The Indicator from Planet Money

All Episodes

300 episodes

The nepo baby premium, frothing markets, and Apple vs. Apples

9 min

It’s … Indicators of the Week! Our rapid run through the numbers you need to know.   On today’s episode: John Legend croons; CPI inflation soothes; Same job as mom? You’ll earn more, dude; Apple vs. Apple, a courtroom feud.  Related episodes:  Why every A-lister also has a side hustle (https://www.npr.org/2025/08/14/nx-s1-5501492/why-every-a-lister-also-has-a-side-hustle) The DOJ's case against Apple (https://www.npr.org/2024/09/12/1198907946/the-dojs-case-against-apple) The Intergenerational Transmission of Employers and the Earnings of Young Workers (https://matthewstaiger.github.io/matthewstaiger.com/The%20Intergenerational%20Transmission%20of%20Employers%20and%20the%20Earnings%20of%20Young%20Workers.pdf) Generational Wealth: How High Earners Help Their Children’s Careers (https://www.census.gov/library/stories/2025/08/generational-wealth.html) For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org (http://plus.npr.org/). Fact-checking by Sierra Juarez (https://www.npr.org/people/g-s1-26724/sierra-juarez). Music by Drop Electric (https://dropelectric.bandcamp.com/). Find us: TikTok (https://www.tiktok.com/@planetmoney), Instagram (https://www.instagram.com/planetmoney/), Facebook (https://www.facebook.com/planetmoney), Newsletter (https://www.npr.org/newsletter/money). To manage podcast ad preferences, review the links below: See pcm.adswizz.com (https://pcm.adswizz.com) for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. Learn more about sponsor message choices: podcastchoices.com/adchoices (https://podcastchoices.com/adchoices) NPR Privacy Policy (https://www.npr.org/about-npr/179878450/privacy-policy)

CPI InflationNepo BabyGenerational Wealth

Why every A-lister also has a side hustle

9 min

Seemingly every celebrity has their own brand these days, whether it’s booze (Cameron Diaz, Matthew McConaughey) or cosmetics (Selena Gomez, Lady Gaga) or squeezy food pouches (Jennifer Garner). Today on the show, what is fueling the celebrity business bonanza? We hear from two legendary singers, Lisa Loeb AND John Legend, who are pursuing ventures outside of show business. Related episodes: The celebrity crypto nexus (https://www.npr.org/2022/06/27/1108033471/the-celebrity-crypto-nexus) The Olympian to influencer pipeline (Apple (https://podcasts.apple.com/us/podcast/the-indicator-from-planet-money/id1320118593?i=1000667202033) / Spotify (https://open.spotify.com/episode/0AwikY1q07AQDkQxaiYpZL?si=41baac77d0e24287)) For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org (http://plus.npr.org/). Fact-checking by Sierra Juarez (https://www.npr.org/people/g-s1-26724/sierra-juarez). Music by Drop Electric (https://dropelectric.bandcamp.com/). Find us: TikTok (https://www.tiktok.com/@planetmoney), Instagram (https://www.instagram.com/planetmoney/), Facebook (https://www.facebook.com/planetmoney), Newsletter (https://www.npr.org/newsletter/money). To manage podcast ad preferences, review the links below: See pcm.adswizz.com (https://pcm.adswizz.com) for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. Learn more about sponsor message choices: podcastchoices.com/adchoices (https://podcastchoices.com/adchoices) NPR Privacy Policy (https://www.npr.org/about-npr/179878450/privacy-policy)

Lisa LoebJohn LegendCelebrity Brands

Why Trump's spending bill could close your grocery store

9 min

Trump’s tax and spending law makes the largest cut in history to one of the nation’s biggest safety net programs. Today on the show, we explore how cuts to the Supplemental Nutrition Assistance Program, also known as SNAP, impacts families and grocery stores alike.  Based on the digital story: Independent grocery stores have had a tough five years. SNAP cuts will make it harder (https://wbhm.org/2025/independent-grocery-stores-have-had-a-tough-five-years-snap-cuts-will-make-it-harder/) Related episodes: Do work requirements help SNAP people out of government aid? (https://www.npr.org/2023/02/23/1159150854/do-work-requirements-help-snap-people-out-of-government-aid) When SNAP Gets Squeezed (https://www.npr.org/2020/07/15/891584099/when-snap-gets-squeezed) The trouble with water discounts (https://www.npr.org/2024/10/10/1210938548/the-indicator-from-planet-money-the-trouble-with-water-discounts-10-10-2024) For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org (http://plus.npr.org/). Fact-checking by Sierra Juarez (https://www.npr.org/people/g-s1-26724/sierra-juarez). Music by Drop Electric (https://dropelectric.bandcamp.com/). Find us: TikTok (https://www.tiktok.com/@planetmoney), Instagram (https://www.instagram.com/planetmoney/), Facebook (https://www.facebook.com/planetmoney), Newsletter (https://www.npr.org/newsletter/money). To manage podcast ad preferences, review the links below: See pcm.adswizz.com (https://pcm.adswizz.com) for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. Learn more about sponsor message choices: podcastchoices.com/adchoices (https://podcastchoices.com/adchoices) NPR Privacy Policy (https://www.npr.org/about-npr/179878450/privacy-policy)

