Marketplace All-in-One (Marketplace)

Not sure how you’re going to pay for college? Host Yanely Espinal talks with college counselor Teng Yang about the different funding options available to students, and what they should watch out for when making their decisions.

Think you’re financially inclined? Dig deeper into how to pay for college:

• Check out this worksheet to compare financial aid offers, from the National Association of Student Financial Aid Administrators
• Learn more about grants and scholarships from the College Board
• Find scholarships through Federal Student Aid 

Are you in an educational setting? Here’s a handy listening guide.

Thanks for listening to this episode of “Financially Inclined”! We’d love to hear what you learned from it or any questions you’d like us to answer in a future episode. You can shoot us an email at financiallyinclined@marketplace.org or tell us using this online form.

This podcast is presented in partnership with Greenlight: the money app for teens — with investing. For a limited time, our listeners can earn $10 when they sign up today for a Greenlight account.

Can capitalism save us? In 2020, it seemed like the answer was “possibly.” That year, BlackRock CEO Larry Fink shook up the investment world in his annual letter to companies, in which he made climate change a major focus. On CNBC he stated, “We believe a portfolio that focuses on sustainability and climate change will be a portfolio that outperforms … and it will also help the planet.” But that was before a fierce backlash ensued.

In this season of “How We Survive,” we follow the money — from a gathering of religious investors in New York City to a yacht in the Port of Houston — to trace how climate-conscious investing (the E in ESG) evolved from a small corner of the market, to a mainstream strategy, to a bogeyman of the right. We uncover the ways climate-conscious investing lives on today and ask: Can we invest our way out of the climate crisis?

In all the talk about senior White House officials discussing military attack plans over the messaging app Signal (and accidentally invited a journalist to the chat), one detail is being overlooked: the impact of the attacks on Yemen. We’ll get into it. And, we’ll unpack the chilling effect the Trump administration is having on U.S. tourism. Plus, nobody remembers that embarrassing time you misspoke in a Zoom meeting, right?

Here’s everything we talked about today:

• “Foreign Travelers Are Rethinking Travel to the U.S.” from The New York Times
• “Beyond the Signal fiasco, Trump’s Yemen strategy needs more scrutiny” from The Washington Post
• “Here Are the Attack Plans That Trump’s Advisers Shared on Signal” (gift link) from The Atlantic
• “Living Car-Free in Arizona, on Purpose and Happily” from The New York Times
• “The Ford Executive Who Kept Score of Colleagues’ Verbal Flubs” from The Wall Street Journal
• “As Republicans Denounce NPR and PBS, Democrats Mock Hearing” from The New York Times

Help Marketplace and Make Me Smart plan for an uncertain future. Donate now during our March fundraiser.

The artificial intelligence cloud computing provider CoreWeave sold shares to the public today with so-so results. Because it’s the first major IPO of the current generative AI era, some argue that CoreWeave could be a barometer of the AI boom. We’ll get into it. And, a federal appeals court ruled in favor of President Donald Trump’s firings of independent agency heads. The case will likely make its way to the Supreme Court. Plus, we’ll play a round of Half Full/Half Empty!

Here’s everything we talked about today:

• “Appeals court clears way for Trump to fire leaders of ‘independent’ federal agencies” from Politico
• “CoreWeave stock seesaws after IPO in first big test of AI trade” from Yahoo Finance
• “CoreWeave Is A Time Bomb” from Ed Zitron’s Where’s Your Ed At
• “OpenAI Unveils New Image Generator for ChatGPT” from The New York Times
• “DoorDash and Klarna partner to offer buy now, pay later for takeout” from Marketplace
• “Crocs hits record revenue as popularity with younger consumers soars” from Marketplace
• “When should we pay rent with a credit card? from Marketplace
• “Facebook’s New Friends Tab Brings App Back to Its Roots” from The New York Times

Marketplace’s March fundraiser ends today! Chip in now and pick up a classic public media thank-you gift: https://support.marketplace.org/smart-sn

President Donald Trump unveiled sweeping tariffs on American imports, with the levies coming in higher than expected. Do we need to be stockpiling our carts to get in front of rising costs? We asked economists how they’re personally preparing for higher prices. Plus, Reema and Kimberly unpack international responses as countries buckle up to negotiate — or take retaliatory measures. Also, why are we putting tariffs on uninhabited islands near Antarctica?

