NPR: Planet Money

In early April, the bond market gave people a scare. Investors began selling off their historically secure U.S. Treasuries in large quantities. It reportedly encouraged President Trump to pause his flurry of liberation day tariffs. These jitters offered a glimpse into what could go wrong for U.S. Treasuries if economic uncertainty gets worse. On today's show, we take a peek at some nightmare scenarios for the bond market.Related episodes:Who's advising Trump on trade (Apple / Spotify)IRS information sharing, bonds bust, and a chorebot future (Apple / Spotify)Bond vigilantes. Who they are, what they want, and how you'll know they're coming (Apple / Spotify)Is the reign of the dollar over? (Apple / Spotify)For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

The U.S. exports billions of dollars worth of agricultural products each year - things like soybeans, corn and pork. And over the last month, these exports have been caught up in a trade war. U.S. farmers have been collateral damage in a trade war before. In 2018, President Trump put tariffs on a bunch of Chinese products including flatscreen TVs, medical devices and batteries. But China matched those tariffs with their own retaliatory tariffs. They put tariffs on a lot of U.S. agricultural products they'd been buying, like soybeans, sorghum, and livestock. That choice looked strategic. Hitting these products with tariffs hurt Trump's voter base and might help China in a negotiation. And in some cases, China could find affordable alternative options from other countries.Today on the show: what happened in 2018, how the government prevented some U.S. farms from going bankrupt, and what was lost even after the trade war ended.This episode was produced by Sylvie Douglis and edited by Jess Jiang. It was engineered by Robert Rodriguez and fact-checked by Sierra Juarez. Alex Goldmark is our executive producer. Find more Planet Money: Facebook / Instagram / TikTok / Our weekly Newsletter.Listen free at these links: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.

The U.S. is known around the world for its problem with gun violence. The vast majority of murders in the U.S. are committed using guns. But what leads one person to shoot another? The "conventional wisdom" says gun violence is usually the act of calculated criminals or people acting out of desperate economic circumstances. But economist Jens Ludwig believes the conventional wisdom is wrong. Today on the show, he explains why he believes many of us fundamentally misunderstand the problem of gun violence and how behavioral economics reveals some potential solutions. Jens's new book detailing his research into gun violence is called "Unforgiving Places: The Unexpected Origins of American Gun Violence".Related episodes:Can credit card codes help address gun violence? The money going into and out of gun stocksGuns and The Trump SlumpFor sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

Leaders from both major political parties have been working to bring back manufacturing. But American manufacturers say they are struggling to fill the manufacturing jobs we already have.

Where does NPR get its funding? Today on the show, we open our books and share a brief history of public radio. And we learn what's at stake with President Trump's executive order to cut off federal funding to NPR. Under NPR's protocol for reporting on itself, no corporate official or news executive reviewed this story before it was posted publicly. For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

Robots have been a thing for a long time, but they've never quite met expectations. While AI has changed the game for chatbots, it's not quite so clear for robots. NPR science desk correspondent Geoff Brumfiel spoke to our colleagues over on our science podcast Short Wave on how humanoid robots are actually developing with the help of artificial intelligence. It was a fascinating discussion and so we are sharing that conversation with you today on the Indicator. Related episodes: Is AI underrated? (Apple / Spotify) Is AI overrated? (Apple / Spotify) Dial M for Mechanization (Apple / Spotify) For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

For decades, dollars have been the world's common financial language. Central banks everywhere hold dollars as a way to safely store their wealth. Countries, businesses, and people use it to trade; around 90% of all foreign exchange transactions involve dollars. It's the world's money, the world's "reserve currency."But what if that is changing? What if the world stops seeing the dollar as safe? Today on the show, what is a "reserve currency"? Why is it the dollar? And if the dollar falls from favor, what will replace it?This episode of Planet Money was produced by Emma Peaslee with help from James Sneed. It was edited by Marianne McCune with fact checking help from Sierra Juarez. It was engineered by Kwesi Lee. Alex Goldmark is our executive producer. The Dollar Trap by Eswar PrasadExorbitant Privilege by Barry EichengreenOur Dollar. Your Problem by Ken RogoffFind more Planet Money: Facebook / Instagram / TikTok / Our weekly Newsletter.Listen free at these links: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Music: NPR Source Audio - "Virtual Machine," "Fake Blood" and "Successful Secrets"