SNAPTrump tax billFood stamps

The arduous system for getting aid into Gaza

9 min

Insulin needles. Sleeping bags. Nutella. These are items Arwa Damon’s charity — International Network for Aid, Relief and Assistance (https://inara.org/) — has tried to send to Gaza and Israel has rejected. It’s a glimpse into the harsh reality of a humanitarian crisis with no end in sight. Today on the show, we talk to Damon about the economics of running a humanitarian nonprofit and what’s stopping more aid from reaching Gaza.  Related episodes:  Why Israel uses diaspora bonds (https://www.npr.org/2024/02/29/1197962271/why-israel-uses-diaspora-bonds)  Why the U.S. helps pay for Israel’s military (https://www.npr.org/2024/06/05/1197965031/the-indicator-from-planet-us-aid-israel-military-policy--06-05-2024)  What could convince Egypt to take Gaza’s refugees? (https://www.npr.org/2023/10/19/1197956089/the-indicator-from-planet-money-egypt-gaza-refugees) For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org (http://plus.npr.org/). Fact-checking by Sierra Juarez (https://www.npr.org/people/g-s1-26724/sierra-juarez). Music by Drop Electric (https://dropelectric.bandcamp.com/). Find us: TikTok (https://www.tiktok.com/@planetmoney), Instagram (https://www.instagram.com/planetmoney/), Facebook (https://www.facebook.com/planetmoney), Newsletter (https://www.npr.org/newsletter/money).  To manage podcast ad preferences, review the links below: See pcm.adswizz.com (https://pcm.adswizz.com) for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. Learn more about sponsor message choices: podcastchoices.com/adchoices (https://podcastchoices.com/adchoices) NPR Privacy Policy (https://www.npr.org/about-npr/179878450/privacy-policy)

Arwa DamonINARAGaza

What we're reading on the beach this summer

9 min

It's time for our annual beach reading recs. Today we bring you three books, with a little economic learning to boot. Our recs: Who is Government? The Untold Story of Public Service (https://www.penguinrandomhouse.com/books/788713/who-is-government-by-edited-by-michael-lewis/) edited by Michael Lewis El Dorado Drive (https://www.penguinrandomhouse.com/books/611567/el-dorado-drive-by-megan-abbott/) by Megan Abbott Algospeak: How Social Media is Transforming the Future of Language (https://www.penguinrandomhouse.com/books/776856/algospeak-by-adam-aleksic/) by Adam Aleksic Related episodes: Beach reading with a side of economics (https://www.npr.org/2024/08/12/1197968112/best-economics-books-to-read-this-summer) How to beach on a budget (https://www.npr.org/2025/07/24/1256157822/federal-reserve-beige-book-cheap-beach-entry) For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org (http://plus.npr.org/). Fact-checking by Sierra Juarez (https://www.npr.org/people/g-s1-26724/sierra-juarez). Music by Drop Electric (https://dropelectric.bandcamp.com/). Find us: TikTok (https://www.tiktok.com/@planetmoney), Instagram (https://www.instagram.com/planetmoney/), Facebook (https://www.facebook.com/planetmoney), Newsletter (https://www.npr.org/newsletter/money). To manage podcast ad preferences, review the links below: See pcm.adswizz.com (https://pcm.adswizz.com) for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. Learn more about sponsor message choices: podcastchoices.com/adchoices (https://podcastchoices.com/adchoices) NPR Privacy Policy (https://www.npr.org/about-npr/179878450/privacy-policy)

