"Marketplace" Live
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What special event is Marketplace Live about?
Hey, everybody. It's Kai. We're dropping something special in the feed today. It's a live show that we did here in Los Angeles about a week, maybe 10 days ago. First of all, Kyla Scanlon, you know her from the program, also maybe from her newsletters and her social feeds. We had her on stage for a while talking to me about everything going on in this economy. And then David Brancaccio. about what's next for him at Marketplace as he moves off the Marketplace Morning Report. As always, you can check things out on our website or sign up for the latest updates from our newsletters, marketplace.org slash newsletters. Hope you enjoy the show.
Stop, stop, stop. They wanted to play the marketplace gong as I came out and then the music. And I was like, so you remember those dreams you had when you were a kid and you wound up in school in your underwear? So this is a true story. I have these things called dead air dreams where I hear that music and in the dream I'm not where I'm supposed to be. It's the worst. And I said, you are absolutely not playing that before I go out in front of 800 people. So there's that. Thank you so much for coming. I am so grateful that you have decided to spend a little bit of time with us today. We have not done a big live show like this in a very long time. And I am probably more pleased than anybody because I spend a whole lot of time locked in a soundproof room talking to a microphone.
So the idea that I get to get out and see actual people truly makes it all worthwhile. The show today is going to come in three parts. We're going to talk about the economy, obviously, and we're going to do it with a woman who has become one of my go-tos as I try to figure out what is happening. Your questions for her are also welcome. You guys have to let me know if my mic dies, and I'll just grab another one. Second, we're going to talk about marketplace and how we do what we do. And we're going to do that with the guy who I truly believe is more responsible for the way the program sounds and how we do what we do than anybody else. Your questions for him as well are welcome. And then finally at the end, for just a couple of minutes, we're going to talk about everything else that's happening, what I make of it, and maybe what it means.
So on to part one of our program. A couple of years ago, I was at work scrolling through my Instagram. Yes, I was at work scrolling Instagram. Don't tell my bosses. But the excuse is it was Fed Day. The Federal Reserve had that day raised its benchmark interest rate, the federal funds rate, by 25 basis points, a quarter of one percentage point. And that was a big deal because if you remember back then, 2023-ish, the middle of that year, Inflation was going up, people a little agitated, COVID was still not completely in the rearview mirror, and it was a very big deal because the Fed also said that day, we don't think there's going to be a recession. And that was good news. So there I am, scrolling my Instagram, and this post pops up.
The Federal Reserve is no longer forecasting our recession, and we just wanted to thank some of the economic stars that got us to where we are today. First off, Taylor Swift. You bought tickets, you booked hotels, and you rode those lift scooters in the middle of the street quite dangerously. Most importantly, you boosted TDP, Taylor Domestic Product. Second, Barbenheimer. And of course, big fiscal, government spending really bolstered this economy. So what did the Federal Reserve do today? We raised rates by 25 basis points. Will we do it again? Maybe. Maybe it depends. It depends on the data because we are data dependent. Data dependent. Data dependent. Data dependent. Data dependent. Data dependent is slowing, but it's not at 2.
2 is elusive. It haunts me. Growth is moderate, but not modest. And we really need this labor market to chill out. Real wages are moving upwards, so that's good. But we don't want that moving too fast.
The point is... The resilience of the economy recently, they are no longer forecasting recession.
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Chapters
6 chapters
1
What special event is Marketplace Live about?
0:00–6:23
2
How is AI influencing the economy today?
6:23–9:44
3
What role does the Federal Reserve play in economic stability?
9:44–11:54
4
How are prediction markets reshaping economic forecasts?
11:54–31:35
5
What challenges are posed by the current housing market?
31:35–42:27
6
How is the war in Iran affecting global markets?
42:27–1:12:35
Speakers
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