It's ... Indicators of the Week! Our weekly look at some of the most fascinating economic numbers from the news. On today's episode: China bulks up for a financial chill, how much Americans should save for a rainy day, and the price of used cars goes up.Related episodes:America's small GDP bump, China's big stimulus dispersal, and a Monkey King (Apple / Spotify)How nonprofits get cash from your clunker (Apple / Spotify)IRS information sharing, bonds bust, and a chorebot future (Apple / Spotify)For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

President Trump has flirted with firing Federal Reserve Chair Jerome Powell since returning to office, but can he legally do that? Not without good cause. Today on the show, the danger of Trump's amped up attacks on Powell and the Fed's independence. Follow Chris Hughes on Substack. Related listening: A primer on the Federal Reserve's Independence (Apple / Spotify) Arthur Burns: shorthand for Fed failure? For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

Virtually every product brought into the United States must have a so-called "country of origin." Think of it as the official place it comes from. And this is the country that counts for calculating tariffs.But what does it really mean when something is a "Product of China"? How much of it actually comes from China? And how do customs officials draw the line?Here in the U.S., the rules are delightfully counterintuitive. A product's country of origin is not necessarily where that product got on the container ship to come here. It's not necessarily where most of its ingredients are from or even where most of the manufacturing happened.Our system is much stranger. The answers can be surprisingly philosophical - and at times, even poetic.This episode of Planet Money was produced by James Sneed with help from Sylvie Douglis. It was edited by Jess Jiang, fact-checked by Sierra Juarez, and engineered by Kwesi Lee. Alex Goldmark is our executive producer.Find more Planet Money: Facebook / Instagram / TikTok / Our weekly Newsletter.Listen free at these links: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.

Many businesses are scared of what President Trump's tariffs will mean for their industry. However, the shrimping industry is one that doesn't seem to be worried. In fact, shrimpers say they welcome them. On today's episode, why shrimpers are embracing the tariffs and whether economists agree that this tariff is good for Americans.Related episodes:Tariffied! We check in on businesses (Apple / Spotify)Go ask ALICE about grocery prices (Apple / Spotify)What the cluck is happening with egg prices? (Apple / Spotify)For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

Two American farmers tell us how they're feeling about a trade war that targets the soybean industry's biggest customer: China. Related episodes: How many times can you say uncertainty in one economic report? (Apple / Spotify) Why Trump's potential tariffs are making business owners anxious (Apple / Spotify)For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

The Beigie Awards are back to recognize the regional Federal Reserve Bank with the best Beige Book entry. On today's episode, we shine a spotlight on a Midwest food bank. Related episodes: Why Midwest crop farmers are having a logistics problem (Apple / Spotify)How many times can you say uncertainty in one economic report? (Apple / Spotify) For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

Why is it so hard to find a bathroom when you need one? In the U.S., we used to have lots of publicly accessible toilets. But many had locks on the doors and you had to put in a coin to use them. Pay toilets created a system of haves and have nots when it came to bathroom access. So in the 60s, movements sprung up to ban pay toilets.Problem is: when the pay toilets went away, so too did many free public toilets. Today on the show, how toilets exist in a legal and economic netherworld; they're not quite a public good, not quite a problem the free market can solve.Why we're stuck, needing to go, with nowhere to go.This episode was produced by Willa Rubin with help from James Sneed. It was edited by Marianne McCune and engineered by Cena Loffredo. It was fact-checked by Sierra Juarez. Alex Goldmark is our executive producer.Find more Planet Money: Facebook / Instagram / TikTok / Our weekly Newsletter.Listen free at these links: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Music: Audio Network - "Smoke Rings," "Can't Walk Away" and "Bright Crystals."