Michael LewisWho is GovernmentMegan Abbott

More for Palantir, less for mRNA, and a disaster database redemption arc

9 min

It's ... Indicators of the Week! Our weekly look at some of the most fascinating economic numbers from the news. On today's episode: Palantir crosses a billion dollars in quarterly revenue (what do they actually do again?); mRNA vaccine research gets a big cut in RFK Jr's health department; and a climate disaster database gets a new lease on life. Related episodes: How Palantir, the secretive tech company, is rising in the Trump era (https://www.npr.org/2025/05/01/nx-s1-5372776/palantir-tech-contracts-trump) An indicator lost: big disaster costs (https://www.npr.org/2025/06/04/1253616079/an-indicator-lost-big-disaster-costs) Moonshot in the arm (https://www.npr.org/2021/11/05/1053003777/moonshot-in-the-arm) For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org (http://plus.npr.org/). Fact-checking by Sierra Juarez (https://www.npr.org/people/g-s1-26724/sierra-juarez) and Cooper Katz McKim. Music by Drop Electric (https://dropelectric.bandcamp.com/). Find us: TikTok (https://www.tiktok.com/@planetmoney), Instagram (https://www.instagram.com/planetmoney/), Facebook (https://www.facebook.com/planetmoney), Newsletter (https://www.npr.org/newsletter/money). To manage podcast ad preferences, review the links below: See pcm.adswizz.com (https://pcm.adswizz.com) for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. Learn more about sponsor message choices: podcastchoices.com/adchoices (https://podcastchoices.com/adchoices) NPR Privacy Policy (https://www.npr.org/about-npr/179878450/privacy-policy)

PalantirmRNA vaccinesRFK Jr

The legal case for — and against — Trump's tariffs

9 min

President Trump's new round of tariffs took effect today. It will bring in billions of dollars to the government, in part paid for by U.S. importers who can decide whether to pass that cost onto American families. But are these tariffs legal? Today on the show, the arguments for and against the president's tariffs and what happens to that tariff revenue if Trump loses. Related episodes: Trump's tariff role model (https://www.npr.org/2025/02/05/1229167003/mckinley-trump-tin-tariffs) Dealmaker Don v. Tariff Man Trump (https://www.npr.org/2025/04/23/1246593582/donald-trump-tariffs-trade-marc-fisher-michael-kranish) Are Trump's tariffs legal? (https://www.npr.org/2025/06/11/1253992700/tariffs-ieepa-trump-legal-emergencies-law) For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org (http://plus.npr.org/). Fact-checking by Sierra Juarez (https://www.npr.org/people/g-s1-26724/sierra-juarez). Music by Drop Electric (https://dropelectric.bandcamp.com/). Find us: TikTok (https://www.tiktok.com/@planetmoney), Instagram (https://www.instagram.com/planetmoney/), Facebook (https://www.facebook.com/planetmoney), Newsletter (https://www.npr.org/newsletter/money). To manage podcast ad preferences, review the links below: See pcm.adswizz.com (https://pcm.adswizz.com) for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. Learn more about sponsor message choices: podcastchoices.com/adchoices (https://podcastchoices.com/adchoices) NPR Privacy Policy (https://www.npr.org/about-npr/179878450/privacy-policy)

Trump TariffsTrade DeficitNational Emergency

What you need to know about the jobs report revisions

9 min

Why do revisions to the jobs report happen? Today on the show, we speak with a former Commissioner of the Bureau of Labor Statistics about why revisions occur and how we should interpret the monthly report's actual message. Related episodes: Can we still trust the monthly jobs report? (Update) (https://www.npr.org/2025/08/05/1256758542/bls-firing-economic-data-integrity-update) What really goes on at the Bureau of Labor Statistics (Update) (https://www.npr.org/2025/08/04/1256727558/trump-fires-bls-director-jobs-report) ​​How you're using AI at work (https://www.npr.org/2025/08/01/1256575152/july-jobs-report-ai-in-the-workplace) For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org (http://plus.npr.org/). Fact-checking by Sierra Juarez (https://www.npr.org/people/g-s1-26724/sierra-juarez). Music by Drop Electric (https://dropelectric.bandcamp.com/). Find us: TikTok (https://www.tiktok.com/@planetmoney), Instagram (https://www.instagram.com/planetmoney/), Facebook (https://www.facebook.com/planetmoney), Newsletter (https://www.npr.org/newsletter/money). To manage podcast ad preferences, review the links below: See pcm.adswizz.com (https://pcm.adswizz.com) for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. Learn more about sponsor message choices: podcastchoices.com/adchoices (https://podcastchoices.com/adchoices) NPR Privacy Policy (https://www.npr.org/about-npr/179878450/privacy-policy)

