Marketplace All-in-One

India has halted export of non-basmati rice, causing some U.S. shoppers and restauranteurs to stock up in case of a shortage. In this episode, the economics of scarcity fears, and how it can turn small problems into big ones. Plus, a new law that will allow companies to match student loan payments with retirement contributions.

Earlier this year, GM announced it was pulling the plug on their affordable EV with a troubled past. But now, the Chevrolet Bolt is selling super well at dealerships, and an updated model is coming soon. We’ll talk about what changed. Plus, we’ll hear from an economist who has a proposal for improving the health care model in the U.S.: Start thinking about coverage the way we think about public school.

From the BBC World Service: The U.N. has warned that it’s no longer enough to refer to global warming — we are now in an era of global boiling. The warning comes as Europe and swathes of the U.S. are experiencing prolonged periods of extreme heat. France recently became the first country in the world to ban some short-haul internal flights between cities which take less than two and a half hours to travel between by train. But the jury’s still on how effective the ban is.

It’s been just a few weeks since the new Threads app burst onto the scene, threatening to be the ultimate Twitter-Killer, or platform formerly known as Twitter-killer. But it’s not just an alternative to the former bird app Threads has promised, but an alternative model of social media. One that is decentralized and interoperable. So how is this model different than the classic flavor most of us are used to? Marketplace’s Meghan McCarty Carino asked Arvind Narayanan, a professor of computer science at Princeton.

Federal student loan payments have been paused for over three years. Since then, borrowers have got used to the extra room in their budgets for dining, vacations, Beyoncé tickets and more. One listener called in to ask: What happens to the economy when payments start again this fall? We’ll get into it and answer more of your questions on President Joe Biden’s new student debt forgiveness plan and why it’s so hard to have student loans wiped out through bankruptcy. Here’s everything we talked about today: “As Student Loan Borrowers Prepare to Resume Payments, Some Borrowers’ Abilities to Pay May Be Limited” from TransUnion “Holiday shopping already has retailers on edge” from Marketplace “Student-Loan Repayments Are Coming Back. Retailers Are in for a Big Shock.” from The Wall Street Journal “The pause on student loans is ending. That could be a storm cloud for the economy” from CNN Business “The Biden administration is forgiving $39 billion in federal student loans. Find out if you qualify” from Marketplace “Biden is forgiving $39 billion in student debt — here’s who qualifies” from CNBC “Student loan forgiveness: What to know about Biden’s $39 billion plan” from Vox “Who benefits from the student loan payment pause and what will happen when it ends?” from California Policy Lab “Biden Administration Updates Form For New, Easier Bankruptcy Process” from Forbes “Biden Administration Offers New Path to Discharging Student Debt in Bankruptcy” from The New York Times Join us tomorrow for Economics on Tap. The YouTube livestream starts at 3:30 p.m. Pacific time, 6:30 p.m. Eastern. We’ll have news, drinks, a game and more.

Call a customer service line and odds are you’ll hear that “unusually high call volume” is making you wait. But automated messages and long wait times seem to have become the norm. We won’t put you on hold to find out why. Plus, the economy just keeps on growing and businesses stock up on inventory again.

Some states, like Iowa, are lowering or trying to lower the age requirement for serving alcohol. Critics caution that allowing young people to serve alcohol could make them more vulnerable to harassment, but others say it would give teens job opportunities — and help out the already struggling restaurant industry. Plus, automakers are working together to build out a network of EV chargers that could make long-distance travel more realistic.

Did you know that if you’re over 50, you can contribute extra to your 401(k)? Legislation is about to go into effect that will sweeten the deal even more: For 401(k) participants earning $145,000 or more, that catch-up amount will be taxed upfront, rather than when it’s withdrawn for retirement. In this episode, we’ll talk the nitty-gritty of retirement savings, a new company looking to operate short-haul flights only, and whether the Fed will raise rates again in September.

From the BBC World Service: A raft of big European corporations have been reporting half-year figures. We drill into some of the numbers and find out why shares in some big banks are falling despite rising profits, how lower oil prices are affecting Shell, and the role cat food has played in Nestle’s profits. Also on the program, Russia’s ambitions for Africa as President Putin hosts leaders for a summit. And, the battle to save a ship carrying 3,000 vehicles from sinking off the Dutch coast.

It sure feels like we’re on the verge of an artificial intelligence revolution in many workplaces. New tools like chatbots and image generators have taken the tech world by storm, but many businesses across the economy are still figuring out what exactly it means for them. That’s often where firms like Accenture come in. It offers business services and consulting. Last month, Accenture surveyed more than 2,300 C-suite leaders across industries and around the world on their thinking about integrating generative tools into their workflows. Marketplace’s Meghan McCarty Carino spoke with Lan Guan, the global lead for data and AI at Accenture, who said the survey found almost universal enthusiasm.

Sure, today the Federal Reserve hiked its key interest rate to the highest level since 2001. But consumers are feeling much rosier about the economy lately, thanks to cooling inflation and a strong labor market. Plus, higher interest rates spell trouble for businesses, and a lack of investment in women’s soccer has debilitating physical consequences.

Barbie and Taylor Swift are just about everywhere right now, they even got a mention at the Fed’s news conference today. Seriously! We’ll explain what these pop culture icons have to do with the today’s interest rate hike. Plus, how leaning on algorithms and AI for bureaucratic work could come with real costs for consumers. And, candid thoughts about climate change. Here’s everything we talked about today: “Cigna accused of using an algorithm to automatically reject patient claims” from CBS News “How Cigna Saves Millions by Having Its Doctors Reject Claims Without Reading Them” from ProPublica “G.M. and Other Automakers Will Build 30,000 Electric Vehicle Chargers” from The New York Times “MIT’s ‘PhotoGuard’ protects your images from malicious AI edits” from Engadget “Powell Speaks on Fed Rate Hike” from The New York Times Got a question about resuming student loan repayments for the hosts? Leave us a voicemail at 508-U-B-SMART or email us at makemesmart@marketplace.org.

In her new book, M.T. Connolly explores the cost of getting older, from family members that do caregiving for free to nursing homes that lack sufficient funding. “Marketplace Morning Report” host David Brancaccio sits down with Connolly to discuss what we can do better to plan for aging. Plus, what the all-but-imminent rate hike later today means for inflation, and a bank in the UK closed a politician’s account partially due to his politics.

The Teamsters union reached an agreement with UPS yesterday, narrowly avoiding a strike. The contract updates include a pay raise for part-time workers and $30 billion in wage gains over five years. That could set a precedent for other companies deciding whether to deliver pay increases to their employees. Plus, the ad market is seeing less revenue and the infrastructure of the care economy is shaky at best.

From the BBC World Service: The Taliban has fulfilled its threat to shut down hair and beauty salons across Afghanistan, leaving tens of thousands of women without work. The BBC’s Caroline Davies explains. The CEO of NatWest, one of the UK’s biggest banks, has resigned after the bank closed the account of a former politician due to his conservative right-wing views. Alison Rose had said Nigel Farage’s account was shut down due to a lack of funds. In Germany, the government is suggesting that a siesta could help workers cope with uncharacteristic summer heat, and, finally, David Gressly, UN humanitarian coordinator for Yemen, gives an update on an operation to remove one million barrels of oil from a derelict tanker.