Category: 4-FrequentNewsStreams

Lollapalooza is in full swing as thousands of fans descend on Grant Park, snarling traffic. We’ll give you a 101 of what you need to know, highlights of the four-day music festival, and how not to get on the nerves of fellow concert-goers. And if you’re looking for counter-programming, we’ll find out more of what Chicago has to offer in the coming weeks. Arts and culture experts Sofie Hernandez-Simeonidis (WBEZ) and Ambar Colón (Chicago Sun-Times) break it all down. For a full archive of Reset interviews, head over to wbez.org/reset.

The Federal Reserve left its benchmark interest rate unchanged after meeting yesterday, despite repeated pressures from President Trump to cut rates. But not everyone at the Fed was happy about it. On the show today, Marketplace’s Nancy Marshall-Genzer joins Kimberly to fill us in on the recent debate over lowering interest rates and the political tension surrounding the Fed. Plus, thriving raspberry bushes make us smile.

Here’s everything we talked about today:

• "The Federal Reserve leaves interest rates unchanged" from Marketplace 
• "Fed's Powell sticks with patient approach to rate cuts, brushing off Trump's demands" from AP News
• "Could Trump use Fed HQ renovations as a pretext to fire Powell?" from Marketplace 

• "What’s Holding Trump Back From Firing Powell" from The Atlantic

  
  

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Meta and Microsoft shares jumped Thursday morning following strong quarterly earnings, with both companies attributing the gains to AI-driven productivity and revenue growth. Susan Schmidt at Exchange Capital Resources weights in. Also on the show: inflation picked up in June, challenging hopes of a cooldown. Diane Swonk at KPMG explains the implications. And later, Marketplace's Jennifer Pak looks at what Chinese consumers are (and aren't) spending on this summer.

The guardians of interest rates at America's central bank chose not to cut interest rates, given the uncertain effects of tariffs and a resilient overall economy. But the committee's decision was not unanimous. Also on the show: the July Jobs report. The U.S. labor force shrank by 755,000 in May and June, and that's partly what accounts for June's drop in unemployment. We look into why this trend will likely to be a persistent feature of the U.S. labor market later this year and into 2026.

After over 800 student visas were suddenly revoked this spring, immigrants studying or hoping to study in the U.S. fear sudden and unanticipated visa termination. Illinois has over 60,000 international students who bring in revenue to the state and its universities. With a constant fear of visa termination, and changes to the applicant vetting process, Reset digs deeper into what it all means for international students in Illinois. Our panel: Jay, a student visa holder; immigration lawyer Scott Pollock; WBEZ higher education reporter Lisa Kurian Philip; and University of Chicago Professor Clifford Ando. For a full archive of Reset interviews, head over to wbez.org/reset.

From the BBC World Service: Goods from South Korea will face a 15% tariff under a new trade deal. Meanwhile Brazil will be harder hit, with a 50% tax on imports. Plus, we hear how Chinese electric vehicle makers are targeting foreign consumers with affordable luxury.

Simon Johnson, Nobel-winning economist, joined Marketplace’s Meghan McCarty Carino to explain his current thinking about AI and inequality. He says the tech could bring productivity gains, but they might not benefit everyone.

A major earthquake off the coast of Russia set off widespread tsunami alerts and evacuations all across the Pacific. It was the strongest quake on the planet since 2011, and the sixth largest ever recorded. Moderate tsunami waves reached the shores of Hawaii and the West Coast. Most of the damage has been minor and without serious injuries. Stephanie Sy reports. PBS News is supported by - https://www.pbs.org/newshour/about/funders

In our news wrap Wednesday, Gaza health authorities say Israeli strikes and gunfire killed at least 46, New York police say the Park Avenue gunman bought the rifle used in the attack from his supervisor at a Las Vegas casino, former Vice President Harris announced she is not running for California governor and Texas Republicans proposed a congressional map that would help the GOP win more seats. PBS News is supported by - https://www.pbs.org/newshour/about/funders

U.S. GDP grew at a healthy clip in the second quarter of 2025. But a mathematical equation can’t convey nuance — like, say, six months of tariff chaos. Clear away the trade drama, and the country’s economic growth was more subdued. Also in this episode: The Fed keeps rates as-is despite historic “no” votes from committee members, crypto firms campaign for stablecoin to be the new credit card, and the private sector added about 70,000 service sector jobs in July.

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