Jobs ReportBLS RevisionsBill Beach

Can we still trust the monthly jobs report? (Update)

8 min

Since his return to office, President Trump has waged something of a pressure campaign on economic data and the people in charge of delivering it. His firing of the Bureau of Labor Statistics commissioner following a weak jobs report now has some wondering: can we still trust the official numbers? Today on the show, we're resharing our conversation with former BLS commissioner, Erica Groshen on her current fears for the integrity of government data. The original version (https://www.npr.org/2025/03/07/1236538089/doge-gdp-bls-department-of-labor-jobs-report) of this story aired March 7, 2025. Related: What really goes on at the Bureau of Labor Statistics? (Update) (https://www.npr.org/2025/08/04/1256727558/trump-fires-bls-director-jobs-report) (Apple (https://podcasts.apple.com/us/podcast/the-indicator-from-planet-money/id1320118593?i=1000720277395) / Spotify (https://open.spotify.com/episode/057UFl8X91tpCDfT9oGdzK?si=5dbfc7305e5a4a49)) Would you trust an economist with your economy? (https://www.npr.org/2025/08/01/1256575142/trust-economics-trump-bls-bureau-labor-statistics-jobs) (Apple (https://podcasts.apple.com/us/podcast/planet-money/id290783428?i=1000720290749) / Spotify (https://open.spotify.com/episode/7J7g5dLgJbtUic6f4yCb9Z?si=526eb4a533254c9e)) For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org (http://plus.npr.org/). Fact-checking by Sierra Juarez (https://www.npr.org/people/g-s1-26724/sierra-juarez). Music by Drop Electric (https://dropelectric.bandcamp.com/). Find us: TikTok (https://www.tiktok.com/@planetmoney), Instagram (https://www.instagram.com/planetmoney/), Facebook (https://www.facebook.com/planetmoney), Newsletter (https://www.npr.org/newsletter/money). To manage podcast ad preferences, review the links below: See pcm.adswizz.com (https://pcm.adswizz.com) for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. Learn more about sponsor message choices: podcastchoices.com/adchoices (https://podcastchoices.com/adchoices) NPR Privacy Policy (https://www.npr.org/about-npr/179878450/privacy-policy)

TrumpBureau of Labor StatisticsErica Groshen

What really goes on at the Bureau of Labor Statistics (Update)

9 min

On Friday, we reported on the latest jobs numbers (https://www.npr.org/2025/08/01/1256575152/july-jobs-report-ai-in-the-workplace) from the Bureau of Labor Statistics, which showed weaker than expected growth. On Friday afternoon, President Trump fired the person in charge of those numbers. The monthly jobs report is a critical tool for the economy, used by businesses to make decisions and the Federal Reserve to set rates. So how exactly are those figures collected? Today, we're re-airing our behind-the-scenes look at how the BLS puts together the jobs report ... one call at a time. This show originally aired (https://www.npr.org/2022/06/03/1102884171/behind-the-scenes-of-jobs-friday) June 6, 2022. Related: Can we trust the monthly jobs report? (https://www.npr.org/2025/03/07/1236538089/doge-gdp-bls-department-of-labor-jobs-report) Would you trust an economist with your economy? (https://www.npr.org/2025/08/01/1256575142/trust-economics-trump-bls-bureau-labor-statistics-jobs) For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org (http://plus.npr.org/). Fact-checking by Sierra Juarez (https://www.npr.org/people/g-s1-26724/sierra-juarez) and Corey Bridges. Music by Drop Electric (https://dropelectric.bandcamp.com/). Find us: TikTok (https://www.tiktok.com/@planetmoney), Instagram (https://www.instagram.com/planetmoney/), Facebook (https://www.facebook.com/planetmoney), Newsletter (https://www.npr.org/newsletter/money). To manage podcast ad preferences, review the links below: See pcm.adswizz.com (https://pcm.adswizz.com) for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. Learn more about sponsor message choices: podcastchoices.com/adchoices (https://podcastchoices.com/adchoices) NPR Privacy Policy (https://www.npr.org/about-npr/179878450/privacy-policy)