Here’s everything we talked about today:

• “Tariffs Will Hit All U.S. Imports. Price Hikes for These Items May Surprise You” from The Wall Street Journal
• “Tariff-related layoffs hit five US auto plants that supply factories in Canada and Mexico” from CNN Business
• “Sweeping Trump tariffs shock global economy, draw calls for talks” by AP News
• Watch: “In Full: Prime Minister Anthony Albanese responds to new US tariffs” by ABC News Australia on YouTube
• “‘Nowhere on Earth is safe’: Trump imposes tariffs on uninhabited islands near Antarctica” by The Guardian
• “The Blunt Force Trauma of the Trump Tariffs” from Wired
• “Support Grows for President Trump’s America First Reciprocal Trade Plan” from The White House

Join us tomorrow for “Economics on Tap.” The YouTube livestream starts at 3:30 p.m. Pacific time, 6:30 p.m. Eastern.

On today’s episode, Kai and Reema discuss the disturbing arrest of a Turkish national with a valid student visa at Tufts University and the effects these immigration detentions are having on political speech. Plus, WNBA team New York Liberty got a shiny, new training facility. (No, it’s not a spa!) And, another big oops for National Security Adviser Mike Waltz. You just can’t make this stuff up.

Here’s everything we talked about today:

• “New York Liberty Unveil Practice Facility Amid WNBA’s Race to Attract Talent” from The New York Times
• “DoJ lawyers say detained Tufts student was sent to Louisiana before court order” by The Guardian
• Video: Marco Rubio’s comments on Ozturk’s arrest posted by Aaron Rupar on Bluesky
• “Mike Waltz Left His Venmo Friends List Public” by Wired

Join us tomorrow for “Economics on Tap.” The YouTube livestream starts at 3:30 p.m. Pacific time, 6:30 p.m. Eastern.

The idea that the government should be run more like a business isn’t new. But with two businessmen, Donald Trump and Elon Musk, now taking a proverbial chainsaw to the federal bureaucracy all in the name “efficiency,” this theory is being put to the test. While it’s an appealing idea, Philip Joyce, professor of public policy at the University of Maryland School of Public Policy, said governments can’t afford to take risks the way businesses can. On the show today, Joyce explains the origins of the idea that the government should be run like a business, how we define “success” differently for the two entities, and how the way Trump and Musk do business is showing up in the White House.

Then, we’ll break down the high stakes of today’s special elections in Wisconsin and Florida. Plus, reflections on serendipitous moments in walkable communities and what we gain by admitting we were wrong.

Here’s everything we talked about today:

• “Why Running the Government Like a Business Would Be a Disaster” from The New York Times
• “The US Government Is Not a Startup” from Wired
• “The US Postal Service has been struggling for years. Now Trump’s talking about privatizing it” from AP News
• “DOGE wants businesses to run government services ‘as much as possible’” from The Washington Post
• “UPDATE: RECOVER Long COVID pathobiology grants restored” from The Sick Times
• “NIH restores some long COVID grants” from C&EN
• “What to Watch in Wisconsin’s Supreme Court Election and Florida’s Special Elections” from The New York Times
• “What to watch for Tuesday in Wisconsin’s high-stakes Supreme Court race and special elections in Florida” from CNN Politics
• “Control of the Wisconsin Supreme Court is at stake in race that’s drawn powerful political interests” from AP News
• “Volume 52 | Issue 1 | February 2025” from the American Ethnological Society

Got a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

President Donald Trump has promised that a fresh wave of tariffs on April 2 will usher in an era of growth in American manufacturing. But does history bear that out? We’ll explain how steel tariffs under President George W. Bush did more harm than good. And, in response to Trump’s trade agenda, the “buy Canadian” movement is gaining steam. American exporters are already feeling it. Plus, we’ll smile about flowers, parties and the unspoken rules of texting.

