“The bedrock of our economy”
Sep 21, 2022

“The bedrock of our economy”

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That's how Chair Jerome Powell characterized price stability today, but the Federal Reserve may have more work ahead in its quest to subdue inflation. Plus, the history behind the Fed's 12 regional banks.

Segments From this episode

What is Jay Powell looking for?

"Marketplace" host Kai Ryssdal provides context to announcement of the Fed's latest rate hike and unpacks the remarks at Jerome Powell's press conference.

What corporate layoffs tell us about the economy

Sep 21, 2022
Gap is the latest company to announce layoffs. Downsizing among employers reflects shifting consumer habits.
Clothing retailer Gap plans to cut roughly 500 corporate jobs, following other large companies like HBO Max and Peloton.
Allison Dinner/Getty Images

Germany is nationalizing its largest gas utility, Uniper

Sep 21, 2022
The country's three largest importers of Russian natural gas have received government bailouts, and similar actions may follow in Europe.
Russia's termination of gas exports has hurt Uniper along with other European energy companies.
Lukas Schulze/Getty Images

Biden pledges an additional $2.9 billion in aid to help fight the global food crisis

Sep 21, 2022
The good news? The world's producing enough food to feed everyone. The bad news? Getting it to hungry people is more expensive.
President Joe Biden speaks to the United Nations General Assembly, pledging $2.9 billion to fight the global food crisis.
Anna Moneymaker/Getty Images

How gun dealers are skirting Biden's new ghost gun rule

Sep 21, 2022
Alain Stephens, an investigative reporter for The Trace, breaks down the market for ghost guns.
"When you buy a traditional firearm through a regularly licensed gun dealer, there's a serial number attached to that ... but these homemade guns, they don't have serial numbers," said The Trace's Alain Stephens.
Gabriel Bouys/AFP via Getty Images

The Federal Reserve’s 12 districts reflect an economy that no longer exists

Sep 21, 2022
The locations of the regional banks made sense for the economy of 1913. Populations and industries have shifted since then.
Federal Reserve Chairman Jerome Powell discusses the central bank's interest rate hike Wednesday. The Fed's district banks once focused on regional economic issues, but now work in a more unified fashion.
Drew Angerer/Getty Images

Music from the episode

Lush Four Tet
Splinters bett.3b.black
Energy Fortunes.
Sun Dress Freddie Joachim
Hundred Fifty Up Satin Jackets
Turnmills Maribou State

The team

Nancy Farghalli Executive Producer
Daisy Palacios Senior Producer
Sean McHenry Associate Producer
Andie Corban Associate Producer
Richard Cunningham Associate Producer