The drip-drip-drip of news about Russia and the 2016 election continues today. A week or so ago, Facebook said it sold about $100,000 worth of ads to a so-called Russian "troll farm." Today, the company announced it would show the ads to the government. Meanwhile, the company is working to improve its advertising process after ProPublica revealed users could target ads with anti-Semitic keywords. We'll start today's show by explaining all the fires Facebook is fighting. Then: all of Puerto Rico is still without power today, and it could take months to restore service. The utility was already $9 billion in debt. Plus: Google's latest hardware play.
Federal Reserve Chair Janet Yellen gave an update on the economy today, and we'll start the show with the highlights and translated Fed-speak. Then: the latest — and likely last, but who knows anymore — Senate attempt at repealing Obamacare is the Cassidy-Graham bill. It takes the money the federal government spends on Obamacare, and gives it directly to the states to do what they want with it. It's called a block grant, and it sounds simple enough, but it's not. We'll look at how they've worked in the past. Plus: Checking in with a family of Syrian refugees, one year later.
The Federal Reserve has been backstopping the American economy for almost a decade with its $4 trillion pile of bonds and mortgage-backed securities it bought up during and after the financial crisis. The idea was to keep borrowing costs low and goose the whole economy. It's widely expected that the Fed's going to start unwinding its balance sheet tomorrow, letting the economy work a little more normally. So what's going to happen? Then: FEMA says fewer than 20 percent of the homes affected by Harvey carried flood insurance, and that makes recovery all the more difficult. Plus: A new study from Yale University says Americans, mostly white Americans, are just plain out of touch with how economically unequal this country is.
Washington is getting all hot and bothered about healthcare again, but we're gonna keep our eye on the ball and start our show with the Fed, which is meeting this week. There's going to be tea leaf reading, and some dot plot reading too. Then: We've been reporting a lot lately on hate groups, and where they find homes online. Since Charlottesville, there's been more awareness of these groups, and they've been expelled from a lot of services, but that hasn't stopped other businesses from filling in the gap. Plus: In LA's gentrifying Boyle Heights neighborhood, mariachis struggle to pay rent near a plaza named for them.
Say you're a company that has data on zillions of Americans, like a hospital, or a bank, or, you know, Equifax. Consumers have very little control over those companies, besides trusting them to keep their data safe. How hard can that be? We'll look into it. Facebook is already in some hot water for selling ads to a Russian "troll farm." Now a ProPublica investigation found the site's ad-targeting tools can be used to reach racists and anti-Semites. Plus, we'll look back at all the week's business and economic news. Never a dull moment. Someone should put that on a hat or something.
On Air Force One today, somewhere between D.C. and Naples, Florida, President Trump took credit for the country's economic strength and gave an update on his tax plan. We'll check a few of his claims, in particular that the plan is "revenue neutral" with faster economic growth. Then we'll head back to Florida, which is picking up the pieces after being battered by Hurricane Irma this week. But it's been especially tough for Floridians to get their claims processed — because all the insurance adjusters are still in Houston. Then: you might know Manolo Blahnik the shoes, but Blahnik is also a man, and he's the subject of a new film. We'll talk with the director.