Interest rates, inflation and the American consumer

The 1979 disaster at the Three Mile Island nuclear power plant helped define the energy conversation in the United States. Now it’s being reopened to help power artificial intelligence. We’ll get into the deal between the owner of the plant and Microsoft. Plus, the hosts weigh in on how some schools are warming up to AI and whether companies should take a political stand in a game of Half-Full/Half-Empty. Here’s everything we talked about: “How Sparing the Parkland Shooter’s Life Changed Florida’s Death Penalty” from The Marshall Project “Microsoft AI Needs So Much Power It’s Tapping Site of US Nuclear Meltdown” from Bloomberg “Three Mile Island’s Nuclear Plant to Reopen, Help Power Microsoft’s AI Centers” from WSJ If you’re in the Denver area, join Kimberly Adams for a live panel discussion on the economics of being single on Sept. 23. Make Me Smart listeners get a discount with the promo code SMART. And if you can’t make it in person, join the livestream on Monday at 6:30 p.m. Mountain time.

This year, fake content generated by artificial intelligence hasn’t created the massive election mess that many assumed it would in the United States … at least not yet. At a Senate hearing, tech executives pointed to recent efforts by Russia, China, and Iran to interfere with the upcoming election. And, no, the Teamsters union did not endorse former President Trump. We’ll explain. Plus, we’ll get into the ongoing strike at Boeing and Vice President Kamala Harris’ plan for a cap on childcare costs. Here’s everything we talked about today: “Censorship accusations loom over Big Tech hearing on election threats” from The Verge “Teamsters union declines to endorse Trump or Harris in presidential race” from NPR “Harris wants to limit child care costs to 7% of family income” from CNN Politics “Transportation Secretary Pete Buttigieg on the economy, potential U.S. port strike and Boeing strike” from CNBC “Boeing Workers Go on Strike: What to Know” from The New York Times “Boeing Furloughs White-Collar Workers as Strike Worsens Cash Crunch” from The Wall Street Journal Join us tomorrow for Economics on Tap. The YouTube livestream starts at 3:30 p.m. Pacific time, 6:30 p.m. Eastern.

The Federal Reserve today said it’s lowering its benchmark interest rate by half a percentage point. The rate cut is bigger than we’d predicted, and bigger than what the Fed normally does, but its effects will take some time to ripple through the economy. We’ll also get into former President Donald Trump’s switch-up on the state and local tax deduction cap and why Sen. Rand Paul wants Congress to reclaim power over tariffs. Here’s everything we talked about today: “Federal Reserve lowers interest rates by 0.50 percentage points in first cut since 2020” from CBS News “Dr. Rand Paul Celebrates Constitution Day with the No Taxation Without Representation Act” from Sen. Rand Paul Tweet from Burgess Everett about Rand Paul’s tariff proposal “Trump signals SALT deduction cap reversal” from Axios “Schumer calls out Trump for ‘selective amnesia’ on SALT” from The Hill “NPR Exclusive: U.S. overdose deaths plummet, saving thousands of lives” from NPR We love to hear from you. Email your comments and questions to [email protected] or leave us a voicemail at 508-U-B-SMART.

The Federal Reserve is expected to cut interest rates this week for the first time in four years. It would be a major milestone in the central bank’s long fight to get inflation under control. The Fed changes interest rates to keep inflation in check. But inflation is a complex phenomenon, and people have different ideas about what drives it. On the show today, Harvard economics professor Stefanie Stantcheva explains what Americans believe about the root causes of inflation and how the government should manage it, how views differ along party lines and the role media play. Then, the narrative around retail theft is changing. And, comedian Rola Z who hosts the “Funny Arabs” show in Washington, D.C., answers the Make Me Smart question. Here’s everything we talked about today: “People’s Understanding of Inflation” from the Social Economics Lab at Harvard “The Fed And Public Opinion” from Forbes “What actually happens when the Fed cuts interest rates?” from Marketplace “No, Americans Are Not Completely Stupid About Inflation” from The New York Times “The Growing Use of Voting Before Election Day” from the Center for Election Innovation and Research “America’s stores are winning the war on shoplifting” from CNN Business “Federal Debt Is Soaring. Here’s Why Trump and Harris Aren’t Talking About It.” from The Wall Street Journal “How would Project 2025 impact troops and veterans?” from Military Times We want to hear your answer to the Make Me Smart question. Leave us a voicemail at 508-U-B-SMART or email us at [email protected].

It’s decision week for the Federal Reserve! Chair Jerome Powell and his colleagues are expected to reduce interest rates for the first time since 2020. Investors are predicting a half-percentage-point cut, but we’re on Team 25. We’ll explain why. Plus, the origin of the false rumors about Haitian immigrants that reached the presidential debate stage. And why the cost of your Temu and Shein orders may go up. Here’s everything we talked about today: “Stock Market Today: Investors Bet on Bigger Fed Cut” from The Wall Street Journal “Elon Musk Writes, Then Deletes, a Post Musing About Threats to Biden and Harris” from The New York Times “Biden Takes Aim at China’s Temu and Shein With Trade Crackdown” from The Wall Street Journal “‘It just exploded’: Springfield woman claims she never meant to spark false rumors about Haitians” from NBC News “In celebration of being a terrible gardener” from The Washington Post We love to hear from you. Email your comments and questions to [email protected] or leave us a voicemail at 508-U-B-SMART.

