Author: Marketplace

The newest member of the Federal Reserve Board of Governors — close ally of President Donald Trump, Stephen Miran — made his case for more (and larger) interest rate cuts in a speech yesterday at the Economic Club of New York. He argued that the president's policies will push prices down, so the Fed doesn’t have to worry that lowering interest rates will spark inflation. Plus, entrepreneurship could suffer following the Trump administration's new $100,000 fee for H-1B visas.

From the BBC World Service: Hong Kong International Airport is halting flights on Tuesday as the Asian financial hub braces for one of the strongest super typhoons it's seen in years. Then, would you move back to your hometown for a 25% tax cut? Cyprus is hoping this proposal will tempt some of its diaspora to return. And later, Singaporean shipping company X-Press Feeders refused to pay damages for causing the worst environmental disaster in Sri Lankan history.

Today, we’re talking about bubbles. Not the kind you play with. The kind that happen in the economy! Bridget and Ryan take a trip down memory lane to answer Jocelin’s question about what caused the 2008 housing bubble. With help from Bridget’s unforgettable treehouse bubble tale, we’ll learn what can happen when prices rise too high, too fast and the bubble finally pops! Plus, why it’s so tricky to spot a bubble before it bursts.

If your family is interested in learning even more about today’s question, check out our website. We’ve got conversation starters and a tip sheet!

This episode is sponsored by Greenlight. Sign up for Greenlight today at greenlight.com/million.

There’s a race going on among tech firms — big and small — to join in the construction of what President Trump has dubbed the Golden Dome, a missile defense system similar to Israel’s Iron Dome. Tens of billions of dollars in military contracts are at stake. In fact, the total cost might be in the trillions and the project could stretch a decade.

The technology and scale needed to make this all happen is, so far, largely unproven. And a whole host of tech firms are trying to show that they can help with the very complex undertaking. Marketplace’s Nova Safo spoke with Sheera Frenkel, reporter at the New York Times, about some of the tech that would make this whole system work.

Economic data reports tell us two things are true: Inflation seems here to stay, and consumers haven’t let up on spending. It’s the perfect storm for businesses to wield the power to raise prices without losing customers. What could tip the scale in the other direction? Also in this episode: GOP-led changes to the H-1B visa program could hurt U.S. businesses long-term, home sellers are cautious as supply dwindles, and the new farm bill faces familiar obstacles.

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The Trump administration is working to tamp down alarm over a new, $100,000 visa fee it announced on Friday. Technology, finance, and other major companies that depend on employees holding H-1B visas had initially thought the fee would be applied to existing visa holders, and those with H-1B workers who were temporarily abroad panicked. The fee only applies to new visa applicants, though, the White House later clarified. Also: an AI industry political action network and dark clouds for Broadway productions.

Stocks are on a winning streak. The Dow, S&P 500, and Nasdaq indexes all closed at record highs on Friday. Now, everything that goes up can go down, but there are some reasons to think the bulls may stick around for a while. We'll hear more. And later, Health Secretary Robert F. Kennedy Jr. is pushing for stricter regulations on drug advertising. What could change?

From the BBC World Service: In his first broadcast interview since taking office, South Korean President Lee Jae Myung talked about the potential impact of the expulsion of Korean workers from a U.S. battery plant. Also on today's show: more disruption is expected at airports in Europe following a cyberattack; we do the numbers on costs associated with Europe's spate of wildfires this summer; and London's Oxford Street, one of the world's busiest shopping areas, went car-free for a day.

Here’s cautionary tale for you, out of China, about a young woman who says she fell in love with an artificial intelligence chatbot. There have been well-publicized instances of people seeking companionship from chatbots and it leading to tragedy. In this instance, it caused heartbreak. The story involves the Chinese AI firm Deepseek which, earlier this year, launched a chatbot that's almost as good as its American rivals. Soon after the launch, a young woman began a conversation with that chatbot. Marketplace’s China correspondent Jennifer Pak takes the story from there.

On today’s show, Kimberly is joined by Marlon Hyde, business and economics reporter for WABE in Atlanta, to unpack the fallout of the massive ICE raid at a Hyundai facility in Georgia in which hundreds of South Korean nationals were arrested. And, we’ll get into what Atlanta small business owners are worried about these days. (Spoiler: it’s tariffs.) Plus, we’ll play a round of Half Full/Half Empty!

Here’s everything we talked about today:

• "Immigration raid at Georgia Hyundai factory tests state’s longstanding relationship with South Korea" from WABE
• "Hyundai says it will spend $2.7 billion expanding part of the Georgia complex raided by ICE" from AP News
• "Atlanta develops human rights action plan for 2026 FIFA World Cup" from WABE
• "After another subpar summer of going to the movies, what's next?" from Marketplace
• "Finally, the era of free in-flight WiFi is near" from The Washington Post
• "Costco's New Shopping Hours Are a Sign of Tierification of US Economy" from Business Insider 

• "People are boycotting Disney, Hulu, and ESPN after ABC yanked Jimmy Kimmel off the air. Will it work?" from Fast Company

  
  

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