Marketplace All-in-One

The U.S. Federal Reserve meets this week — so do central banks in Japan, England, Canada, and the European Union. Most will keep rates unchanged for now, as war in the Middle East shakes up the global status quo. But as other banks weigh imminent rate hikes, the U.S. may move in the opposite direction. More on why in today’s episode. Plus: Consumer sentiment crept up in April, Medicaid cuts slash pediatric care options, and five Big Tech firms post earnings this week. Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter. Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

The Trump administration has reportedly been in talks to bail out Spirit Airlines, either with a big loan or by buying it. The budget airline had already been struggling, and now faces even tougher times with higher fuel costs. But does that justify bailing it out? Plus, an upstate New York toy and doll shop owner reflects on the stop-start jolts of U.S. trade policy and the challenges of the tariff refund process.

We've talked a lot about the rollercoaster of tariffs. But behind every economic story is a human one, too. This morning, we check in with Joann Cartiglia, who runs a toy and doll shop in upstate New York. She's looking at around $15,000 in tariff refunds. Still, uncertainty, precarity, and debt have put her in "the scariest financial situation" of her life and mean that retirement has “been kind of taken off the table.” But before that conversation: a Federal Reserve meeting and a royal visit with the president.

“Million Bazillion” listeners and brothers John and Peter want to know where game shows get their prize money. It’s the perfect opportunity to answer this question as Ryan and Bridget find themselves competing on a chaotic game show with a chance to win $1 million on the line. While they take on one challenge after another, the duo uncover the surprising ways game shows get the cash for those big prizes. If your family is interested in learning even more about today’s question, check out our website. We’ve got conversation starters and a tip sheet! Love the show? You can help make it happen. Donate what you can at marketplace.org/givemillion.

The International Math Olympiad is a yearly competition for students, most of them high school age, who compete to solve six difficult math problems. They're chosen from a pool of math problems submitted by different countries that participate in the competition. The problems that don't make the cut previously have mostly just been lost; there was no one place you could go to find them. But now a team at MIT’s Computer Science and Artificial Intelligence Lab has gathered over 30,000 of those problems together in one dataset so both humans and AI models can look through and study them. Marketplace’s Stephanie Hughes spoke with Mark Hamilton, a visiting researcher at MIT CSAIL who has been part of the work to gather problems. He’s also a Research Scientist at Google's DeepMind laboratory.

It’s been a trend for a year now — home prices are up even though demand is sluggish. As Americans face growing economic uncertainty and rising costs, many are staying put. So why won’t home prices cool off? We’ll explain. Also in this episode: Tighter budgets mean fewer orders at Domino’s, air taxis take to the sky in New York City, and banks fret over new stablecoin legislation. Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter. Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

In the United States, recidivism rate, or the likelihood that a criminal re-enters the prison system after being released, is among the highest in the world. The state with the highest reincarceration rate (within 3 years) is Delaware at 55.9 percent. While the lowest is Virginia at 17.9 percent. Earlier this month, Make Me Smart host, Kimberly Adams, moderated the 2026 Second Chance Forum at Georgetown University on the importance of second-chance employment programs to lowering recidivism rates in the United States. Adams sat down with two top law enforcement officials from across the aisle: Delaware Attorney General and Democrat, Kathy Jennings and Pennsylvania Attorney General and Republican, Dave Sunday. Today’s podcast is an edited version of their conversation. To listen to the full panel discussion, click the link below: 2026 Second Chance Forum: Barriers to Breakthroughs — How Second Chances Are Driving Success We love hearing from you. Leave us a voicemail at 508-U-B-SMART or email makemesmart@marketplace.org.

As people look to plan their summer vacations, they're being price-conscious. While 60% of Americans plan on traveling, more people will drive instead of flying, and more are opting for shorter trips. Plus, with the end of the Justice Department's investigation into Federal Reserve Chair Jerome Powell, successor Kevin Warsh looks poised for a successful confirmation. And later, we head to Maine to hear how a Maine sea urchin processing firm has survived for four decades.

The U.S. Forest Service is heading for a major restructure. Its headquarters are moving from D.C. to Utah, all regional offices are being eliminated, and dozens of research facilities across 31 states are being shuttered. This is all unfolding before what's expected to be a very active wildfire season. How do these changes affect our ability to fight wildfires? But first, we're digging into the latest economic impacts of war in the Middle East.

Section 702 of the Foreign Intelligence Surveillance Act, or FISA, allows government agencies to collect information about foreign nationals located abroad. That surveillance can happen without a warrant and the government can order email providers to turn over any messages of a particular foreigner, including those with a U.S. citizen. Section 702 is set to expire this week. President Donald Trump has called for its extension, but there are Congressional lawmakers in both parties who oppose the kind of surveillance the law allows for. Elizabeth Goitein at the Brennan Center for Justice has testified before Congress advocating for reform of the law. She says right now it lets agencies search through Americans’ sensitive data.

