Author: Marketplace

New context for the strong-consumer-spending-and-falling-consumer-sentiment combo: According to a Boston Fed report, the proportion of spending done by top-earning U.S. households is growing, and the share spent by lower-income Americans is shrinking. What might that widening gap tells us about the trajectory of this economy? Plus: Strong Q2 corporate earnings are an economic bright spot, U.S. energy exports may not break records again this year, and we investigate who profits from the tripled ICE budget.

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Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

Republicans in Congress are attempting to claw back federal funding to replace the U.S. Postal Service’s outdated mail trucks with a mostly electric fleet. We’ll break down the fight. And, parents across the country are facing a slew of economic headwinds. How does a couple with 5 kids and a modest income make it work? Plus, a mysterious comet and a rebrand at MSNBC.

Here’s everything we talked about today:

• "Republicans look to make a U-turn on federal commitment to electric vehicles for the Postal Service" from AP News
• "Senate Republicans cannot force US Postal Service to scrap EVs, parliamentarian says" from Reuters 
• "What It’s Really Like to Support a Big Family on a Modest Income in America" from The Wall Street Journal 
• "MSNBC to change name to MS NOW amid spinoff from NBCUniversal" from NBC News

• "A mysterious comet is shooting through our solar system. Why are scientists so excited about 3I/Atlas?" from The Guardian 

  
  

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It’s a big week for Fed watchers. Federal Reserve Chair Jerome Powell is scheduled to speak at a research conference on Friday in Jackson Hole, Wyoming. It comes at a tricky time for the Fed — pressures are weighing on both price stability and maximum employment, and there's ire coming from President Donald Trump. We'll discuss what to expect. Plus, global demand for cassava is growing. Can Nigeria capitalize on the moment and become an export giant?

Consumer spending was up pretty significantly for more expensive items last month — things like cars and furniture. All that big-ticket buying comes despite a softening labor market and broader economic uncertainty. We'll parse the data a bit more. Also on the program: we'll hear what we can expect from homebuilder confidence and learn how the startup world is grappling with tariffs and the cancellation of government grants and contracts.

From the BBC World Service: A court in Australia has handed the airline Qantas a record fine — just under $59 million USD — for illegally laying off 1,800 ground staff during the COVID-19 pandemic. And later, could plans for sweeping tax cuts on consumer goods boost India’s economy in the face of U.S. tariffs? Plus, the root vegetable cassava is one of the world's most versatile crops. We'll hear more about Nigeria's cassava market.

Esports is a multi-billion dollar industry, with players making millions by getting good at video games. But while traditional athletes, usually, retire into coaching, managing or being a pundit, what does an esports player do when they’ve hung up their controller? The BBC’s Will Chalk files this report from the U.K.

Recent data show moderate retail sales growth in July — a positive sign for our economy? On the flip side, consumer sentiment fell in an early-August survey. In this episode, why gloomy shoppers are still gonna shop. Plus: How NEA grant cuts are affecting nonprofit arts organizations, why a wealth tax might be unconstitutional, and when did Putin visit a New York City gas station?

Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.

Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

Immigration and Customs Enforcement has plans to nearly double the number of its immigration detention centers by the end of the year. The agency has an enormous budget to carry out its agenda, but can it find enough workers to do the job? We’ll get into it. And, we’ll play a round of Half Full/Half Empty!

Here’s everything we talked about today:

• "ICE documents reveal plan to double immigrant detention space this year" from The Washington Post
• "ICE Has Tons of Cash, But Is Struggling to Hire Enough Agents" from Time
• "Secretary Noem Unveils No Age Limit for Patriotic Americans to Join ICE Law Enforcement to Help Remove Worst of the Worst from U.S." from the Department of Homeland Security 
• "Spike in Corruption Followed Last Hiring Surge at CBP and ICE" from American Immigration Council
• "Adjustable-rate mortgages make a comeback" from Marketplace
• "The White House makes a play for Intel" from Marketplace
• "Work weeks are getting more intense for AI startups" from Marketplace
• "LA 2028 Olympics to sell venue naming rights" from Axios

We love hearing from you. Leave us a voicemail at 508-U-B-SMART or email makemesmart@marketplace.org.

President Trump reportedly has floated a plan that would have the U.S. government take partial control of Intel, the ailing chipmaking giant. We look at how a potential deal might shake out and what obstacles it could face. Then, on the other side of the Pacific, workers at Chinese AI companies are working long hours in the heated global AI race. And finally, the BBC’s Jane Chambers reports on the economic malaise in Bolivia that’s shaping this weekend’s elections.

Target and Ulta have announced an end to their partnership, effectively closing hundreds of Target-based Ulta locations opened since 2021. We look at how differing business models and clientele led to the breakup. Then, a report on the latest developments from the Trump-Putin summit in Alaska. And finally, we delve into a new report that explores why many hospital patients suffering from mental illness are discharged into nursing homes.