Jun 14, 2017

06/14/2017: It’s time for another hike

HTML EMBED:
COPY

As many suspected, the Federal Reserve raised interest rates a fourth of a percent today. It's the third hike in six months, and we'll get a little wonky parsing Janet Yellen's comments on inflation, the labor market and overall economic health. Then, we're going hunting for the silver lining in a very cloudy year for retailers. Plus: a look at why bootlegging is booming again.

Segments From this episode

U.S. ponders steel tariffs and retaliation risk

Jun 14, 2017
President Trump has made much of his plans to boost American steel, and there’s an investigation underway at the Department of Commerce to determine if the steel industry should be deemed crucial to our national security. That would pave the way for more import protections, but could also open the door to a trade war. […]
JONATHAN NACKSTRAND/AFP/Getty Images

The city of Flint is broke, but its water system still needs expensive repairs

Jun 14, 2017
A half-dozen Michigan state officials now face criminal charges for their role in the Flint water crisis. The state cut subsidies for Flint water in March, leaving residents to pay for their water at one of the highest rates in the country. Though the city’s water now meets federal quality standards for lead and copper, […]

All is not gloomy in retail sales

Jun 14, 2017
There are new numbers out today that show just how much we spent on retail last month. And it was not so great. Retail sales were down 0.3 percent, which is the biggest monthly decline in more than a year. Department stores in particular have been struggling, but we wondered if there are any silver […]

The bond market takes interest rate hike in stride

by
Jun 14, 2017
The Federal Reserve raised interest rates about a quarter percent today, but yields on 10-year Treasury notes have been trading just around their 2017 lows — about 2.21 percent. That’s the interest rate paid to the borrower of these notes. Yields rise when traders expect inflation to increase, and, therefore, interest rates climb. So what […]

Inside the booming black market for bourbon

Jun 14, 2017
High demand and short supply mean some labels are all but unavailable in stores.
During the early 1920s, Old Pogue Distillery, (Mason County, Kentucky) sold limited quantities of its whiskey for medicinal purposes under the Old Jordan brand.
Adam Allington/Marketplace

Corporate landlords may be getting a boost from the government

Jun 14, 2017
We are slowly becoming a nation of renters. What does that mean for Fannie Mae, the government-sponsored backer of mortgages for individuals and investors?
A rental home owned by Invitation in Las Vegas, NV.
Kimberly Adams/Marketplace

As many suspected, the Federal Reserve raised interest rates a fourth of a percent today. It’s the third hike in six months, and we’ll get a little wonky parsing Janet Yellen’s comments on inflation, the labor market and overall economic health. Then, we’re going hunting for the silver lining in a very cloudy year for retailers. Plus: a look at why bootlegging is booming again.

Music from the episode

Stella Here We Go Magic
Fantastic Man William Onyeabor
It Gets Funkier IV Vulfpeck, Louis Cole
Chaghaybou Tinariwen
Pay No Mind (feat. Passion Pit) Madeon, Passion Pit