Marketplace All-in-One

The U.S. Dollar Index has fallen sharply in the last few weeks, thanks largely to tariff flip-flopping and overall economic uncertainty. Typically, significant sustained changes in a currency’s value indicate the relative strength of a nation’s economy. Should we be worried? Also: New tariffs triggered a January import rush that will ding GDP, student loan borrowers are temporarily blocked from income-driven repayment plans and Amazon pulls back on its brick-and-mortar grocery biz.

In this episode, Kai and Kimberly divide into the back and forth over tariffs. The on-again, off-again levies are making it tough for industries to plan and trade. With all the uncertainty, are markets — from stocks to agriculture — on the verge of becoming untradable? Plus, we’ll wryly smile at a biting, century-old song about farmers who were ticked off about tariffs. (Thanks to our listener, Robert, for sharing his rendition!) Here’s everything we talked about today: “China’s retaliatory tariffs on agricultural goods will squeeze farmers”“Chinese tariffs on U.S. farm products take effect as trade tensions mount”“An ‘Untradable’ Market: Trump Sows Profound Uncertainty for Stocks”“Nebraska folklore pamphlet: Farmers’ Alliance songs of the 1890’s” Join us tomorrow for “Economics on Tap.” The YouTube livestream starts at 3:30 p.m. Pacific time, 6:30 p.m. Eastern.

Miami Beach has long been a famous (or infamous) destination for spring break revelers. But the city is starting to be over it; past spring breaks have devolved into stampedes, stabbings and even fatal shootings. Now, the city has drawn up rules to keep tourists and residents safe — but some locals wonder how that could affect businesses that rely on spring breakers. Also: less environmental regulation and rising corporate bond yields.

Federal agencies have until today to submit reorganization plans to the Office of Management and Budget. Those plans include layoffs, and the Social Security Administration is not immune. The agency is slated to reduce its staff by 7,000 employees, and many are worried about the problems that could result. Then, a wide-ranging antitrust probe into Microsoft is moving ahead, and students are suing the feds after staff cuts at federally-run tribal colleges.

From the BBC World Service: The president of Germany’s central bank, Joachim Nagel, has told the BBC that tariffs under U.S. President Donald Trump could push Germany into another recession — and he backs the European Union’s retaliatory actions. Also: The U.S. is once again sending military aid and intelligence support to Ukraine, which may unlock a multibillion-dollar rare mineral deal between the two countries. We’ll hear more.

This week, we’ve been exploring the lasting impacts of the COVID-19 pandemic. In March 2020, we spoke about what might happen with futurist Amy Webb, the CEO of the Future Today Strategy Group. She predicted, among other things, that we would give up more personal data around our health and location. Then on the show in 2021, she said more definitively that privacy was dead. This week, Marketplace’s Stephanie Hughes spoke with Webb again. They discussed the current state of digital privacy, the lessons not learned from the pandemic and, as Webb sees it, the victory of politics over planning.

A new contender has entered the podcast landscape: wait, is that California Governor Gavin Newsom? His show features a surprisingly conservative guest list, including MAGA stars Steve Bannon and Charlie Kirk. Kai and Kimberly break down the fourth wall and discuss whether there’s value in platforming guests who hold a different set of values. Plus, more federal layoffs took place this past week, this time in the U.S. Department of Education and its civil rights division. Then, the hosts get smiley about rescue dogs in a sled dog race (thanks, Abigail!) and the birds in Kai’s neighborhood. Here’s everything we talked about today: “Gavin Newsom Finds Some Surprising Common Ground With Steve Bannon” “Massive Layoffs at the Department of Education Erode Its Civil Rights Division” “U.S. Department of Education Launches “End DEI” Portal” “This Iditarod musher is racing with mostly rescue dogs from Alaska shelters” Merlin Bird ID Seek app Got a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

Just 44% of employees feel confident about the next six months at their company, a Glassdoor survey found — the lowest in nine years. Thank government layoffs, tariff uncertainty and a toughening job market. Are these negative predictions warnings of a coming recession? Also in this episode, the overall cost of food at home was flat in February, electric grid battery storage grew 66% in the U.S. last year, and Angelenos worry dumped wildfire debris could be toxic.

Elevator parts, beer cans, gym equipment, metal furniture — these are just a few of the hundreds of goods now subject to President Donald Trump’s 25% tariffs, not just on steel and aluminum but lots of things made from those metals. The tariffs are coming amid concerns trade policy could cause a recession. We’ll hear more. Plus, solar power is on a tear, and inflation dipped amid market uncertainty.

Delta, American, Southwest and United have all cut their first-quarter growth forecasts or warned of slowing demand. This downturn comes five years to the week after the official start of the COVID-19 pandemic, when airlines faced a truly existential threat. We take a look back. Plus, in a much-needed break, the consumer price index showed cooling inflation in February. And we break down expansions in steel and aluminum tariffs.

From the BBC World Service: Greenland remains in U.S. President Donald Trump’s sights, but residents of the vast, mineral-rich Danish territory have elected a pro-business, pro-independence party in its general elections. We’ll hear more. Also: Another morning, another set of tariffs. The European Union hits back with reciprocal tariffs after the U.S. imposed a blanket 25% tax on steel and aluminium imports. And what’s the Chinese response to U.S. import taxes?

