Waylon Wong

Thanks to its cat bond, Jamaica is going to get $150 million.

In fact, the money just hit the country's bank accounts this week.

So the more investors who get into cat bonds, then if markets work like they're supposed to, the better rates that countries like Jamaica can get.

And the better rates insurance companies can get on the reinsurance they need.

Right now, the price of reinsurance is actually going down, in part because of competition from cat bonds.

Planet Money Plus supporters get this and every episode without any sponsor messages.

They get bonus episodes, but more importantly, they're supporting this journalism you are hearing right now directly, which means we can rely less on sponsors or anyone.

Sign up at plus.npr.org slash planet money.

And I'm Waylon Wong.

This is NPR.

Thanks for listening.

And this is not the first time Trump has raised this possibility of interfering with the Fed or even firing Powell. Trump has been loudly critical of Powell for years now. And since January, the president has accused him of playing politics by keeping interest rates high.

And this is not the first time Trump has raised this possibility of interfering with the Fed or even firing Powell. Trump has been loudly critical of Powell for years now. And since January, the president has accused him of playing politics by keeping interest rates high.

And this is not the first time Trump has raised this possibility of interfering with the Fed or even firing Powell. Trump has been loudly critical of Powell for years now. And since January, the president has accused him of playing politics by keeping interest rates high.

And I'm Weyland Wong. Why is the independence of the Federal Reserve so sacred? Why does just the idea of Trump interfering with the Fed send economists into a tizzy?

And I'm Weyland Wong. Why is the independence of the Federal Reserve so sacred? Why does just the idea of Trump interfering with the Fed send economists into a tizzy?

And I'm Weyland Wong. Why is the independence of the Federal Reserve so sacred? Why does just the idea of Trump interfering with the Fed send economists into a tizzy?

The Fed has more credibility. Investors and the public generally believe it will try to do what it takes, and that's important in getting the job done.

The Fed has more credibility. Investors and the public generally believe it will try to do what it takes, and that's important in getting the job done.

The Fed has more credibility. Investors and the public generally believe it will try to do what it takes, and that's important in getting the job done.