Jul 14, 2017

07/14/2017: Sometimes napping on the job is OK

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The Senate has a pretty full plate between now and its delayed August recess, but two Republican senators are adding an immigration bill to the list. They're reportedly working with the White House on legislation that would cut legal immigration in half by 2027. That's in line with President Trump's campaign promise, but it directly contradicts another one. Plus, we got the latest inflation numbers today, and June was pretty flat: core prices were up just 10 percent. That's lower than analysts expected and much lower than the Fed's 2 percent target. But why do we want prices to rise anyway? Then: For two decades, the railroad CSX let crews nap under certain circumstances. This spring the new CEO got rid of that practice, shining a light on a frequent topic of discussion in the transportation business.

Segments From this episode

Wood City: Cloquet, Minn., hopes to keep its identity after last matchstick factory closes

Jul 14, 2017
The Diamond Match factory is one of three major wood products plants in Cloquet, Minn. But it’s slated to close later this summer, leaving Cloquet with a hole in both its history and economy.
Smokestacks at the Diamond match factory in Cloquet tower over a pile of wood. 
Dan Kraker for Marketplace

Is Janet Yellen's time as Fed chair coming to a close?

Jul 14, 2017
Gary Cohn, Trump's chief economic adviser, is the rumored front-runner for a replacement.
Federal Reserve Board Chair Janet Yellen testified before the Senate Banking, Housing and Urban Affairs Committee this week.
Chip Somodevilla/Getty Images

Why do economists say we need inflation anyway?

Jul 14, 2017
Inflation has been consistently lower than the Federal Reserve’s target of 2 percent. Fed Chair Janet Yellen highlighted this fact in recent congressional testimony. Most consumers and business owners would just as soon see inflation remain low: consumers can afford more goods and services without having to earn higher wages, and businesses never like to […]

Bill would reduce numbers of legal immigrants

Jul 14, 2017
Two Republican senators are working on a bill that would cut legal immigration into the country in half, by 2027.

Some transportation workers are told to do their sleeping at home

Jul 14, 2017
The new head of the railroad CSX has called a timeout on naps. For the past 20 years or so, the railway allowed naps under limited circumstances. Now CSX is implementing an approach meant to reduce train delays. So a few months ago, it told engineers and conductors snoozing is now off limits. The move […]

Big banks post record quarterly profits, but they don’t court our cash

Jul 14, 2017
Four big banks (JPMorgan Chase, Citigroup, PNC, Wells Fargo) reported earnings today, all beating expectations, especially JPMorgan, which posted its best quarter ever. That wind in the banks’ sails comes in the form of higher interest rate levels after three straight rate hikes by the Federal Reserve. That means banks get to charge you more […]

Auto racing goes electric

Jul 14, 2017
The Formula E circuit lets car makers test their electric vehicles and promote their products to buyers.
A race car for Formula E.
Courtesy of Formula E

The Senate has a pretty full plate between now and its delayed August recess, but two Republican senators are adding an immigration bill to the list. They’re reportedly working with the White House on legislation that would cut legal immigration in half by 2027. That’s in line with President Trump’s campaign promise, but it directly contradicts another one. Plus, we got the latest inflation numbers today, and June was pretty flat: core prices were up just 10 percent. That’s lower than analysts expected and much lower than the Fed’s 2 percent target. But why do we want prices to rise anyway? Then: For two decades, the railroad CSX let crews nap under certain circumstances. This spring the new CEO got rid of that practice, shining a light on a frequent topic of discussion in the transportation business.

Music from the episode

Maps Yeah Yeah Yeahs
Perth Beirut
Pumped Up Kicks Foster The People