When the U.S. launched a war against Iran, some Wall Street traders bet the ensuing energy shortages would push inflation up. Now that a ceasefire has brought down gas prices, the narrative has shifted: What if cheaper gas fires up the economy too much? In this episode, the markets are betting on inflation, whichever way you slice it. Plus: Prospective buyers struggle to secure mortgages on homes worth less than $100,000, local getaways anticipate healthy summer vacation demand, and direct-to-consumer brands reframe their environmental commitments.

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Read the stories in today’s episode:

• Whether oil prices are high or low, Wall Street is betting on inflation
• The housing bill that might make small mortgages easier
• With summer travelers facing higher costs, local vacation spots are thriving
• Why one direct-to-consumer brand is shifting its messaging
• Beekeeper turned business owner is growing into newer, bigger spaces

A typical starter home in nearly 250 U.S. cities is now worth $1 million or more, according to Zillow. Is that even a starter home anymore? In this episode, how rapid housing inflation has changed the game for first-time homebuyers and why more Americans are opting for a starter home in the suburbs. Plus: Manufacturing data reflects strong sector growth, U.S. trading partners bear the economic brunt of Trump’s war with Iran, and the 1973 oil crisis provides lessons for dealing with chaotic fuel costs today.

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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.

The last time Austan Goolsbee voted in an FOMC meeting, he was one of two policymakers opposed to cutting interest rates. Six months later, he doesn’t regret that dissent. In this episode, Kai catches up with the Chicago Fed president to discuss the central bank’s communication style, persistent inflation concerns, and former Fed Chair Alan Greenspan’s legacy. Plus: Beef prices are likely to keep climbing this year, it could take months to rebuild depleted oil reserves, and economists make a case that AI could drive more inflation.

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.

Read the stories from today’s episode:

• Chicago Fed President: Inflation is "well above the target and has been going the wrong way"
• As the oil crisis eases, the global scramble to replenish reserves begins
• Why beef prices keep climbing
• Many economists believe that AI will lead to more inflation. Why?
• How We Survive: A Carbon Burial at Sea

As high interest rates tamp down homebuying demand, more homebuilders are offering free appliances or upgraded hardware to sweeten the deal. Throwing in a free dishwasher is one thing, but how are they able to offer lower mortgage interest rates? In this episode, we check on the homebuilding sector. Plus: Hotel housekeepers say AI-driven app makes work more difficult, scientists design sunshades built for space, and a “talking book” nonprofit brings news and books to blind people.

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.

Read the stories from today’s episode:

• Builders offer incentives to attract homebuyers as high interest rates persist
• Nebraska nonprofit brings local news and opportunities to blind and low-vision listeners
• More stress, fewer breaks: Hotel housekeepers reveal what it’s like working for an app
• A climate change solution from science fiction

Kevin Warsh held his first press conference as Fed chair on Wednesday, and — unlike his precedessor — did not say what the central bank plans to do next. Despite his tight lips, markets read between the lines and predict a rate hike is coming soon. In this episode, why Warsh is rewriting the Fed’s communication style, and how it could alter the economy. Plus: Jobless claims tick down a bit, GPS shapes global infrastructure, and RV owners struggle to sell their vintage digs.

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.

Read today’s stories:

• Unemployment is still low, but so is hiring
• Fed Chair Kevin Warsh is trying to keep his options open. Investors are parsing his words anyway
• GPS is a pillar of the global economy, and it's also pretty vulnerable
• Used RV sales are up, but many large, older rigs are sitting on lots for months

Retail sales were up 0.9% in May, which is a generally positive economic sign. But it doesn’t square with our reality, in which price inflation outpaces wage growth. That is, until you look at that pesky personal savings rate. In this episode, YOLO consumers in a grim economy. Plus: Fed Chair Warsh holds rates steady, the rate of new households is falling, and what would happen if the U.S. lost its global reserve currency status.

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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.

Nvidia just joined the likes of Amazon and Alphabet in selling off billions of dollars in bonds. What do these tech giants need help financing? Data centers, of course, to support the buildout of artificial intelligence infrastructure. For now, the cash is flowing, but when will these firms need to show some returns on those investments? Also in this episode: Commercial solar energy projects approach a deadline for federal tax credits, Fox enters the streaming wars by acquiring Roku, and Kai breaks down the history of post-FOMC press conferences.

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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.

Nuclear energy can lower one cost that has seen rapid inflation in recent years: electricity bills. But nuclear power plants aren’t cheap to build. In one state, legislators wade into a debate over whether taxpayers or utility companies should shoulder the burden. Also in this episode: Kevin Warsh faces war-driven inflation ahead of his first FOMC meeting as Fed chair, MAHA movement drives up cotton demand, and advertisers leverage the World Cup to reach Latino consumers.

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.