Fed rate cut diverges from global central bank strategy

Federal Reserve Chair Jay Powell’s latest presser was all about the job market. Buried among the usual talking points, like hiring sentiment and the unemployment rate, was immigration. That’s because the current administration’s immigration policies are complicating Fed measures of labor market health. In this episode, falling immigration turns jobs data on its head. Plus: Robust economic growth comes without typical job creation, U.S.-China trade tensions cool, and one company teaches AI to sort your trash.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 Federal Reserve cut its key interest rate Wednesday by a quarter point. That’s pretty much what analysts expected. But in other parts of the world, central banks have been signaling that they plan to hold rates steady or even hike them. In this global economy, why is the U.S. out of step? Also in this episode, we hear the pros and cons of quarterly earnings reports, check in on a union-run pipefitting apprenticeship and dig into why wage growth has slowed.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.

When revenue grows, hiring grows — usually. But in November, retail sector job cuts were up nearly 140% year over year, according to outplacement firm Challenger, Gray & Christmas, in spite of strong consumer spending. What gives? Mostly, more automation. Also in this episode: Medium-term bonds send hints about Fed interest rate decisions, an AI bubble burst will come with new jargon, and small business owner optimism is up.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.

We now know some details about the Trump administration’s promised agricultural relief package. Central to the plan is billions in one-time payments to U.S. farmers, who have been hurting under new trade policies and rising equipment costs. Is it enough? Also in this episode: What FOMC members are likely contemplating ahead of this week’s meeting, who will be most hurt by rising ACA health insurance premiums, and why home builders overestimated new construction demand in 2025.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.

Small business owners know affordability is top-of-mind for their customers. But as margins grow narrower, keeping prices as-is isn’t always possible. In this episode, we hear from a few small business owners about how they’re balancing cash-strapped shoppers and rising costs. Plus: The potential Netflix-Warner Bros deal could mean less variety for viewers, Midwestern farmers hope to carve out a market for local oats, and a discussion of the week’s economic headlines.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.

Changes are afoot at the Federal Reserve: President Donald Trump will name a new Fed chair in the coming year, and the central bank’s job could get complicated as the economy absorbs the full impact of new tariffs. In this episode, why Fed independence is crucial and where the federal funds rate is headed in 2026. Plus: Families weigh the cost of child care, the BLS remains behind on data releases, and state farm bureaus offer cheaper health insurance to farmers — with a catch.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.

Small business owners’ economic moods remain mixed. But, as is so often the case, how folks feel is different from how they act. And hard data tells us small business owners are pulling back on hiring — one ADP report shows businesses with fewer than 50 employees cut a net 120,000 jobs in November. Should we be worried? Plus: Retailers benefit from buy now, pay later offerings, import prices sans fuel rose in September, and cap-and-trade carbon emissions programs have changed since their inception.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 Federal Reserve’s quantitative approach to monetary policy decisions means its governors tend to reach consensus. But in the past few meetings, some FOMC members have disagreed on whether to prioritize jobs or inflation. In this episode, “Marketplace” host Kai Ryssdal and former FOMC member Daniel Tarullo discuss why the Fed is divided right now. Plus: Dollar stores weather an uncertain economy, companies use return-to-office policies as a workforce reduction mechanism, and electricity demand grows as data centers pop up nationwide.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 Organization of Petroleum Exporting Countries will hold oil production steady next quarter as global supply remains unusually high, driven by record output from the U.S., Brazil, Canada, and Norway. At the same time, demand is low due to a tipsy global economy and rising EV adoption. Also in this episode: What a no-immigration economy may look like, why Zillow removed climate risk information from home listings, and how food companies introduce healthy versions of staple offerings.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.

Holiday spending tends to drive up U.S. consumers’ credit card debt. In the past, most households were able to pay down that debt come the new year. But as wallets get squeezed, that may not be the case in 2026. Plus: Monopoly celebrates his 90th anniversary, a family moves from a farm to the city, and we visit a lab growing the chocolate of the future.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.