President Trump's federal cuts and scrutiny of academic institutions are forcing some U.S. scientists to head for the border. On today's show, an entomologist keeping America's farms safe from pests reconsiders America. And a CEO of a Canadian hospital explains how they are benefiting from the exodus. Related episodes: How much international students matter to the economy (Apple / Spotify) What happens when billions of dollars in research funding goes away (Apple / Spotify) A 'Fork in the Road' for federal employees (Apple / Spotify) For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

Many international students are rethinking their education in the United States as the federal government revokes visas, often over minor infractions. A shift away could carry a heavy economic toll, as international students contributed $44 billion to the U.S. economy last school year. So what happens when a generation of bright-eyed scholars decide to forgo school in the U.S. and take their dollars elsewhere?Related episodes:Do immigrants really take jobs and lower wages? (Apple / Spotify)The long view of economics and immigration (Two Indicators) (Apple / Spotify)For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

Stablecoins are the latest digital asset to grab headlines. Congress is considering legislation around the cryptocurrency, and a Trump family-affiliated company is preparing to launch its own Stablecoin. But does this digital currency live up to its own name? Related episodes:What's this about a crypto reserve? (Apple / Spotify) Is 'government crypto' a good idea? (Apple / Spotify) WTF is a Bitcoin ETF? (Apple / Spotify) For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

On today's show: we're ... venting.We at Planet Money are an ensemble show - each with different curiosities and styles. But we recently realized many of us have something in common: We're annoyed consumers.So we're going to get ranty ... but then try to understand the people annoying us. Like stingy coffee shops, manufacturers that don't design things for repair ... and stores that send way too many emails every day.Along the way, we learn a very sad thing about satisfaction and the future of skilled labor in the U.S.(Also, we should all just stop using umbrellas. They have negative consumption externalities. Come on people.)This episode was produced by James Sneed. It was edited by Marianne McCune, fact-checked by Sierra Juarez, and engineered by James Willetts. Alex Goldmark is our executive producer.Find more Planet Money: Facebook / Instagram / TikTok / Our weekly Newsletter.Listen free at these links: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.

A new study shows how partisan politics has long influenced whether Americans trust the Fed. And how, with Trump's second term, an old pattern may have changed.

As the U.S. goes head-to-head with the rest of the world on tariffs, those countries are trying to figure out their best diplomatic strategy. One dilemma countries have is how close they get with another global superpower: China. On today's show, we hear from Pakistan's Finance Minister Muhammad Aurangzeb about how the country is balancing trade relations with both countries.Related episodes: China's trade war perspective (Apple / Spotify) Dealmaker Don v. Tariff Man Trump (Apple / Spotify) Who's advising Trump on trade? (Apple / Spotify) For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

For weeks, Target has been the subject of a boycott after its decision to pull back on diversity, equity, and inclusion (DEI) policies. And early data shows it's taken a toll on the company. But in other instances, boycotts haven't made much of a splash. Today on the show, when does a boycott actually make a difference?Related episodes:SPAM strikes back (Apple / Spotify) For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.Fact-checking by Tyler Jones. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

Reporter Alexi Horowitz-Ghazi's Aunt Vovi signed up for 23andMe back in 2017, hoping to learn more about the genetic makeup of her ancestors. Vovi was one of over 15 million 23andMe customers who sent their saliva off to be analyzed by the company. But last month, 23andMe filed for bankruptcy, and it announced it would be selling off that massive genetic database. Today on the show, what might happen to Vovi's genetic data as 23andMe works its way through the bankruptcy process, how the bankruptcy system has treated consumer data privacy in the past, and what this case reveals about the data that all of us willingly hand over to companies every single day.This episode was produced by Sylvie Douglis and edited by Jess Jiang. It was engineered by Harry Paul and Neal Rauch and fact-checked by Tyler Jones. Alex Goldmark is our executive producer. Find more Planet Money: Facebook / Instagram / TikTok / Our weekly Newsletter.Listen free at these links: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Music: NPR Source Audio - "Lazybones," "Twirp," and "On Your Marks"

It's ... Indicators of the Week! Our weekly look at the some of the most fascinating economic numbers from the news. On today's episode, we investigate falling foreign travel to the U.S., why student loan default collections are back, and why maaaaaaaybe being so friendly with our AI chatbot pals has a cost. Related episodes: Economists take on student loan forgiveness Is AI overrated? (Apple / Spotify) Is AI underrated? (Apple / Spotify) For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

President Trump has not been afraid to tack on tariffs over and over again. Allies and foes alike are anxiously wondering if the tariffs will stick or whether a trade deal will be made. On today's episode, we take a look behind the curtains of the White House administration and examine the advisors whispering into Trump's ear.Related episodes:Dealmaker Don v. Tariff Man Trump (Apple / Spotify)China's trade war perspective (Apple / Spotify)What keeps a Fed president up at night (Apple / Spotify)For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.Fact-checking by Tyler Jones. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

