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In the wake of the COVID-19 recession, many economists were describing the United States’ economic recovery as K-shaped. Basically, high-income Americans bounced back quicker than those at the lower end of the income scale. So, did we ever ditch that K shape? The person who coined the phrase “K-shaped recovery” back then, says no. On the show today, Peter Atwater, president of Financial Insyghts and adjunct professor at the College of William & Mary, explains why he believes economic inequality has grown since the pandemic recovery, why considerable wage gains for low-wage workers tell only part of the story and the risks of letting a K-shaped economy run wild.



Then, we’ll get into how the fragility of global shipping supply chains could be playing into Federal Reserve decisions on interest rates. And, happy wedding anniversary, Susanna!



Here’s everything we talked about today:


“The ‘K’ Is Not OK” from LinkedIn
“Inflation Is Bringing Back the K-Shaped Economy” from Bloomberg
“Behind America’s divided economy: Booming luxury travel and a jump in ‘relief’ loans” from CNBC
“A tight labor market and state minimum wage increases boosted low-end wage growth between 2019 and 2023” from the Economic Policy Institute
“U.S. Wealth Inequality: Gaps Remain Despite Widespread Wealth Gains” from the St. Louis Federal Reserve
“First publicly funded religious charter school in US ruled unconstitutional” from The Hill
“Fed’s Bowman Warns of Upside Risks to Inflation, Not Time to Cut” from Bloomberg
“Supply Chain Under Strain as Houthis Intensify Red Sea Strikes” from The New York Times
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Groups aligned with former President Trump are hunting through information to come up with a list of federal employees who might be resistant to a second Trump administration. We’ll discuss the push to reshape government. Plus, is the urban/rural divide a myth? And, a viral voicemail pep talk from a testing center worker makes us smile.

Here’s everything we talked about today:


“In This Debate, CNN Is the Decider” from The New York Times
“Growing rural-urban divide exists only among white Americans” from Cornell Chronicle
“The Number of People Primarily Working From Home Tripled Between 2019 and 2021” from the U.S. Census Bureau
“Conservative-backed group is creating a list of federal workers it suspects could resist Trump plans” from AP News
“A 3-year-old voicemail goes viral, leads to emotional reunion” from The Washington Post
“Why Men Are ‘Rawdogging’ Flights” from GQ

We love to hear from you. Send your questions and comments to makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

Four years after the Internal Revenue Service created a tax credit to help struggling businesses get through the pandemic, the agency ultimately plans to reject the majority of claims filed under the program. We’ll explain how it became swamped with fraud. And, Major League Baseball legend Reggie Jackson opened up about the racism he and other Black players faced in the ’60s. We’ll get into it. And, we’ll play a round of Half Full / Half Empty!

Here’s everything we talked about today:


“IRS says it will deny most claims of pandemic tax credit for employers” from The Washington Post
“With pardons in Maryland, 2.5 million Americans will have marijuana convictions cleared or forgiven” from The Associated Press
MLB Hall of Famer Reggie Jackson remembers Willie Mays from Gary Parrish on X
“It’s Time to Stop Inviting Plus-Ones to Weddings” from The Atlantic
“First Came ‘Spam.’ Now, With A.I., We’ve Got ‘Slop’” from The New York Times
“Netflix House Will Let You Experience Your Favorite Shows, Movies in Real Life” from Netflix Tudum
“What’s to become of summer Fridays in the age of hybrid work?” from CNN
“Surgeon General: Why I’m Calling for a Warning Label on Social Media Platforms” from The New York Times

We love to hear from you. Send your questions and comments to makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

This week, senators grilled Boeing CEO Dave Calhoun about the aviation company’s safety culture and its retaliation against whistleblowers. But these problems are just the tip of the iceberg for Boeing. We’ll explain. Plus, why President Joe Biden’s new immigration plan is a big deal. And, who knew there were this many cricket fans in the U.S.?

Here’s everything we talked about today:


“Boeing CEO Dave Calhoun testifies before Senate committee on safety issues” from CNBC
“‘Why haven’t you resigned?’ Senators torch Boeing CEO as he apologizes for deadly failures” from Politico
“Boeing CEO Dave Calhoun Apologizes for Quality and Safety Issues at Senate Hearing” from The New York Times
“Boeing’s CEO Search Hits Some Snags” from The Wall Street Journal
“President Biden Announces Plan for Undocumented Spouses on DACA Anniversary” from C-SPAN
“Biden immigration program offers legal status to 500,000 spouses of U.S. citizens. Here’s how it works.” from CBS News
“The economy is roaring. Immigration is a key reason.” from The Washington Post
“Supreme Court rejects challenge to tax on foreign corporate investments” from CNBC
“The Supreme Court upholds a tax on foreign income over a challenge backed by business interests” from The Associated Press
“The Supreme Court leaves a Trump-era offshore tax in place on investors” from NPR
“Supreme Court Upholds Trump-Era Tax Provision” from The New York Times
“ Rising Popularity of Cricket in US” from Bloomberg
“Uber Drivers, Techies Score Wins for Team USA at ICC T20 World Cup 2024” from Bloomberg 
“T20 World Cup: The USA cricket team is capturing hearts and minds with historic run” from CNN

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!

In honor of Juneteenth, we’re bringing you an episode of a new podcast from APM Studios that’s especially relevant on this holiday. In the podcast, “What Happened in Alabama?” host Lee Hawkins unpacks his family history, confronts cycles of trauma and grapples with an issue many Black families face: how to keep land in the family.



This episode is about Black land loss. In 1910, Black farmers collectively owned over 16 million acres of farmland. A century later, over 90% of that land is no longer owned by Black farmers. Lee explores that tumultuous history and what Black families can do to hold on to their property.



If you’d like to hear more episodes from the series, you can find “What Happened in Alabama?” wherever you get podcasts.

A recent survey found that almost 15% of Americans have co-bought a home with someone other than a romantic partner, and almost half said they’d consider it. This is part of a larger trend — many Americans are choosing to structure their lives around friends as opposed to a spouse or romantic partner. On the show today, Rhaina Cohen, author of “The Other Significant Others: Reimagining Life with Friendship at the Center,” explains what it really means to build your life around friends and the financial costs and benefits that come with it. Plus, how the LGBTQ+ community has shaped the conversation around the  issue.



Then, we’ll unpack what baby boomers’ retirement readiness says about the wealth gap in the United States. And, the endless possibilities for crab emojis and why our intern, Thalia, was wrong about her curly hair.



Here’s everything we talked about today:


“Why more people are buying houses with their friends” from Axios
“What If Friendship, Not Marriage, Was at the Center of Life?” from The Atlantic
“Inflation Widens Married Couples’ Money Lead Over Their Single Friends” from The Wall Street Journal
“Want financial security in America? Better get married.” from Vox
“Two Women Redefine What it Means to Marry Your Best Friend” from The New York Times
“If you can’t stay indoors during this US heat wave, here are a few ideas” from AP News
“Northeast Heat Wave 2024: This Is a Disaster. Treat It That Way” from Bloomberg
“US Retirement Accounts Are Flush for Millions of Older Americans” from Bloomberg



We love to hear from you. Send your questions and comments to makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.