Bureau of Labor StatisticsJobs ReportErica McIntyre

How you're using AI at work

9 min

AI is a hot topic for both employers and employees in the workforce. That's why we wanted to hear from our listeners about how they are using AI at work. Today on the show, we explore the good, the bad and the ugly of AI in the workplace. Related episodes: Is AI overrated? (https://www.npr.org/2024/07/25/1197967800/is-ai-overrated) Is AI underrated? (https://www.npr.org/2024/07/24/1197967794/is-ai-underrated) For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org (http://plus.npr.org/). Fact-checking by Sierra Juarez (https://www.npr.org/people/g-s1-26724/sierra-juarez). Music by Drop Electric (https://dropelectric.bandcamp.com/). Find us: TikTok (https://www.tiktok.com/@planetmoney), Instagram (https://www.instagram.com/planetmoney/), Facebook (https://www.facebook.com/planetmoney), Newsletter (https://www.npr.org/newsletter/money). To manage podcast ad preferences, review the links below: See pcm.adswizz.com (https://pcm.adswizz.com) for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. Learn more about sponsor message choices: podcastchoices.com/adchoices (https://podcastchoices.com/adchoices) NPR Privacy Policy (https://www.npr.org/about-npr/179878450/privacy-policy)

AI at workJobs reportUnemployment rate

Why the Fed could lose $1.5 trillion

9 min

The Fed is on the hook for an estimated one-and-a-half trillion dollars (https://www.mercatus.org/research/policy-briefs/federal-reserve-overstaffed-or-overworked-insights-feds-financial-statements). Despite the recent headlines, that's not because of building renovations. It's a much larger cost blowout caused by big actions taken during the pandemic to help the economy: quantitative easing. Today on the show, we talk to both a critic of these actions (https://www.nber.org/papers/w30749) and someone who helped put those those actions in play. To manage podcast ad preferences, review the links below: See pcm.adswizz.com (https://pcm.adswizz.com) for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. Learn more about sponsor message choices: podcastchoices.com/adchoices (https://podcastchoices.com/adchoices) NPR Privacy Policy (https://www.npr.org/about-npr/179878450/privacy-policy)

Federal ReserveQuantitative EasingJerome Powell

The risk of private equity in your 401(k)

9 min

Private equity is a risky business. There are high-highs and low-lows. A retirement plan, on the other hand, is meant to be a reliable beast. But President Trump believes your 401(k) can handle it! On today's show, the president's expected executive order could help offer some legal cover for fund managers who include private equity in your retirement portfolio. What are the risks and benefits? Related episodes: The Prudent Man Rule (Apple (https://podcasts.apple.com/us/podcast/the-indicator-from-planet-money/id1320118593?i=1000577970920) / Spotify (https://open.spotify.com/episode/15BYafZ2RVHSv1vZz27TXR?si=d9478a6e072243c2)) Carried interest wormhole (Apple (https://podcasts.apple.com/us/podcast/planet-money/id290783428?i=1000691596660) / Spotify (https://open.spotify.com/episode/34zsm1KIMi6voeDPSaEMQs?si=aa546914db7d44b7)) Let's party like it's NVIDIA earnings report day! (Apple (https://podcasts.apple.com/us/podcast/the-indicator-from-planet-money/id1320118593?i=1000667532666) / Spotify (https://open.spotify.com/episode/0G8GRcpFS78jejmKKpSJQm?si=58d303c5491f46f7)) For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org (http://plus.npr.org/). Fact-checking by Sierra Juarez (https://www.npr.org/people/g-s1-26724/sierra-juarez). Music by Drop Electric (https://dropelectric.bandcamp.com/). Find us: TikTok (https://www.tiktok.com/@planetmoney), Instagram (https://www.instagram.com/planetmoney/), Facebook (https://www.facebook.com/planetmoney), Newsletter (https://www.npr.org/newsletter/money). To manage podcast ad preferences, review the links below: See pcm.adswizz.com (https://pcm.adswizz.com) for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. Learn more about sponsor message choices: podcastchoices.com/adchoices (https://podcastchoices.com/adchoices) NPR Privacy Policy (https://www.npr.org/about-npr/179878450/privacy-policy)