President Donald Trump has been loudly critical of Federal Reserve Chair Jerome Powell for years now. Since January, the President has accused him of playing politics by keeping interest rates high. Trump has also threatened to oust Powell - which would mark an extraordinary shift away from the independence of the central bank.Today on the show, three Indicators: a short history of the Federal Reserve and why it's insulated from day-to-day politics; how the Fed amassed a ton of power in recent years; and a Trump executive order that took some of that power away.The original episodes from the Indicator were produced by Corey Bridges, Brittany Cronin, and Julia Ritchey. They were engineered by Cena Loffredo, James Willetts, and Gilly Moon, and fact-checked by Sierra Juarez. Kate Concannon is the editor of the Indicator. Follow us wherever you get your podcasts.This episode of Planet Money was produced by James Sneed and edited by Marianne McCune & Mary Childs. Alex Goldmark is our executive producer.For more of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Or, find us: TikTok, Instagram, Facebook.Listen free at these links: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.

Donald Trump grew up learning to make deals. He's also loved tariffs since the 1970s. So are his market-shaking tariffs a bargaining chip? Or are they here permanently? We go all the way back to Trump's childhood to try to figure out if Dealmaker Don or Tariff Man Trump is in charge. Marc Fisher's book with Michael Kranish is Trump, Revealed. Related episodes: What's so bad about a trade deficit? (Apple / Spotify) Why there's no referee for the trade war (Apple / Spotify) Tariffied! We check in on businesses (Apple / Spotify) For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.Fact-checking by Tyler Jones. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

By now, you've heard a lot about how the U.S.-China trade war is affecting American consumers, businesses and the stock market. But how is the trade war being felt in China? Today on the show, two of NPR's in-house China experts, Emily Feng and John Ruwitch, explain the view from China. Related episodes: What might save China's economy (Apple / Spotify) Tarrified! We check in on businesses (Apple / Spotify) For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

It's time for The Indicator Quiz! We test you, dear listener, on your knowledge of topics that we've covered on The Indicator.Today's quiz show involves a DJ from Vancouver, Washington that tests his economic education on the World Trade Organization, the Panama Canal, and of course, Bad Bunny. Play along with us and see how you do!Are you interested in being a contestant on our next Indicator Quiz? Email us your name and phone number at indicator@npr.org and put "Indicator Quiz" in the subject line.Related episodes:WWE, a very expensive banana, and a quiz contestant (Apple / Spotify)For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.

Recently, one of our NPR colleagues wrote a message to all of NPR saying he had extra eggs to sell for cheap, but needed a fair way to distribute them during a shortage. What is Planet Money here for if not to get OVERLY involved in this kind of situation?Our colleague didn't want to charge more than $5, so we couldn't just auction the eggs off. A lottery? Too boring, he said. Okay! A very Planet Money puzzle to solve.Today on the show, we go in search of novel systems to help our colleague decide who gets his scarce resource: cheap, farm-fresh eggs. We steal from the world of new product development to try and secretly test for egg love, and we discover a pricing method used in development economics that may be America's next great gameshow.This episode of Planet Money was produced by Emma Peaslee and it was edited by Marianne McCune. It was fact checked by Sierra Juarez and engineered by Jimmy Keeley. Alex Goldmark is our executive producer.Find more Planet Money: Facebook / Instagram / TikTok / Our weekly Newsletter.Listen free at these links: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Music: NPR Source Audio - "Punchy Punchline," "Game Face," "Feeling the Funk," and "The Host Most Wanted"

The current economic upheaval has lots of us scrambling for our glossaries and history books. Today on the show, the editor-in-chief of Investopedia walks us through three vocab terms - spanning topics from tariff history to market volatility - that are spiking on the website lately. Related listening:Did Trump enable insider trading? (Apple / Spotify)What's a moneyline bet anyway? (Apple / Spotify)Why tariffs are SO back (Apple / Spotify)For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

OIRA - the Office of Information and Regulatory Affairs - is an obscure, but powerful federal office around the corner from the White House. President Trump has decided that it should get even more powerful.For the last 45 years, OIRA has overseen most federal agencies by reviewing proposed regulations to make sure they agree with the President's policies and don't conflict with the work of other agencies. But one set of federal agencies has always been exempt from this review process - independent federal agencies like the SEC, FTC, FCC, and Federal Reserve. Until now.According to a new executive order, those independent agencies are about to get a lot less independent. We take a look at what this change could mean for financial markets...and the future of American democracy.This episode was produced by James Sneed and Willa Rubin. It was edited by Jess Jiang and engineered by Jimmy Keeley. It was fact-checked by Sierra Juarez. Alex Goldmark is our executive producer.Find more Planet Money: Facebook / Instagram / TikTok / Our weekly Newsletter.Listen free at these links: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Music: Universal Music Production - "Tanga," "The Jump Back," and "Kumbatia."

