Author: Marketplace

Officially, the Federal Reserve is being investigated by the Justice Department over office building renovations. But in a video statement Sunday, Fed Chair Jerome Powell said the investigation, which includes a threat of criminal charges, is “a consequence” of the Fed maintaining its independence from President Trump. Plus, later in the episode, how the Warner Bros. deal could affect moviegoers — at home and in theaters.

From the BBC World Service: Recent college graduates say they’re struggling to find entry-level positions. How much of the job market squeeze can be blamed on AI? Plus: Malaysia and Indonesia block access to Elon Musk's AI chatbot Grok, Meta urges Australia to rethink its youth social media ban, and foreign ministers from Denmark and Greenland will meet with U.S. leaders.

On Jan. 7, 2025, the Eaton and Palisades Fires began, killing 31 people and destroying around 13,00 homes in the Los Angeles area. A year later, residents are looking to rebuild the lives and homes they once had.

Marketplace’s David Branccacio and his wife lost their Altadena home to the Eaton fire, and have yet to break ground on a new building. But as they continue to plan for construction in the new year, they are focusing on fire-resistance for the future.

Branccacio joined “Marketplace Tech” host Meghan McCarty Carino to speak about the technology and building that goes into fire-resistant homes.

The rate of jobless Americans who’ve been out of work for over 27 weeks — also known as “long-term unemployed” — hit 26% in December, according to the latest jobs report. That’s the highest it’s been since February 2022. In this episode, why the rate is rising and what it says about the broader economy. Plus: Businesses curb 2026 growth plans, a farmer discusses AI in agriculture, and we check in with an Asheville, North Carolina, tea company over a year since Hurricane Helene.

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.

On today’s show, WNYC reporter Brigid Bergin joins Kimberly to talk about New York City’s brand new Mayor Zohran Mamdani, whose campaign on affordability caught nationwide attention. We’ll get into how Mamdani is tackling affordability during his first days in office, how the business community is reacting, and how his administration is navigating an unpredictable White House. Plus, the case for daydreaming more in 2026.

Here’s everything we talked about today:

• "Gov. Hochul, Mayor Mamdani announce push for free child care for NYC 2-year-olds" from Gothamist 
• "NYC to provide expansion of free child care in "high-need" areas" from Marketplace
• "MAMDANI’S FIRST 100 DAYS: Mayor signs executive orders targeting junk fees and subscription traps" from amNY
• "The Mamdani vs. big business era begins as mayor pledges 'economic justice'" from Gothamist
• "Politics Trump administration freezes $10 billion in child, family aid to 5 states over fraud concerns" from CNBC  
• "The new go-to for Napa Valley wine lovers? Costco" from Marketplace 
• "Google adds proofreading, AI summaries to Gmail with new update" from Marketplace 
• "Why you should put down your phone and daydream instead" from The Washington Post
• "At grocery stores, shopping with a side of biometric surveillance" from Marketplace

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

According to the just-released December jobs report, only 50,000 people were hired last month, fewer than expected. Overall, the month capped off the slowest year for job creation since 2020 and the second slowest since 2009. Plus, LA fire survivors share personal items lost and found in the aftermath of the blaze.

Altadena residents eager to build more fire-resistant new homes run up against obstacles of expense, labor, availability of materials, and of course, the question of whether insurance will pay for it.

From the BBC World Service: The Iranian government has shut down internet access in response to ongoing protests, with demonstrators calling for the removal of the country’s Supreme Leader. Also, a major recall of Nestle baby formula expands to more countries, and after a volatile 2025, what’s on the horizon for cryptocurrency in the new year?

X, formerly Twitter, is facing a global backlash because users are directing the platform's AI chatbot, Grok, to generate non-consensual intimate imagery. Users have been popping up in the replies of women — and sometimes minors — tagging Grok and asking it to generate images of them in bikinis or undressed.

The company and its owner, Elon Musk, have both clarified illegal content will not be tolerated on the platform.

Plus, President Donald Trump signed an executive order late last year aimed at blocking states from enforcing local AI regulations — something a majority have adopted in some form.

And, Meta is a victim of its own success. Its new Ray-Ban smart glasses are selling too fast to keep up with demand.

Marketplace’s Meghan McCarty Carino spoke with Maria Curi, tech policy reporter at Axios, to discuss all these topics on this week’s Marketplace Tech Bytes: Week in Review.

Labor economists will tell ya, productivity growth leads to more hiring. The idea is, once a company is operating more efficiently, they’ll try expanding, which usually comes with new jobs. But in this frustrating and bizarre economy, data show major productivity gains and a stagnant labor market … coexisting? Also in this episode: New York City expands a free child care program, one reporter tries to do the job(s) of the federal government, and economists expect a less-grim December jobs report.

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.