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Why Americans are driving older cars
Jun 15, 2021

Why Americans are driving older cars

If it hasn't rusted through, has good tires and an airbag, why trade? The quality of cars these days and, yes, the pandemic, have something to do with an aging car fleet in the U.S. Plus, more data on increasing prices equals more anticipation for what the Federal Reserve will say about its forecasts for interest rates. And, the systemic failure to equitably invest in Black entrepreneurs in the U.S., how that's changing and whether the wave of commitments by corporations and venture capitalists over the last year represents a temporary blip or a lasting shift in how money is allocated.

Segments From this episode

There are more signs of inflation, but interest rates don't reflect that yet

“There is plenty of inflation,” said David Kelly, chief global strategist at J.P. Morgan Asset Management. That can be seen in a recent rise in consumer prices and a rise in wholesale prices reported today by the Labor Department that shows a record increase over the past year. Still, Treasury note yields aren’t spiking like we’d expect them to. Kelly offers a technical explanation for one of the reasons why: “One of them is the Treasury Department had a huge amount of money on deposit with the Federal Reserve, which it’s actually been using to pay the bills for the last five or six months. Instead of issuing new debt, which would have pushed up interest rates, they’ve just been running down the checking account. And that has stopped interest rates from rising so far, but we still think, look, if there’s inflation there, we’re going to see higher rates in the months ahead.”

Americans are driving older cars, a trend the pandemic accelerated

Jun 15, 2021
The average car on the road right now in the U.S. is 12 years old.
That's because the quality of vehicles has only improved over time, and because people didn't drive as much during the pandemic.
Jim Watson/AFP via Getty Images

Why investment in Black entrepreneurs is on the rise

Jun 15, 2021
Many large companies are interested in both the cause and the financial returns, says Melissa Bradley of 1863 Ventures.
Melissa Bradley of 1863 Ventures has observed a dramatic increase in Black and brown entrepreneurship over the past year, aided by venture capital and corporate investment.
Courtesy 1863 Ventures

Music from the episode

Football Head Flamingosis

The team

Victoria Craig Host, BBC
Stephen Ryan Senior Producer, BBC
Jonathan Frewin Producer, BBC
Daniel Shin Producer
Jay Siebold Technical Director
Brian Allison Engineer
Meredith Garretson Morbey Senior Producer
Erika Soderstrom Producer
Rose Conlon Producer
Alex Schroeder Producer