On the morning of April 9, President Trump posted on Truth Social "THIS IS A GREAT TIME TO BUY!!! DJT." Around four hours later, he announced a pause on some new tariffs, causing a stock market spike. Now, Democrats are demanding an investigation into possible insider trading. But were Trump's posts actually insider trading?Related episodes:Morally questionable, economically efficient (Apple / Spotify) An insider trader tells all For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

If you've ever passed through airport customs overseas and been refunded a VAT - or value added tax - for souvenirs, you've benefited from the VAT system. But President Trump says VAT is unfair to the U.S. On today's episode, we learn what VAT is and what it isn't. Related episodes:What's so bad about a trade deficit? (Apple / Spotify)Tarrified! We check in on businesses (Apple / Spotify)Why there's no referee for the trade war (Apple / Spotify)For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

The federal government has been tracking the weather for more than 150 years. But the rise of the Internet and big tech have made weather forecasting a more crowded space. Today on the show, the value of an accurate forecast and how the Trump administration's early moves are clouding the government's future forecasting. This piece originally aired in November 2024. Related stories: Hazard maps: The curse of knowledge (Apple / Spotify) Should we invest more in weather forecasting? After a year of deadly weather, cities look to private forecasters to save lives Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

How do you run a business when a trade war is brewing? As President Trump's tariffs kick in - or are paused or are restarted - businesses around the world are trying to navigate the uncertainty.And, while trade is this big global thing, it is made up of individual farmers and business owners and truckers and manufacturers. Millions of people all over the world are being forced to reevaluate relationships that they've been building for years. Canadians have had a head start - Trump announced his plan to tariff Canadian goods on day one in office. So in today's episode: how one Canadian small business is trying to manage the chaos.This episode was produced by Sylvie Douglis and edited by Sally Helm. It was engineered by Cena Loffredo and fact-checked by Sierra Juarez. Alex Goldmark is our executive producer. Find more Planet Money: Facebook / Instagram / TikTok / Our weekly Newsletter.Listen free at these links: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Music: NPR Source Audio - "Mr. Chill," "Lazy Ranger," and "Guess What"

It's not just tariffs. The White House is rethinking the central role of the dollar in the global economy.

Today on the show, we discuss why the IRS is sharing some taxpayer information, why bonds and stocks both fell, and how robots will replace you,or at least most of your chore wheel, in the near future.Related episodes: Why are stocks and bonds both falling? For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

"There's no bad weather, only bad clothing." That's the motto of the Federal Reserve Bank of Chicago, where Austan Goolsbee is president. As economic weather conditions stay unpredictable, Austan tells us how he's gearing up for tariffs, inflation, and more. Related episodes:The Fed cut rates ... now what? (featuring: Sasquatch) (Apple / Spotify)Tariffied! We check in on businesses (Apple / Spotify)A chat with the president of the San Francisco Fed (Apple / Spotify)Is the economy going stag(flation)?For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

At the heart of President Trump's tariffs is this idea that we should not be buying more from other countries than they are buying from us. Basically, he wants to get rid of the trade deficit. And in the wake of the tariff announcement we got a LOT of questions from listeners about what that means. Do trade deficits matter? Is it bad to have a trade deficit? Are we getting ripped off? Today on the show - we tackle those questions. This episode of Planet Money was produced by Emma Peaslee and edited by Marianne McCune and Kenny Malone. It was fact checked by Sarah McClure and engineered by Kwesi Lee. Alex Goldmark is our executive producer. Find more Planet Money: Facebook / Instagram / TikTok / Our weekly Newsletter.Listen free at these links: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Music: NPR Source Audio - "The Westerners," "Liquid Courage," and "Blazed and Emboldened"