In the spring of 2020, 77% of American public schools moved to online distance learning when the pandemic hit, according to data from the U.S. Department of Education. Prior to the pandemic, you could say that schools were trickling into the digital age. Then, when COVID changed everything, they were basically tossed into it. Some educators adapted quickly, like Bebi Davis, who was working as a vice principal in Honolulu at the time. She’s now principal of Princess Victoria Kaiulani Elementary. Going totally virtual, she said, meant introducing an onslaught of technology — videoconferencing, classroom management software and messaging systems. Marketplace’s Stephanie Hughes asked Davis about the school system’s experience adopting so much tech all at once.

Back in 2018 — the last time President Donald Trump led a trade war — some businesses got tariff exemptions if they imported goods that couldn’t be sourced in the U.S. Was the process to apply smooth and transparent? Well … no. Will today’s businesses have the same opportunity? That remains to be seen. Also in this episode: Home improvement stores launch AI helper bots, corporate forecasts aim low, and small businesses hesitate to hire.

Five years ago, the World Health Organization declared COVID-19 a pandemic. Since then, there have been lockdowns, a recession, two presidential elections and more than a million American lives lost from the disease. In many ways, life feels like it’s back to normal, but David Wallace-Wells, a writer for The New York Times, argues that the pandemic still has a grip on American life, from our faith in public health institutions to the way consumers feel about the economy. On the show today, Wallace-Wells walks us through how Americans neglected to process the seismic impact of the pandemic in the rush to recover from it, and how it’s left us more self-interested and less empathetic. Plus, how this can help explain disgruntled consumers and a growing appetite for risk-taking in the economy. Then, we’ll get into how responses to public health emergencies have shifted to the realm of the private sector. And, we’ll hear listeners’ reflections on the COVID-19 pandemic, five years on. Here’s everything we talked about today: “Opinion | How Covid Remade Our America, Five Years Later”“30 Charts That Show How Covid Changed Everything in March 2020”“Gyms, pets and takeout: How the pandemic has shifted daily life”“It’s Not the Economy. It’s the Pandemic.”“Opinion | Covid’s Deadliest Effect Took Five Years to Appear”“More Universities Are Choosing to Stay Neutral on the Biggest Issues” Got a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

Americans took on an additional $74 billion in credit card debt last year, according to WalletHub, which is actually a smaller increase than we saw in 2023. But in 2024, Americans defaulted on $59 billion in credit card debt — a 34% jump from 2023. We’ll hear more. Also on the show: China’s deflation woes, a major crypto heist tied to North Korea and the market ripple effects of continued uncertainty.

Markets are a bit calmer this morning, after the NASDAQ had its steepest drop since 2022 and the S&P 500 tumbled 2.5% yesterday. Investors are looking forward to new data out today and this week that might offer insights into U.S. economic health. This comes after the Trump administration discounted market reaction to its tariff policies. Then, what economic legacies have been left by the COVID-19 pandemic five years on?

From the BBC World Service: Asian stock markets have continued to fall as investors raise concerns about the detrimental impact of President Donald Trump’s tariffs and a potential U.S. recession. Then, on the final day of the National People’s Congress, progress on artificial intelligence has been celebrated. And hackers allegedly linked to North Korea have cashed out at least $300 million of their record-breaking $1.5 billion heist from crypto company Bybit.

Five years ago today, after the World Health Organization declared the COVID-19 outbreak a pandemic, there was a widespread shift to remote work for many workers who were considered nonessential. And people had to get used to seeing their colleagues mainly on a screen. In recent years, some companies have required employees to return to the office full time. But remote work remains a major part of many people’s lives, far more than in 2019. Marketplace’s Stephanie Hughes spoke with Anita Blanchard, a professor of psychological and organization science at the University of North Carolina at Charlotte, about what’s lost when workers don’t interact in the same physical space.

On today’s episode, Kai and Kimberly discuss the future of Biden-era clean energy tax credits under Trump 2.0. A group of GOP lawmakers want them to stay. Meanwhile, the administration is rescinding memos that pushed for climate change-resilient infrastructure. Plus, the hosts weigh in on the arrest of a Palestinian activist and Columbia University student by Immigration and Customs Enforcement agents. Is this the first arrest of “many to come?” Finally, we’ll smile as the cherry blossoms in Washington, D.C., get closer to full bloom. Here’s everything we talked about today: Trump Says Columbia Student Arrest Is First of Many to Come“House Republican support grows for keeping clean energy tax breaks”“Transportation secretary rescinds Biden memos prioritizing infrastructure resilience to climate change”“2025 Cherry Blossom Peak Bloom Forecasts” Got a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

Terri Bromberg lost her home of 20 years in the Los Angeles fires. Rather than rebuild, the artist and professor chose to sell and move elsewhere. Prospective buyers put in bids without being able to see the plot of land in person. In this episode, Bromberg and her real estate agent tell us about the process of selling in the Pacific Palisades since the wildfires. Plus: China announces retaliatory tariffs on some U.S. agricultural products, Americans lose confidence in their financial futures, and why Tesla’s stock price has slumped.