Here’s everything we talked about today:

• “As ‘Buy Canadian’ grows, more US companies say retailers shunning their products” from Reuters
• “Republicans scramble to shield their states from Trump’s next wave of tariffs” from Politico
• “Why steel tariffs failed when Bush was president” from Politico
• “Are You a Hostile Punctuator???” from Time
• “‘God’s way of smiling at us’: Iconic DC cherry blossoms create lasting joy, new beginnings” from USA Today

Got a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

The United States and Ukraine are weighing a deal that would give the U.S. a cut of revenues from Ukraine’s rare earth minerals. But Gracelin Baskaran, mining economist at the Center for Strategic and International Studies, said rare earths aren’t all that rare. So why is the Trump administration scrambling to get its hands on these minerals from other countries? On the show today, Baskaran explains what rare earths are, why mining them isn’t always economically attractive, and what the U.S. is doing to try to catch up with China’s rare earth production. Plus, why recycling is only part of the solution.

Then, we’ll get into why Canadians are boycotting American vacations. And, how easy is it to get someone to dream about a tree or supply chain economics?

Here’s everything we talked about today:

• “Opinion | How Trump Can Turn the Ukraine Mineral Deal Into Real Security” from The New York Times
• “US seeks to reopen terms of Ukraine minerals deal” from Financial Times
• “Fact Sheet: President Donald J. Trump Takes Immediate Action to Increase American Mineral Production” from the White House
• “Ukraine mineral deal could bolster U.S. supply of key materials” from Marketplace
• “Why does DRC want a Ukraine-like minerals deal with Trump, amid conflict?” from Al Jazeera
• “The Space Station Is Too Clean, and It’s Making Astronauts Sick” from The Wall Street Journal
• “Canadians Are Boycotting American Vacations” from The Wall Street Journal

Got a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

Keyed to President Donald Trump’s tariff announcement today, Kimberly and Sabri unpack some of the messaging about the impact tariffs had during the president’s first term and explain why many of those claims are overblown. Plus, why we’re smiling about Sen. Cory Booker’s historic speech and how Sabri fell victim to April Fools’ Day shenanigans! (Note: This episode was recorded prior to Trump’s speech.) 

Here’s everything we talked about today:

• “Trump’s Tariffs Make the Fed’s Interest Rate Decisions Tougher” from The New York Times
• “Tariffs Work — and President Trump’s First Term Proves It” from The White House
• “Economic View: Tariffs Have Strengthened the U.S. Economy” from the Coalition for a Prosperous America
• “Economic Impact of Section 232 and 301 Tariffs on U.S. Industries” from the United States International Trade Commission
• “ITC Study Proves Effectiveness of China Tariffs on Boosting Domestic Production, Reducing Dependence on Imports” from the Coalition for a Prosperous America
• “Home Depot to Charge For Parking to Combat Inflation” by Pro Tool Reviews
• “Booker sets new record for longest Senate floor speech” from Roll Call
• @kimberlyadams.bsky.social‬ via Bluesky

Got a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

Rocket — the company behind Rocket Mortgage — has struck a $9.5 billion deal to buy Mr. Cooper, a company that focuses mainly on collecting mortgage payments. That comes less than a month after Rocket bought online real estate brokerage Redfin. What’s behind the buying binge? Then, as part of our ongoing Tricks to the Trade series, we hear tips and reflections from flower purveyors at London’s New Covent Garden Market.

Some restaurants are still digging out of the hole the COVID-19 pandemic put them in. Many took on debt to survive the pandemic when they had to shutter; others have debt from before. The costs of those loans are still weighing on many restaurants — especially smaller establishments. We dig in. Also on this morning’s show: the war on ticket scalping, Vietnam’s slashed import duties and a delay in a Panama Canal port deal.

