Every weekday, host Kai Ryssdal helps you make sense of the day’s business and economic news — no econ degree or finance background required. “Marketplace” takes you beyond the numbers, bringing you context. Our team of reporters all over the world speak with CEOs, policymakers and regular people just trying to get by.
A rodeo returns with fanfare and few masks
For many towns in the West and Midwest, rodeos are a boon to the local economy. Despite the delta variant’s surge, many rodeos have made a return in 2021. Marketplace’s Mitchell Hartman takes us to Oregon’s Pendleton Round-Up and chats with locals, tourists and health officials about mask enforcement, a boost to business and the return of a rural tradition. Also on today’s program: The Weekly Wrap, the impact ridesharing has on our climate and a shipping-related holiday gift to discount stores.
The Fed is cautiously optimistic on recovery
The economy is growing strongly as it recovers from its pandemic-induced downturns — so strongly that the Fed has signaled it will start tapering bond purchases soon and may raise interest rates next year. That optimism for economists comes with an asterisk, however, as COVID-19, supply chain issues and inflation threaten to stand in the way of full economic recovery. Also: Afghanistan’s informal money exchange market, New York City’s new protections for food-delivery app workers and Evergrande’s shockwaves in China.
Are developed countries pulling their weight in the climate crisis?
The United Nations General Assembly is meeting this week, and climate change is high on the docket. More than a decade ago, the U.S. and other developed countries pledged to gather $100 billion annually by 2020 to assist in climate adaptation and resilience for developing countries. Despite bearing most of the responsibility for emissions and having the most resources to adapt, pledge countries are falling short of their promised amounts. Also on today’s program, we’ll examine London’s financial services post-Brexit, how disaster aid became coupled with budget bills and why you should care about the Fed’s tapering of bond-buying.
How one massive Chinese company rattled the U.S. stock market
Anxiety over Evergrande, a behemoth property developer in China, and its $300 billion debt sent stock markets around the globe tumbling on Monday. The situation is spotlighting precarity in China’s real estate sector and the country’s economy as a whole; some fear a Lehman Brothers-style crisis. The uncertain future of Evergrande, coupled with supply chain and inflation woes, could continue to stoke market jitters. Plus: Location-based setbacks for new houses, high-frequency data hints about the labor market and mixed business is dished up for New York’s lunch spots.
How vaccines for younger children could boost economic recovery
Pfizer announced today that a smaller dose of its COVID-19 vaccine is proving safe and effective for children ages 5 to 11. If FDA emergency approval goes as planned, kids could be getting their shots by Halloween. This could, among other things, help moms get back to work. And later: how the weather affects what we buy; an Afghan American humanitarian reflects on the recent upheaval; and a look at what corporate pledges actually accomplish.
What can the Fed do about climate change?
Progressive Democrats are pushing President Joe Biden to appoint a Federal Reserve chair who will be more proactive about climate change than Jerome Powell. Before the Fed could act more rigorously, however, Congress would need to direct it to. Claudia Sahm, a former Federal Reserve economist, joins us to discuss. Plus: The Weekly Wrap, some background on that pesky computer chip shortage and the building buzz around drive-thru coffee shops.