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.
After days of build-up, President Trump finally made it official: The U.S. is pulling out of the Paris climate agreement. "I was elected to represent the citizens of Pittsburgh, not Paris," Trump said. That's true! But not for nothing, moving away from coal and steel has made that city's economy strong again. Plus, with the U.S. taking a seat on the sidelines of the fight to control global warming, it's also sitting out big investment opportunities that China and the E.U. are promising to grab. Then: There's something of a tug-of-war going on within the Trump administration over the debt ceiling. We'll tell you what you need to know. Plus, the latest installment of our series "My Economy" visits a stay-at-home mom in Texas.
We're still waiting on the official word out of the White House on whether President Trump will pull the U.S. out of the Paris Agreement on climate change. It's looking likely, but some of the news around Trump's decision today indicate businesses are still planning on climate change no matter what. Then: Goldman Sachs is taking heat for nearly $3 billion worth of Venezuelan bonds it bought from a state-owned oil company via a broker. It stands to profit handsomely, but protesters are ripping the bank for making money from a country that's facing food shortages. We'll explain everything you need to know about the so-called "hunger bonds." Plus: A look at how one airport is enlisting drones to get things moving more efficiently.
Donald Trump is back in the country, and his Twitter account is making up for lost time. The President ripped the "MASSIVE" and "very bad" trade gap between the U.S. and Germany. But reality check: it's not nearly as scary as it sounds. Then according to data released this morning, consumer spending rose last month. Home prices are up too, and the average American FICO score hit 700 last month, the highest it's been in over a decade. So how'd we get here, and what's it mean for the economy? Plus, a visit to the schools of Erie, Pennsylvania for our series "The Big Promise."
You might be spending the long weekend relaxing with family, paying respect to fallen servicemembers, or getting outside. But if you're enjoying a national park this weekend, maybe think twice about pulling out your smartphone. 2016 was the third record-breaking year in a row for the National Park Service, but all that extra traffic from selfie-snapping tourists can harm the places they visit. Plus: What's at stake of the U.S. pulls out of the Paris climate agreement. Then: California's drought has all but ended, but some wells are still dry, forcing some of the state's poorest people to pay a premium on water.
The European leg of President Trump's trip abroad got off to a rocky start yesterday when, in a meeting with G7 officials, the president was reportedly critical of Germany's trade practices. The main gripe, it seems, was about the number of German cars sold here, but that's just one slice of a pretty huge trade relationship. We'll talk about it, plus the drama back home at the Department of Education, which is considering handing some of its student loan business to the Treasury. Plus: A look at Kushner Companies, the family real estate business where Jared Kushner worked before taking a role in the White House.
We've talked a lot about the economic anxiety normal Americans face every day, but today we're casting and eye toward economic anxiety in and about Washington. First, the White House's budget. There are some assumptions that don't quite add up, but today Treasury Secretary Steven Mnuchin reiterated his confidence that tax cuts, deregulation and trade policy will ratchet up economic growth. But what if it doesn't? Then: Mnuchin and White House budget director Mick Mulvaney both testified on Capitol Hill this week to sound the alarm about the deb limit. They're worried Congress might have to raise it sooner than expected. We'll explain what's going on. Plus: a California prison town's big bet on pot to save its economy.