Marketplace

Around this time of year, companies begin hiring seasonal workers. Yet some large companies are planning on fewer hires. Despite a tight labor market, companies are uncertain whether consumer spending will remain strong through the holidays and are anxious about a recession. Plus, the Bank of Japan tries to prop up the yen, school districts call for cybersecurity funding and U.S. oil reserves reach a four-decade low.

That is how Federal Reserve Chair Jerome Powell characterized price stability while discussing the central bank’s interest rate hike Wednesday. The move pushes its benchmark rate to 3% or higher from zero in just six months. Today, we’ll explain what the Fed will be looking for to show that inflation is under control. Plus, what corporate layoffs tell us about the economy and how Germany is responding to its energy crisis.

In anticipation of more rate hikes by the Federal Reserve this week, the yield on the 10-year Treasury note finished at the highest it’s been in more than a decade. In today’s episode, we’ll break down what a higher interest rate on the government’s debt means for everyday Americans, from higher rates on personal loans to a potential hiring slowdown. Plus, home prices still won’t come down, and many Puerto Ricans are without flood insurance.

The Federal Reserve is all but guaranteed to raise interest rates this week. We’ll spend some time on today’s show talking about “soft landings,” and why hard landings are more common. Plus: Puerto Rico’s grid, the school band economy and retail shrinkage.

The Federal Reserve is expected to raise interest rates yet again next week as it looks to double down on inflation. Even with all the rate hikes, interest rates on savings accounts are still lagging. Today, we’ll explore how supply and demand play a role. Plus, a data deep dive in the Weekly Wrap, an anticipated shipping downturn and a costly cleanup for the San Francisco Bay.

Last year, the IRS only answered about 1 in 10 taxpayer calls, and the average wait time was 30 minutes. Thanks to new funding from the Inflation Reduction Act, the agency is set to hire 5,000 new customer service agents. On today’s show, we’ll look at why that hiring spree is easier said than done. Plus, retail sales send mixed signals, ethereum gets a major update, and Arizona juggles population growth with a limited water supply.

The August consumer price index shows that the cost of food at home was up 13.5% over the same period last year. That’s the largest annual increase since 1979, and higher energy prices, drought and the war in Ukraine all factor in. Also on today’s show: mortgage boycotts in China, stagnant household income in the U.S. and the tech that’s replacing business cards.

Almost everything became more expensive in August. We’ll discuss key items in the consumer price index and look at one number that dropped — the Census Bureau’s measure of child poverty rates. Plus, the U.S. enters a sorta trade agreement, a real estate agent talks housing market trends and researchers analyze plants to forecast wildfires.

We’ve learned just how fragile the global supply chain is the past few years, and we’re not out of the woods yet. Today, we examine two threats to the supply chain’s recovery: a potential strike of U.S. rail workers and continued lockdowns in China. We’ll also take a look at a new merchant code used for gun sales and hear how food banks are grappling with rising food costs.

A new report says restaurant bookings are back to pre-COVID-19 levels, which should be good news, but profitability in the industry is down. We’ll talk to some restauranteurs about menu changes, customer attitudes and fears around raising prices. Plus, “The Big Bang Theory” vs. Chinese censors, a new “affordable” Chevy EV, and the Fed chair’s recent remarks about “economic pain.”    

Queen Elizabeth II was a symbol of stability for many, and her death comes at a turbulent time for the United Kingdom. Marketplace’s London bureau chief tells us about the mood of the country amid decades-high inflation and a transfer of power at 10 Downing Street. Plus, the strong dollar weighs down foreign economies and the European Central Bank unleashes an aggressive rate hike.

Amid an inventory glut and flagging profits, Target said its 63-year-old CEO will stay on for three more years, even though he was mandated to retire in two. The retailer joins a growing list of companies to nix age limits in the C-suite. Today, we’ll dig into why the rule exists but is falling out of fashion. Plus, an equal pay win for the U.S. women’s soccer team and a TikToker who makes monetary policy fun.

Russia said Friday it would not resume pumping natural gas to Europe through the Nord Stream pipeline. By Monday, one gas benchmark had shot up 30%. Governments are spending big to keep utility companies afloat, which could be pushing some countries to the brink of financial crisis. We’ll talk about it, plus energy news stateside and a sobering look at problem gambling as legal sports betting expands.

Today, California Gov. Gavin Newsom signed a law aimed at improving wages and working conditions for fast food workers in the state. It’s an industrywide victory for the labor movement in a year that’s seen plenty of union wins. In today’s show, we’ll check the pulse of labor organizing in the U.S. Plus, a change to questions asked in federal labor surveys and a celebrity’s crusade for child literacy.

Today, we’ll unpack the August national jobs report, which shows job growth as not too hot, not too cold. We’ll also look into who shoulders the burden of the employment slowdown most and who’s coming in off the sidelines of the labor market. Plus, inflation hits rural America harder, and a union representing musicians takes aim at streaming services.