KPMG chief economist Diane Swonk offers a bleak prognosis for the economy after President Donald Trump’s across-the-board tariffs. The risk of a recession has gone up, she says, as has the risk for stagflation. And the job of the Federal Reserve just got much harder. We’ll also learn how the cost of those tariffs will be passed onto consumers and hear a conservative take on tariffs and industry reshoring.

Trump Administration’s shuttering of the Federal Economic Statistics Advisory Committee, which brought outside expertise to government economic statistics, has raised eyebrows among economists about potential impacts on independent policymaking. Claudia Sahm, Chief Economist at New Century Advisors, speaks with Marketplace’s David Brancaccio about what the administration’s moves could mean. And, a new report says that wages for low-income workers have risen rapidly in recent years — but that may not tell the whole story.

From the BBC World Service: As Canada’s prime minister, Mark Carney, says the U.S. is no longer a reliable partner, Canadian businesses that work with American companies are facing a tough decision: continue their trading relationships or try to bring more operations and supply chains home. Also, as card payments rise, the UK sees an unintended benefit for children’s health.

From the BBC World Service: Chinese electric vehicle maker BYD has passed $100bn in annual revenue for the first time, putting Elon Musk’s Tesla in second place. Also, a visit to Europe’s biggest construction site in the south of Denmark: a $7.5bn tunnel being built under the Baltic Sea to Germany.

34%. 32%. 24%. 20%. Those are the additional tariff rates on — in order — China, Taiwan, Japan and Europe that President Donald Trump has imposed. Stock markets are down hard. This morning, we’ll parse how key U.S. trade partners are responding to new duties on goods and hear what all this means for everyday consumers. Also on the show: Why haven’t higher interest rates slowed the job market?

From the BBC World Service: Finland is planning to boost defense spending by $3.2 billion because of security worries. The Nordic country has seen a boom in its defense tech industry since the start of the war in Ukraine. Plus, we’ve been visiting marketplaces as part of our special “Tricks of the Trade” series. This time, we’re at London’s Borough Market, which attracts 20 million visitors a year.

President Donald Trump announced 25% tariffs on cars, trucks and auto parts imported into the U.S. This is on top of other import taxes already in effect. Analysts say tariffs will affect a broad swath of the vehicles sold in the U.S. — both foreign and domestic. Also on the show: how executive actions can complicate financial planning, why applications for income-driven college loan repayment plans were reopened, and how to boost civic engagement.

President Donald Trump is slated to unveil a slew of tariffs today, though we don’t know exactly how high these import taxes will be. What we do know is that a lot of U.S. allies are promising to retaliate in what could be the start of a far-flung trade war. And later: why J&J is in bankruptcy court for its talc suits and how credit card swipe fees are hitting bottom lines.

March Madness is in full swing for both men’s and women’s basketball, but only the former has received a great deal of attention from the sports betting industry. A look at why women’s college hoops, as well as women’s sports in general, are often harder to bet on than their male counterparts. Plus, we look at how economic measures against Chinese shipping could come back to bite U.S. businesses. Also, a glimpse into a new report on how the country is doing on infrastructure. And, we chat with Larry Adam, Chief Investment Officer at Raymond James, about a new report that details the unease in the service sector around recent U.S. economic policies.

Carmakers say sales soared last month as buyers snapped up vehicles in attempts to get ahead of the tariffs President Donald Trump is set to announce later today. Vehicle sales could fall after tariffs are implemented and car prices surge. Plus, U.S. businesses went on a hiring spree in March. How exactly can jobs affect interest rates? We’ll discuss. Then, we’ll look at how London’s millennium-old Borough Market has evolved to serve modern tastes.