Former President Donald Trump has said he wants to get rid of federal taxes on tips and Social Security benefits. Now he’s adding overtime pay to the list. We’ll get into it. And, could online dating be making income inequality worse? Plus, we’ll weigh in on foldable phones and Friday the 13th superstitions in a game of Half Full/Half Empty! Here’s everything we talked about today: “Next Up in Trump’s No-Tax Zone: Overtime Pay” from The Wall Street Journal “Donald Trump Prepares to Unveil World Liberty Financial, a Cryptocurrency Business” from The New York Times “From Dating to Marriage: Has Online Dating Made a Difference?” from the Federal Reserve Bank of St. Louis “Tech companies commit to fighting harmful AI sexual imagery by curbing nudity from datasets” from AP News “How Taylor Swift’s endorsement of Harris could change the election end game” from ABC News “United Airlines to offer free Wi-Fi using Starlink from Elon Musk’s SpaceX” from CNBC “Walmart is leaning into fashion. Will the move work?” from Marketplace “Huawei’s new trifold phone costs more than a 16-inch MacBook Pro” from The Verge “What is Friday the 13th and why is it considered unlucky? Here’s why some are superstitious” from USA Today Kimberly Adams is headed to the Mile High City. Join us for a live panel discussion on the singles economy Sept. 23 in Denver. Use promo code “SMART” for a special discount on your ticket. We hope to see you there.

Today, SpaceX’s crew of billionaire Jared Isaacman and three other private astronauts completed the world’s first-ever commercial spacewalk. We’ll get into it. And, Congress is quickly approaching yet another deadline to avoid a government shutdown. What’s holding up lawmakers from voting on a temporary spending bill? Plus, we’ll break down what’s been going on with oil prices this week and the latest in Apple’s foray into the world of artificial intelligence. Here’s everything we talked about today: “SpaceX Polaris Dawn astronauts complete 1st private spacewalk (video)” from Space “Speaker Johnson pulls Wednesday vote on government funding plan amid GOP divisions” from CNN Politics “House Speaker Johnson pulls government funding bill” from CNBC “Oil prices close at lowest level since December 2021 as OPEC cuts forecast” from CNBC “Apple Intelligence comes to iPhone, iPad, and Mac starting next month” from Apple Join us tomorrow for Economics on Tap. The YouTube livestream starts at 3:30 p.m. Pacific time, 6:30 p.m. Eastern.

Last night’s presidential debate between Vice President Kamala Harris and former President Donald Trump kicked off with a question about the economy — often cited as the top issue for voters. But the discussion that followed was notably light on economic policy. So, can the state of the economy swing this election? And, we’ll get into more takeaways from the big debate. Plus, are run clubs and grocery stores the new dating apps for singles? Here’s everything we talked about today: “Harris-Trump debate takeaways: Clashes on race, abortion, economy” from AP News “Fact-checking Kamala Harris and Donald Trump’s 1st presidential debate” from ABC News “Trump “less inclined” to do another debate with Harris” from Axios “First it was childless cat ladies. Now it’s eating cats. How the topic led to ‘ALF’ memes” from Yahoo News “Love on Aisle 9? A TikTok Fad Fills Grocery Stores With Singles.” from The New York Times “Run clubs in NYC have just become another oversaturated dating market, singles say” from NBC News Kimberly Adams is headed to the Mile High City. Join us for a live panel discussion on the singles economy Sept. 23. in Denver. Use promo code “SMART” for a special discount on your ticket. We hope to see you there.

The Joe Biden administration announced a final rule aimed at making sure insurance coverage for mental health and substance abuse disorders is on par with traditional medical benefits. We’ll explain why the Supreme Court’s Chevron decision poses a threat to the rule. Plus, the Supreme Court’s emergency docket is filling up with challenges to Environmental Protection Agency standards. And, we’ll talk about a Paralympic marathoner who opted to help out her stumbling guide, even if it cost her a medal. Here’s everything we talked about today: “Supreme Court Is Swamped With Emergency Appeals, Led by Challenges to EPA” from The Wall Street Journal “Biden administration finalizes rule to strengthen mental health parity law” from Reuters “Supreme Court’s Chevron Decision Threatens Decades of Progress in Access to Mental Health Care” from MedCity News “New Mental Health Rule Introduces Employer Benefit Parity Test” from Bloomberg Law “Paralympic Marathoner Loses Medal After Helping Her Guide Yards From Finish” from The New York Times We love to hear from you. Email your comments and questions to [email protected] or leave us a voicemail at 508-U-B-SMART.