Author: Marketplace

From the BBC World Service: China has announced record export numbers and the largest trade surplus in global history: $1.2 trillion. Despite the impact of President Donald Trump's tariffs, China has been able to pivot to other international trading partners, including countries in Africa, Southeast Asia, and Latin America. Then, global bond markets are where governments go to raise money to pay for services, but have they become too powerful?

The pretty Swiss lakeside town of Lugano has set out to become Europe’s bitcoin capital, with the aim of attracting bitcoin companies and the cryptocurrency itself to the city. In Lugano, you can still pay for everything in Swiss francs, but in hundreds of shops and restaurants you can also pay in bitcoin. The city has even started accepting it for municipal services. The BBC’s John Laurenson went to check it out.

The cost of food consumed at home was up 0.7% month-over-month in December, and 2.4% year-over-year. Go back five years, and grocery prices are up 25%. And like so many things in this economy, the rising cost hurts the poorest Americans most. Also in this episode: Americans carry credit card debt longer than they used to, two ultra-low-cost U.S. airlines make plans to merge, and we get an update from Kansas grain farmers.

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.

Seemingly infinite battles over President Donald Trump’s agenda have been playing out in the courts over the past year. But when all’s said and done, are these legal challenges actually working? Politico legal affairs reporter Kyle Cheney joins Kimberly to discuss. Plus, they’ll get into the Supreme Court’s impending decision on Trump’s tariffs and why even some GOP members are breaking rank to speak up about the Justice Department’s investigation into Federal Reserve Chair Jerome Powell.

Here’s everything we talked about today:

• "Jan. 6 — five years later" from Politico 
• "Trump's push to politicize the Fed could cause further market "volatility'" from Marketplace 
• Post by @kyledcheney.bsky.social 
• "‘The courts are helpless’: Inside the Trump administration’s steady erosion of judicial power" from CNN Politics 
• "Trump’s ‘Superstar’ Appellate Judges Have Voted 133 to 12 in His Favor" from The New York Times
• "Supreme Court blocks Trump effort to deploy National Guard troops to Illinois" from Politico 
• "Supreme Court appears skeptical of Trump admin's tariff arguments" from Marketplace 

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

The Bureau of Labor Statistics released the final consumer price index reading for 2025 this morning. Spoiler alert: Inflation is still too high. Prices were up 2.7% from the year before and up 0.3% between November and December. This morning, we'll unpack. Plus, President Donald Trump wants to cap credit card rates at 10%. What consequences would there be for consumers and banks? And: inside a quantum computing site in Santa Barbara.

President Donald Trump said on social media that he is imposing a 25% tariff on goods from countries “doing business” with Iran in response to Iran's government imprisoning and killing protesters. The countries that buy Iranian oil include India, Turkey, and China. We'll also share predictions for December's consumer price index. Plus, could the biggest economic risk to the U.S. in the year ahead be the U.S. itself?

From the BBC World Service: There's mounting pressure on Grok — the AI chatbot that's part of Elon Musk's social media platform, X — over the generation of explicit images. The U.K. is rushing through a new law making it illegal to create nonconsensual intimate images; meanwhile, Indonesia and Malaysia have already blocked access to Grok. Then, the race is heating up to build the most powerful quantum computers. We visit one of the biggest players, Google's quantum lab in California

Much like graphics processing units, high bandwidth memory is essential for training and running AI. It's paired with all those NVIDIA chips that have been selling like hotcakes and only a small handful companies in the world make it. Now the surge in demand from data centers has created a global shortage for everything else — the PCs and smartphones and other consumer electronics that also use memory chips. Marketplace’s Meghan McCarty Carino spoke with Tom Mainelli, vice president of device and consumer research at IDC, about how long this shortage could last.

The Department of Justice has opened an investigation into the Federal Reserve and Chair Jerome Powell, a move Powell has since called "an unprecedented action [that] should be seen in the broader context of the [Trump] administration's threats and ongoing pressure" to lower interest rates. We take a closer look at what’s happening from inside the Fed, and look at the implications for the economy as a whole. 

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.

President Trump’s growing frustration with the Federal Reserve’s commitment to political independence reached fever pitch over the weekend when Fed Chair Jerome Powell annouced the DOJ has opened a criminal investigation into the Fed. Powell called the probe “unprecedented” and said the Fed uses data, not politics, to make interest rate decisions. In this episode, we get context on the situation from economist Julia Coronado — including how the investigation could have an impact on financial markets.