On Wednesday, President Donald Trump is expected to announce a tsunami of new tariffs that will apply to all countries. Markets are down sharply here and abroad today in response. We’ve known that these reciprocal tariffs are coming for a while, so why the sharp market reaction now? Also on the program: a bitcoin mining operation in Zambia and a trial involving Norfolk Southern over the 2023 train derailment in East Palestine, Ohio.

Student loan borrowers saw a bit of a reprieve during the pandemic and the following years, with many lenders stopping repayment obligations and freezing interest accrual. That party is now over, and holders of student debt are under increasing financial pressure amid more widespread economic uncertainty. Plus, a look inside Congress to see why Republican lawmakers are looking to overturn Biden-era rules limiting banking fees. And, the latest mortgage rate data may suggest a loosening in the housing market, but some experts advise against drawing any premature conclusions.

From the BBC World Service: Russia and Ukraine have agreed to “eliminate the use of force” in the Black Sea after parallel talks with U.S. negotiators in Saudi Arabia. We’ll hear the latest. Then, the U.K. Finance Minister is expected to outline cuts to welfare and government spending. And a BBC investigation has found that instead of being recycled, the U.K. is shipping millions of used tires to India.

From the BBC World Service: Stock markets in Asia took a hit as traders look ahead to U.S. President Donald Trump’s so-called “liberation day” on April 2, when a raft of tariffs are expected to be announced. Plus, a court in Paris has convicted Marine Le Pen of embezzlement, and a cryptocurrency company plans to roll out small power plants to rural villages in Africa to provide electricity and mine for bitcoin.

A year ago this morning, Baltimore’s Francis Scott Key Bridge collapsed after being hit by a container ship. Six construction workers died, a crucial highway link was destroyed, and shipping at the Port of Baltimore was disrupted for weeks. How have businesses in and around the Port been faring? Plus, Napster may turn into an immersive metaverse for music, and job applications from current and former federal employees are up 50%.

The current economic landscape, marked by tariffs and other policy-driven uncertainty, could be a particularly difficult one for Fed decision-makers to navigate in the next few months. We chat with Susan Schmidt, Portfolio Manager at Exchange Capital Resources, about the latest inflation data and what it means. Plus, federal worker unions are pushing back against the Trump administration’s rollback of collective bargaining rights for government employees. And, the BBC’s Sam Gruet reports on how Canadian businesses are reconsidering their partnerships with U.S. businesses amid tensions between the two countries.

Supporters of the U.S. Agency for International Development are heading to Capitol Hill today to lobby lawmakers. The cutting of budgets and jobs at USAID has derailed aid programs globally. Aid groups say even life-saving humanitarian programs the State Department had promised to protect are faltering. Children, especially, could suffer. Plus, the heads of NPR and PBS appeared at a House hearing yesterday. We’ll unpack and add context.

From the BBC World Service: With tariffs imposed by the U.S. on economies across the globe, we’re gathering reactions from some of the countries affected. China is vowing to fight back while Europe is collectively mulling over how to respond. Some of the world’s poorest countries will be hit hardest — Cambodia and Laos among them. But there could also be opportunities as trading strategies shift and new partnerships emerge.

From the BBC World Service: The global auto industry has been rocked by sweeping 25% tariffs on all imports of cars and car parts to the United States under President Donald Trump. Then, Britain is facing issues familiar to many major economies, including a stretched budget, but the U.K. finance minister has set out how she plans to keep the finances in the black — all while upping defense spending.

This morning, global markets are cratering after President Donald Trump said that new tariffs set to be announced this week will impact essentially all countries. Meanwhile, a key inflation gauge came in hotter than expected on Friday, and consumers have become increasingly cautious about spending. All of this has investors worried. Plus, the host of Marketplace’s “Financially Inclined” podcast joins the show to discuss what you need to know before starting your own business.

From the BBC World Service: As countries wait for confirmation of U.S. trade tariffs, Vietnam has cut import duties on a range of goods, including cars and some agricultural products. Washington’s trade deficit with Vietnam is the third highest of any country, but Vietnam is reliant on manufactured exports. Plus, a trip to the U.K.’s largest flower market and the unsigned U.S.-Ukraine minerals deal.

