Why the Fed cut interest rates

The Federal Reserve cut interest rates by a quarter of a percentage point Wednesday. And this decision comes as President Donald Trump continues to put pressure on the supposedly independent agency to move the economy the way he wants. Plus, the president is reportedly beginning final interviews for Fed Chair Jerome Powell’s potential successor.Here’s everything we talked about today:“Fed lowers interest rates again amid debate over inflation, jobs” from The Washington Post“Trump to start final Fed chair interviews beginning with Kevin Warsh” from CNBC“What a Fed rate cut means for your home, car and credit card loans” from The Washington Post“Watch out for these refinancing red flags” from Marketplace Morning Report

Rare-earth elements help power our everyday electrical devices, and that’s because most batteries are made with minerals like lithium, nickel, cobalt and graphite. As of now, China has the largest reserve of these minerals. But some mining companies are eyeing the deep sea’s floor, says Marketplace contributor Dan Ackerman, because such rare earths form organically way down there. Plus, the ethical concerns that come with this deep-sea mining.Here’s everything we talked about today:“Companies are betting on deep sea mining for critical minerals” from Marketplace Tech“New policies may part the waters for ocean mining” from Marketplace Morning Report“In the depths of the ocean, a new contest between the US and China emerges” from The Guardian“Trump’s New Executive Order Promotes Deep Sea Mining in US and International Waters While Bypassing International Law” from Inside Climate News

As another holiday season kicked off on Black Friday, finding the perfect gift is top of mind for many. But how much will weary American consumers be willing to spend this year? Based on early data … it’s a lot! Marketplace’s Kristin Schwab joins Kimberly to explain why the K-shaped economy may explain the contradiction and why AI is making its way into Americans’ shopping habits. Plus, we’ll play a round of Half Full/Half Empty!Here’s what we talked about on the show today:”September retail sales fail to impress” from Marketplace”Black Friday, Cyber Monday spending expected to top records” from Marketplace”Black Friday Sales Spike Despite Economic Uncertainty, Study Shows—Here’s Why” from Forbes“‘Tis the season for credit card debt” from Marketplace”How are retailers benefiting from the "buy now, pay later" boom?” from Marketplace”What is your Spotify listening age?” from Marketplace”More than 8 in 10 Americans are more likely to purchase secondhand gifts this year” from Retail Brew”Target Launches New AI-Powered Features to Make Holiday Shopping Easier, Smarter and More Fun” from PR NewswireMissed Giving Tuesday? It's always a great time to become a Marketplace investor. Give now: https://support.marketplace.org/smart-sn

The average age of Congress' members has gotten older compared to the Americans it represents. This 119th Congress is the third oldest since 1789. On today’s show, Princeton economist Owen Zidar joins Kimberly to explain how decades of public policy have fueled a generational wealth gap and what our so-called gerontocracy has to do with it. Plus, what it would take for Congress to really address the economic issues younger Americans are facing.Here’s everything we talked about today:”It’s My Party and I’ll Leave When I Want To” from Intelligencer”Gerontocracy is everywhere” from Slow Boring”How baby boomers got so rich, and why their kids are unlikely to catch up” from The Washington Post”The Age Divide: How America’s Electoral System Reinforces the Gerontocracy” from New America”The Everywhere Millionaire” by Owen ZidarWe love hearing from you. Leave us a voicemail at 508-U-B-SMART or email [email protected].

If you could send a message to yourself, 20 years into the future, what would you say? On today’s show, Scientific American’s editor-in-chief David Ewalt joins Kimberly to share how he built an e-mail time capsule two decades ago and how human relationships kept the project alive despite the challenges of a rapidly changing technology and media landscape.Here’s the article we talked about today:"How Forbes Sent E-mails to the Future—And What Happened 20 Years Later" from Scientific American Become a Marketplace Investor today, and your impact will be  doubled. Give now: https://support.marketplace.org/smart-sn

Each year on Black Friday, millions of Americans go out in search of the best holiday season shopping deals. But have you ever wondered about the origins of the holiday? The little ones in your life may be wondering about that too. Today, we’re sharing a special crossover episode from Marketplace kids podcast “Million Bazillion.” Bridget and Ryan team up with the hosts of “Forever Ago” to explain Black Friday’s history. Plus, they share tips on how to shop smarter during the holiday season.

Hey Smarties! Happy Thanksgiving. Today we’re sharing an episode from the latest season of Marketplace’s climate podcast, “How We Survive,” that has to do with the future of what’s on your dinner table. As the planet heats up, the climate of the Midwest is changing. It’s pushing the invisible line separating the humid East and arid West eastward which has major implications for our food supply. In this episode, Amy Scott drives across Kansas to find out how farmers are adapting.

Business has been booming for the online sports betting industry. Prediction markets threw a curveball. On today’s show, sports betting industry writer and analyst Dustin Gouker joins Kimberly to explain how prediction markets are disrupting sports betting and the legal questions surrounding it. Plus, we’ll get into what it means to live in a world where you can bet on anything, anytime from your phone.Here’s everything we talked about today:"Why are sports betting companies getting into the prediction market?" from Marketplace"FanDuel, DraftKings Leaving American Gaming Association" from The Closing Line"From Kalshi to Polymarket to FanDuel, America Is One Giant Casino" from Business Insider"What is Kalshi, the predictions market that’s attracted the NCAA’s attention?" from The Athletic"The Sports-Betting Disaster" from The New YorkerHow to contact the National Problem Gambling HelplineWe love hearing from you. Leave us a voicemail at 508-U-B-SMART or email [email protected].

The holidays are just around the corner. And for many, it might mean being a guest at, or hosting, a friendsgiving get-together or other holiday party. Regardless of which side of the gathering you’re on, it can be stressful. But fret not! Casey Elsass, author of the book “What Can I Bring? Recipes to Help You Live Your Guest Life,” joins Kimberly from New York City to share tips on how to host and attend a great holiday party without breaking your bank account. Plus, we’ll play a round of This or That!Here’s everything we talked about today:“What Can I Bring? Recipes to Help You Live Your Guest Life” from Hachette Book Group“Potluck problems solved: Recipes that travel well and always impress” from MPR News“Americans Need to Party More” from The Atlantic“2024 Is the Year of the Dinner Party” from Eater“Song of the Shirt” from Thomas Hood

The United Nations’ climate summit, COP30, is underway in Brazil. But one country is notably absent: the United States. On today’s show, climate law expert Jennifer Haverkamp joins Kimberly to share her takeaways from COP30 so far and what the United States’ absence means for the future of global climate progress. Plus, the growing debate over whether climate finance should prioritize adapting to climate change or curbing fossil fuels.Here’s everything we talked about today:"Cop30 live: current climate pathway ‘a death sentence for many’, says UN secretary-general" from The Guardian "Debatable: How to fight climate change" from Semafor"With Trump absent from COP30 talks, the world moves on without U.S." from The Washington Post "Brazil Officials Are Divided Over Fossil Fuel Plan at COP30" from Bloomberg"India wants COP30 to focus on climate adaptation, but dries up own fund" from Al Jazeera  We love hearing from you. Leave us a voicemail at 508-U-B-SMART or email [email protected].