With President Donald Trump's tariffs in effect, we're now at the highest average level of import taxes since the 1930s — all in the name of boosting American jobs, raising money to pay for government spending, and exercising U.S. influence. But rates could still change as the U.S. finishes trade agreement negotiations and sorts out frameworks for existing deals. Also on the show: We'll parse new data on monetary losses from online scams.
Cato Podcast - Offers You’d Better Not Refuse
Last week, President Trump ramped up pressure on two favorite targets: elite universities and Fed Chair Jerome Powell. In the “War on Woke U,” the administration landed a $50 million settlement from Brown—the third Ivy to cut a deal—and added Duke and UCLA to the hit list with new civil rights probes and a funding cutoff. Meanwhile, after the Fed held rates steady, Trump escalated his campaign to oust Powell, denouncing him as a “stubborn MORON” on Truth Social.
In this episode, Cato scholars break down the Art of the Forcible Deal. What risks do Trump’s pressure tactics pose for monetary stability? Will they reform broken institutions—or just deepen their politicization? And is Trump’s strongarm approach an aberration, or a preview of the modern presidency’s future?
Featuring Gene Healy, Ryan Bourne, Emily Ekins, and Jeffrey Miron
Show Notes:
- David Beckworth, “The Consolidated Government Budget Constraint Does Not Care About Your Fed Independence Feelings,” Substack (July 25, 2025)
- Ryan Bourne, “A Case for Federal Deficit Reduction,” Cato Policy Analysis no. 973 (April 18, 2024)
- Michael Chapman, “A Win for Liberty: Congress Defunds CPB, NPR, and PBS,” Cato@Liberty (July 23, 2025)
- Jeffrey A. Miron and Jacob P. Winter, “Giving Up Federal Funds Would Do Harvard Good,” Harvard Crimson (April 30, 2025)
- Norbert Michel and Jai Kedia, “A Check-In on the Fed: Why Politically Motivated Monetary Policy Is Dangerous and Counterproductive,” Cato Video (July 22, 2025)
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CBS News Roundup - 08/07/2025 | World News Roundup
New tariff rates kick in today for most shipments into the United States. Trump-Putin summit set on Ukraine. United Airlines ground stop. CBS News Correspondent Steve Kathan has today's World News Roundup.
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Marketplace All-in-One - The world responds to Trump’s tariffs
From the BBC World Service: President Donald Trump's tariffs are now in effect, ranging from 10% to as high as 50%. We'll hear from reporters and analysts on the ground in Singapore, Delhi, and Zambia to check the mood among business owners. Plus, how far do you travel to pick up your groceries? For people living in the rural Australian settlement of Burringurrah, going shopping used to mean a 500-mile round trip, but that's changed after a new shop opened.
Reset with Sasha-Ann Simons - Anti-immigration Hits Home Healthcare
Recent anti-immigration policies have left many home healthcare workers on edge. As a result, many individuals who require long-term care and rely on this labor to assist with daily living tasks related to health and hygiene have had to go without this much-needed service. Reset checks in with Michelle Garcia, a woman living with disability who has had to scramble to find care for her and her husband and Chicago Sun-Times healthcare reporter Elvia Malagon.
For a full archive of Reset interviews, head over to wbez.org/reset.
Audio Mises Wire - The European Miracle: How Contractual Politics and Divided Power Gave Birth to Western Prosperity
How did Europe move from a collection of impoverished city states and kingdoms to a prosperous state of affairs? Europeans learned the value of contracts, private property, and the limited power of the state, and in turn, they flourished.
Original article: https://mises.org/mises-wire/european-miracle-how-contractual-politics-and-divided-power-gave-birth-western-prosperity
Up First from NPR - Fort Stewart Shooting, Tariff Deadline, Trump And Putin Meeting Prospects
Five soldiers were shot and injured by one of their co-workers at Fort Stewart Army base in Georgia, higher import tariffs taking effect today are beginning to weigh on the US economy, and President Trump says prospects look good for a meeting on ending the war in Ukraine with Russia's Vladimir Putin and Ukraine's Volodymyr Zelenskyy.
Want more comprehensive analysis of the most important news of the day, plus a little fun? Subscribe to the Up First newsletter.
Today's episode of Up First was edited by Susanna Capelouto, Rafael Nam, Krishnadev Calamur, Janaya Williams and Ally Schweitzer. It was produced by Ziad Buchh, Nia Dumas and Christopher Thomas. We get engineering support from Stacey Abbott. And our technical director is Carleigh Strange.
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Want more comprehensive analysis of the most important news of the day, plus a little fun? Subscribe to the Up First newsletter.
Today's episode of Up First was edited by Susanna Capelouto, Rafael Nam, Krishnadev Calamur, Janaya Williams and Ally Schweitzer. It was produced by Ziad Buchh, Nia Dumas and Christopher Thomas. We get engineering support from Stacey Abbott. And our technical director is Carleigh Strange.
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Marketplace All-in-One - The uncertain future of consumer data control
Section 1033 of the Dodd Frank Act was finalized at the end of the Biden administration and would require banks to give consumers free access and control of their personal banking data.
The rule had met legal pushback from the bank industry and the CFPB under the Trump administration planned to scrap it. But last week, the bureau said it will instead rewrite Section 1033.
Marketplace’s Meghan McCarty Carino discusses the news with Rohit Chopra, who served as the director of the Consumer Financial Protection Bureau when the rule was finalized in 2024.
Code Story: Insights from Startup Tech Leaders - S11 Bonus: Trevor Stuart, Split & Harness
Trevor Stuart was born in Florida, but raised in Seattle. He was the son of a tech CFO and an Episcopalian minister - so he learned life at many different angles. He graduated from Boston College, and went into investment banking at Morgan Stanley. Beyond that, he worked at RelateIQ prior to being acquired by Salesforce, which then led him to start his own thing. Outside of tech, he's married and expecting his first child soon. He lives in Sonoma, and loves wine - which type depends on his mood and the time of year.
At RelateIQ, Trevor and his team had a core problem - pushing more code, and looking to move faster, but limiting the amount of quality issues. His co-founder built the early workings of a system he had seen at LinkedIn, around gate keeping features. Eventually, post acquisition of this company, they decided to start building this solution on their own... which led them toward their own acquisition.
This is the creation story of Split andHarness.
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- https://www.harness.io/
- https://www.harness.io/blog/split-joins-forces-with-harness
- https://www.linkedin.com/in/trevorbstuart/
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Curious City - What’s the history of Chinese gangs in Chicago?
Chicago is known for crime bosses like Al Capone, but the city is also home to two Chinese gangs that were once fierce rivals. This story first aired in 2018.