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The message from several officials at the Federal Reserve this week? Don’t expect an interest rate cut anytime soon. And we’ll discuss why there’s a chance that “higher for longer” may not be the end of it. Plus, hospitality businesses in New York City say they’re struggling to fill open jobs. New migrants arriving in the city could help solve that problem — if they get authorized to work.

The designation applies to chemicals long used in consumer goods; Israel’s credit rating gets a downgrade from S&P; France requires shrinkflation warnings; American Express profits jump on more consumer spending.

Bitcoin is trading well above where it did in 2023. Friday or Saturday, something called the “bitcoin halving” is supposed to happen — an event that occurs roughly every four years where the number of new bitcoins that come into circulation drops in half. And it’s a big deal for the whole philosophical premise of bitcoin. We’ll unpack. Also on the show: explaining a big filing day for PACs and understanding China’s “Great Firewall.”

From the BBC World Service: Hospitality businesses in New York City have said quicker work permits for arriving migrants could be key to filling vacancies in the sector – but city authorities are struggling to cope with the number of people arriving. Also: Palau was praised for its marine sanctuary that banned commercial fishing. Now, the government wants to allow more maritime industry to boost the economy.

On this week’s show, the United Kingdom is cracking down on makers of sexually explicit deepfakes. We’ll look at what penalizing the practice could mean for the victims. Then, the creator economy has the attention of millions of subscribers, but also venture capital. Why content creators like Dude Perfect on YouTube and other startups are attracting so much investment right now. But we begin with Amazon. The e-commerce giant’s Just Walk Out technology lets shoppers scan an app when they enter a store so they can leave with their purchases without paying at a register. This week, Amazon said there’s growing interest in the technology among retailers outside its empire. Yet the company is reportedly reducing the use of Just Walk Out in its own brick-and-mortar stores. Marketplace’s Lily Jamali spoke with Natasha Mascarenhas, reporter at The Information, for her take on these stories.

The Biden administration is aiming to triple tariffs on Chinese steel to protect U.S. manufacturers. Sound familiar? We’ll explain who is actually paying the price and what raising tariffs would mean for U.S. workers. We’ll also get into why economic data doesn’t always translate into how voters view the economy, especially in an election year. And, what the buzz over the popular animated series “Bluey” is all about.

Here’s everything we talked about today:


“President Biden Gives Remarks on Labor Unions and Manufacturing Jobs in Pittsburgh” from C-SPAN
“Biden vows to shield US steel industry by blocking Japanese merger and seeking new Chinese tariffs” from The Associated Press
“Once again: Who pays for tariffs on Chinese steel?” from Marketplace
“Fed Chair Powell delivers remarks at the Washington Forum on the Canadian economy” from CNBC
“Fed Chair Jerome Powell Dials Back Expectations on Interest-Rate Cuts” from The Wall Street Journal
“It’s getting harder to predict the economy’s effect on presidential elections” from Marketplace
“Caitlin Clark Selected No. 1 Overall by the Indiana Fever” from ESPN
“Wait, Caitlin Clark Is Only Getting Paid $76,000?” from The Wall Street Journal
“Hall of Fame college coach Dawn Staley Reflects on the state of women’s basketball.” from NPR
“Political advertisers worry about reaching sports fans streaming their games” from Marketplace
Bluey “The Sign” Official Trailer
“The Non-Parents’ Guide to Bluey” from Vulture
“Is “Bluey” ending? “The Sign” explained — and the show’s future.” from Vox

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, and play a round of Half Full/Half Empty!