Bloomberg News is reporting that the Trump administration is considering implementing tariffs on copper, in addition to steel and aluminum. Companies that buy metal for their products are facing higher prices from both foreign and domestic suppliers. Also on the show: a potential ceasefire in the Black Sea agreed to by Russia and Ukraine and a case before the Supreme Court that involves the digital divide and the power of federal agencies.

There’s a lot of hope that artificially intelligent chatbots could help provide sorely needed mental health support. Early research suggests humanlike responses from large language models could help fill in gaps in services. But there are risks. A recent study found that prompting ChatGPT with traumatic stories — the type a patient might tell a therapist — can induce an anxious response, which could be counterproductive. Ziv Ben-Zion, a clinical neuroscience researcher at Yale University and the University of Haifa, co-authored the study. Marketplace’s Meghan McCarty Carino asked him why AI appears to reflect or even experience the emotions that it’s exposed to.

AI company Anthropic recently added web search to its chatbot Claude. It joins other artificial intelligence tools like Perplexity and ChatGPT in delivering one clear answer to a web search query instead of pages and pages of links. Plus, 23andMe declared bankruptcy. So what’s gonna happen to all that genetic data? But first — the Signal group chat heard round the world. A Trump administration official appears to have inadvertently invited a journalist into a conversation about sensitive national security issues on the secure messaging app Signal. The app does offer end-to-end encryption, the gold standard for security in consumer-level messaging apps, but that doesn’t make it foolproof for the most sensitive of data. Marketplace’s Meghan McCarty Carino spoke with Joanna Stern, senior personal technology columnist at The Wall Street Journal, to break down all these topics for this week’s Marketplace “Tech Bytes: Week in Review.”

Chinese President Xi Jinping is pushing for the country to be a global leader in artificial intelligence by 2030 as Beijing competes with Washington to gain an edge in advanced technology. The release of AI chatbot DeepSeek, which stunned industry experts in January, gave a boost to China’s hopes of catching up to the U.S. despite restrictions on the advanced chips used to power AI.

Yes, Napster is still alive and kicking. The peer-to-peer file-sharing company that became synonymous with music piracy in the early 2000s was bought by a company called Infinite Reality Labs last week for about $207 million. It’s the latest in a string of attempts to revive the brand. After it was shut down by the courts in 2001 and declared bankruptcy, Napster returned as a music subscription service, a marketplace for non-fungible tokens and now a virtual reality-metaverse destination. Marketplace’s Meghan McCarty Carino spoke with Harry McCracken, global technology editor at Fast Company, who has been following Napster from the beginning. He says the brand still has some power.

On today’s episode of “Marketplace Tech,” Meghan McCarty Carino speaks with Daniel Cohan, professor of civil and environmental engineering at Rice University, about virtual power plants. These aren’t physical generating stations. They’re more of a network, usually managed by a local utility, that aggregates electricity from  different sources like businesses or homes. Essentially, these customers give energy back to the grid or help the utility balance supply and demand. As electricity demand grows, thanks to power-hungry AI data centers, electric cars and extreme weather, some providers are turning to virtual power plants to reduce strain on the grid.

Last Friday, the Securities and Exchange Commission held its first-ever crypto roundtable, a discussion with industry leaders and skeptics to answer a grand question: how should the SEC regulate crypto? Should SEC officials regulate crypto tokens like bonds and stocks? The agency under President Donald Trump is taking what many see as a friendlier approach to cryptocurrency and has already dropped a number of lawsuits against various crypto exchanges initiated during the Biden Administration. Axios reporter and author of the Axios Crypto newsletter, Brady Dale, returns to the show to discuss why the question of regulating crypto like a security asset is a very complicated one to answer.

There’s been mounting concern in recent years about the harms of social media use for kids. The sites can be addictive, ripe for cyberbullying and contribute to increased rates of body dysmorphia, anxiety and depression.