Companies are using AI tools more every day. Some, like Meta, are even encouraging employees to use as many AI tokens as possible. But companies also spending more to access the technology — most AI firms bill per token, and those costs add up. In this episode, there’s no such thing as free AI. Plus: Procter & Gamble posts strong earnings, Kai visits LA’s first women’s sports bar, and we discuss the latest Federal Reserve news. Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter. Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

Are you team camping or glamping? On today’s show, we’re checking in on the outdoor recreation economy in the Western United States. KUNC’s Mountain West News Bureau reporter Rachel Cohen joins Kimberly to unpack the pressures facing the industry, from climate change to Trump administration policies. Plus, will President Trump’s new $100 foreign tourist fee hurt national parks? Here’s everything we talked about today: "The Mountain West’s outdoor economy continues to grow – but pace may be slowing""Ski resorts gain year-round adaptability in Forest Service rule""Visits to national parks dipped slightly in 2025—after a record-breaking year""Forest Service plans to move D.C. headquarters to Salt Lake City" We love hearing from you. Leave us a voicemail at 508-U-B-SMART or email makemesmart@marketplace.org.

The Federal Reserve has two jobs: promote job growth and control inflation. To do that, it sets interest rates. It also buys bonds and securities to influence those markets, and is now sitting on a massive $6.5 trillion pile. President Trump's nominee for Fed Chair, Kevin Warsh, wants to shrink that asset pile. We'll dig in. Also: optimism from one soon-to-be grad. Plus, how much longer can the standoff in Iran last before oil markets have to respond?

When we talk about who makes up the economy, we're often talking about workers a company formally employs. But a lot of people find themselves working in the informal economy — generally defined as economic activity that falls outside of official regulation. It's not taxed, not tracked, and is mostly invisible to official statistics. Today, we'll dig into its importance and risks. But first, marijuana gets a tax break.

This week, Meta is reportedly laying off 10% of its workers. But in the meantime, it's also capturing their mouse clicks to train its AI models. Plus, Roblox settles with states over child safety concerns. But first, Apple's CEO is stepping down. The company announced this week that CEO Tim Cook is moving on from that role after about 15 years. His successor is John Ternus, a senior vice president of hardware engineering at the company. Marketplace’s Stephanie Hughes spoke with Anita Ramaswamy, a columnist at The Information, about all these headlines for this week’s “Tech Bytes: Week in Review.”

Business activity growth soared in April, according to S&P Global’s purchasing managers index. The topline number might sound rosy, but experts think the growth spurt is really a sign of fear. In this episode, why businesses spent month two of the war in Iran stockpiling goods. Plus: Avis experiences a stock market “short squeeze,” business owners apply for the first round of tariff refunds, and we look back at the 1970s to understand the economics of oil price caps. Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter. Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

The labor force participation rate in the U.S. has fallen to the lowest level it’s been since 1977 (aside from the during the height of the pandemic). One reason for the decline? President Trump’s immigration crackdown. University of Colorado Boulder economist Chloe East joins Kimberly to break down the unexpected ways restrictive immigration policies affect the labor market, and trends she’s paying attention to during this second Trump administration.

The Trump administration announced a big change in how people's credit is assessed when applying for mortgages. Instead of only using FICO scores to prove creditworthiness, prospective homebuyers can now use a separate score model — one that considers things like rent and utility payment history — when applying for loans from mortgage lenders, including Fannie Mae and Freddie Mac. Also on the show: discussions of the market's bullishness and plans for a graduate degree in a tumultuous job market.

Maybe it’s hoarding, or protectionist, or human nature. Whatever you want to call it, some countries have plenty of oil right now — especially wealthier ones with their own refineries and reserves — while others can't get what they need and are rationing fuel. Plus, "starting has always been hard. This era is making it harder," said New York Times bestselling author Jodi Kantor. Today, we hear her job-hunting advice for new grads.

As the U.S. immigration crackdown intensifies, some undocumented people are choosing to leave the country. But what’s the financial and emotional cost of leaving? Reema speaks with immigration lawyer Michael Foote, who is helping his clients navigate this process, as well as two undocumented immigrants at different stages in their departure: Javi (not his real name) is an undocumented college student saving up to move abroad, and Monsy Hernandez left the U.S. for Germany almost ten years ago and now supports others weighing the same decision. If you’re thinking about leaving the U.S., organizations like Onward provide toolkits with resources and information. If you liked this episode, share it with a friend. And let us know what you think by emailing uncomfortable@marketplace.org or calling 347-RING-TIU. Follow us on Instagram and Tiktok!