getty Images

Music from the episode

Love Lies (with Normani) Khalid, Normani

The team

Nicole Childers Executive Producer
Victoria Craig Producer, BBC
Stephen Ryan Producer, BBC
Jonathan Frewin Producer, BBC
Daniel Shin Producer
Jay Siebold Engineer
Brian Allison Engineer
Alex Schroeder Digital producer
Meredith Garretson Producer
Erika Soderstrom Producer/Director