Today on the show, we meet Canada's new Prime Minister, economist Mark Carney. What's it like when your former job - being a non-political banker who decides a country's interest rate - bleeds into your now-political decisions on everything?Related episodes: A polite message from Canada to the U.S. (Apple / Spotify)

President Trump claims a main goal of his crippling tariffs is to address the U.S. trade deficit. So is the U.S. trade deficit a problem? On today's show, why we'll never have a trade surplus with every single country; what the benefits of a trade deficit are; and whether or not the trade deficit affects jobs. Related episodes:Tariffied! We check in on businesses (Apple / Spotify) Why there's no referee for the trade war (Apple / Spotify) Common economic myths debunked (Apple / Spotify) For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

Trump's wave of tariffs is here. Just about everyone in the world of business is still processing exactly what this means. It's a massive, widespread increase in taxes. Today on the show, we hear from business people we've had on the show who tell us what they're doing in response to the latest, and largest, wave of tariffs. Related episodes: Trump's contradictory trade policies (Apple / Spotify) How's ... everybody doing? (Apple / Spotify) How Shein became a fast-fashion behemoth (Apple / Spotify) For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

Ever wondered why you can buy fresh Peruvian blueberries in the dead of winter? The answer, surprisingly, is tied to cocaine. Today on the show, we look at how the war on drugs led to an American trade policy and a foreign aid initiative that won us blueberries all year round. And for more on trade and tariffs check out Planet Money's homepage. We've got articles looking at how much the new tariffs will raise prices and shows on everything from diamonds to potatoes to why you bought your couch. This episode was produced by Sylvie Douglis with help from Willa Rubin. It was edited by Marianne McCune and engineered by Jimmy Keeley. It was fact-checked by Sierra Juarez. Alex Goldmark is our executive producer.Find more Planet Money: Facebook / Instagram / TikTok / Our weekly newsletter.Listen free at these links: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Music: Source Audio: "Martini Shaker," "You the Man," and "Leisure Girls."

It's Jobs Friday and all eyes are on government workers. Will the Trump administration's layoffs finally show up in the latest jobs report? Today on the show, we look at the numbers for federal workers and who's trying to hire them. Related listening: Can ... we still trust the monthly jobs report (Apple / Spotify) The last time we shrank the federal workforce (Apple / Spotify) A 'Fork in the Road' for federal employees (Apple / Spotify) How local government is propping up the U.S. labor market For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

The administration revealed how they calculated the tariffs. Buried in that math is a straightforward answer to a question Trump has long refused to answer: How much will his tariffs raise prices?

There have now been a few major vinyl booms. And unbeknownst to many, a small village in the Czech Republic has been responsible for manufacturing a large number of these albums. On today's show, how this dominant player became a problem for its competitors in the U.S. Related episodes: Rumor has it Adele broke the vinyl supply chain 'Let's Get It On' ... in court (Update) (Apple / Spotify) For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

What are tariffs good for?For years, mainstream economists have basically said: tariffs are not good. They are an import tax paid by consumers, they've said, and they discourage free trade, and we want more! Because free trade has broadly led to more global economic growth.But global trade hasn't been all positive for Americans, and in the worldview of President Trump's administration, tariffs can be used to right some of those wrongs. And the U.S. has economic leverage. So if the U.S. wants to level the playing field, it should use that leverage, and use tariffs to accomplish its policy goals.Today on the show: the case for tariffs. We talk to a lonely economist who's been sounding the alarm for years that more and free-er trade isn't always better. And we speak to economists in President Trump's orbit who make the case for how tariffs can be a potent economic and political tool.This episode was produced by Willa Rubin and edited by Meg Cramer. It was fact-checked by Sarah McClure and engineered by James Willetts. Alex Goldmark is our executive producer. Find more Planet Money: Facebook / Instagram / TikTok / Our weekly Newsletter.Listen free at these links: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Music: Universal Music Production: "Funky Reverie" and "With It;" Audio Network: "Slush Puppy Soul."

Billions of tech dollars flowing into a community to build data centers should transform a local economy ... right? Well, maybe not. On today's episode: Why data centers create few permanent jobs. And why communities might want them anyway.Related episodes:Why China's DeepSeek AI is such a big deal (Apple / Spotify)Is AI overrated? (Apple / Spotify)For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

A controversial study raised the specter that Girl Scout cookies are unsafe. Authorities say they are safe, but the whole saga highlights a breakdown of trust in American institutions.