Every weekday on Marketplace, Kai Ryssdal hosts a lively and unexpected exploration of the day’s business and economic news from Wall Street to your wallet.
President Trump's budget director Mick Mulvaney took to the Wall Street Journal's op-ed page today to make the case for "MAGAnomics." There's a lot to unpack. We'll take it line by line, starting with the White House's promise of 3 percent growth. Then: It's performance review season, at least it is at Marketplace. But some companies are finding that a steady stream of feedback is more effective. Plus: Silicon Valley is just 25 percent women, and a new study found many women who leave tech jobs were sexually harassed and passed over for promotions.
The Humphrey Hawkins Act of 1978 codified two fundamental parts of the Federal Reserve. First, the duel mandate of full employment and steady inflation. Second, that twice a year the Fed chair would schlep up to Capitol Hill and tell Congress what's goin' on with the economy. Today was possibly the last Humphrey Hawkins day for Chair Janet Yellen, so we'll go over a few highlights of her testimony. Then: The refugee crisis is still very real in Greece, where the government is struggling to keep up. Now, help is coming from an unlikely source. Plus, when does corporate-funded research cross the line? Google might be skirting it, according to an investigation from The Wall Street Journal.
We told you yesterday about Congress' long to-do list, and today Senate Majority Leader Mitch McConnell delayed the August recess to address it. But over on the other end of Pennsylvania Avenue, there's a lot going on. (No, not that) President Trump send Congress his first nominee for the Federal Reserve, and got his nominee for the Office of Information and Regulatory Affairs approved. We'll talk about both. Then: Snap shares are trading below their initial public offering price back in March amid advertising worries. We'll look at a possible case of buyer's remorse. Plus: the business of building big stadiums.
Congress is back from its July Fourth break, and there's a lot to do in a short few weeks before the next recess. Healthcare is at the top of a long agenda, but if it doesn’t pass, the delay will push on to other legislation coming down the pike. We'll break it all down. Then: President Trump and European leaders had pretty different assessments of this weekend's G-20 Summit, so with that in mind let's do an economic cost-benefit analysis of "America First." Plus, a story of good intentions gone wrong in a couple of the busiest ports in the country.
We always enjoy Jobs Friday, and this was an especially good one: About 222,000 people got jobs across all kinds of industries last month, and unemployment ticked up a hair because more people are out looking for work. The one black mark on this month's report was wages. Average hourly earnings were barely up in June, and it's the latest in a line of tepid monthly increases. That just isn't the way things are supposed to be working right now. We'll talk about why and break down the rest of the jobs report in the Weekly Wrap. With President Trump at the G-20 this weekend, trade's on the table too. Plus: the business of summer camp.
The G-20 summit in Hamburg, and the street protests happening alongside it, are the big global political story. But it's really an economic story, about the winners and losers in global trade. With that in mind, we're starting with the Commerce Department today and the news that the trade deficit fell last month. It's President Trump's favorite, if misguided, economic metrics, but this drop was more about the dollar than anything else. Then: Hobby Lobby is paying a $3 million fine and handing over a bunch of smuggled antiquities today as part of a bizarre story that broke yesterday. We'll get you caught up on everything. Plus: A merging of two home shopping giants that could create a giant in retail, period.