The growing evidence has led at least a dozen states to pass laws attempting to restrict access to online platforms for kids. The Kids Off Social Media Act, a bipartisan bill in the Senate, would bar minors under 13 from social media.

But despite the risks, there can be benefits to finding communities online, especially for LGBTQ+ teens and young adults. A recent report jointly released by the Born This Way Foundation and the nonprofit Hopelab found that young people in these demographics felt significantly safer expressing their identities online compared to in-person spaces.

Registration for the H-1B visa lottery closed last week. The tech industry has long been the biggest beneficiary of this program for specialized workers. But uncertainty has been spreading due to the Trump administration’s restrictive stance on immigration policy. Even legal immigrants have felt the crackdown. It’s led some companies to advise their H-1B holders not to leave the country for fear that they could be barred from returning. Marketplace’s Meghan McCarty Carino spoke with Gerrit De Vynck, who wrote about risks to the visa program for The Washington Post.

Consumers say they’re fed up with inflation, then they keep spending. But their behavior could be catching up with their anxiety, an economist told us. The clues are in data released today by the Commerce Department. Also in this episode: Can you live on just 13 gallons of water a day? One water-saving group thinks it’s possible. Plus, we look into how cities, farmers and compost brokers are tackling organic waste.

The latest reading marks the fourth straight month of declining consumer confidence, and it fell more than expected. How will the souring mood affect spending and the job market? Also in this episode: Political economist Mark Blyth discusses how President Trump might respond to a potential recession. Plus, why tariffs are making investors wary of the U.S. and a company claims to have a new way to make seawater drinkable.

People feel richer — and spend accordingly — when their assets rise in value. That’s called the wealth effect. But when folks get their retirement account statements for Q1 of 2025, they may feel the opposite, since most of those accounts lost value. Will Americans pull back on their spending as a result? Plus, subcompact cars steer into the sunset, farmers are pessimistic about tariffs, and very small businesses can be a bellwether of economic trends.

Corporate dealmakers hoped merger and acquisition ventures would heat up this year. But the first quarter of 2025 saw the slowest M&A activity in more than a decade, according to Dealogic. In this episode, why firms aren’t shelling out billions to buy another company in this economy. Plus: Nintendo announces a new Switch console, Gen Z suffers in a low-hire, low-fire job market, and a new study shows nonwhite bankruptcy filers face a lower likelihood of debt relief.

Uncertainty about tariffs and trade policy has been top of mind since President Donald Trump’s election in November. We finally know how high those tariffs will be (between 10% and 54%) and to which countries they’ll apply (almost all of them). Now, a key question is: How much will prices rise? In this episode, business owners prep for the costs and some economists predict an economic downturn. Plus: The administration wants the IRS to share undocumented immigrants’ protected information with Homeland Security.

The U.S. economy grew at a 2.4% annual rate in the fourth quarter of 2024, the Bureau of Economic Analysis reported today. That number tells us where the economy was headed coming into this year. But with uncertainty surrounding tariffs, that story has taken a turn. Plus, how sinking credit scores caused by student loan delinquencies could hurt the overall economy, and the dramatic rise in modern-day train heists.

More tariffs are on the way, this time targeting vehicle imports. President Donald Trump favors import taxes, partly because, he argues, they’ll help shrink the U.S. trade deficit. But if tariffs cut Americans’ spending on imports, foreigners are likely to cut their contribution to funding the U.S. budget deficit. Also on the show: BLS economists use not one but six different methods to measure unemployment, and organizational studies professor Elizabeth Popp Berman explains why university endowments can’t simply replace federal funding.

Just how expensive has homeownership become? To afford a typical home, households need an income of about $117,000 right now — a 50% increase from $78,000 in January 2020, according to a Bankrate report. Over the same five years, wages rose  just 27%. What gives? Also in this episode: The dollar’s value drops, Europe weighs economic independence amid tariff troubles and falling enrollment shrinks budgets at rural public schools.