Private Equity401kTrump Executive Order

The hottest multilateral club doesn't include the US

9 min

BRICS is an economic alliance of countries that includes Brazil, Russia, India, China, South Africa and several other nations. They met earlier this month to discuss everything from international law to global health. President Trump, however, is not a fan of BRICS and threatened members with increased tariffs. So why has this alliance generated so much animosity from the President? Today on the show, we talk to the economist who coined the term "BRICs" (https://www.goldmansachs.com/insights/goldman-sachs-research/building-better) about the origins of the group and why the international economic organizations have been western dominated for so long. Related episodes: China's trade war perspective (https://www.npr.org/2025/04/22/1246322286/chinas-trade-war-perspective) Is the US pushing countries towards China? (https://www.npr.org/2025/04/29/1247777247/pakistan-us-china-trade-tariffs-aid) For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org (http://plus.npr.org/). Fact-checking by Sierra Juarez (https://www.npr.org/people/g-s1-26724/sierra-juarez). Music by Drop Electric (https://dropelectric.bandcamp.com/). Find us: TikTok (https://www.tiktok.com/@planetmoney), Instagram (https://www.instagram.com/planetmoney/), Facebook (https://www.facebook.com/planetmoney), Newsletter (https://www.npr.org/newsletter/money). To manage podcast ad preferences, review the links below: See pcm.adswizz.com (https://pcm.adswizz.com) for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. Learn more about sponsor message choices: podcastchoices.com/adchoices (https://podcastchoices.com/adchoices) NPR Privacy Policy (https://www.npr.org/about-npr/179878450/privacy-policy)

BRICSJim O'NeillG7

A baby bonds bonanza

9 min

Baby bond fever is catching on. In recent years, states like Connecticut have been experimenting with giving newborns government-seeded accounts that grow tax-free until they are 18. Now, President Trump's signature tax and spending bill will give a thousand dollars to every U.S.-born baby through 2028. On today's show, what are baby bonds and could they help tackle wealth inequality? Related: Baby bonds, proportional representation, and no left turns (https://www.npr.org/transcripts/1197956583) Could cash payments ease recessions? (https://www.npr.org/2024/02/05/1197961671/could-cash-payments-ease-recessions) Building generational wealth in rural America (https://www.npr.org/2024/05/20/1197964748/generational-wealth-housing-rural-america) For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org (http://plus.npr.org). Fact-checking by Cooper Katz McKim. Music by Drop Electric (https://dropelectric.bandcamp.com/). Find us: TikTok (https://www.tiktok.com/@planetmoney), Instagram (https://www.instagram.com/planetmoney/), Facebook (https://www.facebook.com/planetmoney), Newsletter (https://www.npr.org/newsletter/money). To manage podcast ad preferences, review the links below: See pcm.adswizz.com (https://pcm.adswizz.com) for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. Learn more about sponsor message choices: podcastchoices.com/adchoices (https://podcastchoices.com/adchoices) NPR Privacy Policy (https://www.npr.org/about-npr/179878450/privacy-policy)

Baby BondsConnecticutTrump Administration

Nigeria notches new highs, Magic gathers millions, and crypto climbs

9 min

It's ... Indicators of the Week! Our weekly look at some of the most fascinating economic numbers from the news. On today's episode: Nigeria gets a GDP surprise, Magic the Gathering mutes tariff impact for Hasbro, and Bitcoin reaches record highs following the passage of the GENIUS Act. Related episodes: How stable is Stablecoin? (Apple (https://podcasts.apple.com/mn/podcast/how-stable-is-stablecoin/id1320118593?i=1000705474935) / Spotify (https://open.spotify.com/episode/4dh6tw2A7ru8uSvOvw12EV)) Episode 609: The Curse Of The Black Lotus (https://www.npr.org/sections/money/2018/12/26/679311116/episode-609-the-curse-of-the-black-lotus) For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org (http://plus.npr.org/). Fact-checking by Sierra Juarez (https://www.npr.org/people/g-s1-26724/sierra-juarez). Music by Drop Electric (https://dropelectric.bandcamp.com/). Find us: TikTok (https://www.tiktok.com/@planetmoney), Instagram (https://www.instagram.com/planetmoney/), Facebook (https://www.facebook.com/planetmoney), Newsletter (https://www.npr.org/newsletter/money). To manage podcast ad preferences, review the links below: See pcm.adswizz.com (https://pcm.adswizz.com) for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. Learn more about sponsor message choices: podcastchoices.com/adchoices (https://podcastchoices.com/adchoices) NPR Privacy Policy (https://www.npr.org/about-npr/179878450/privacy-policy)

NigeriaGDP RevisionInformal Economy

How to beach on a budget

9 min

It's the Beigie Awards, our eight times a year salute to the art and science of telling stories about the economy. The most recent Beige Book (https://www.federalreserve.gov/monetarypolicy/beigebook202507-summary.htm) shows that Americans are finding ways to spend less money ... including on their vacations. On today's show, we find out what Benjamin Franklin and Jersey Beach goers have in common. Related episodes: How many times can you say uncertainty in one economic report? (https://www.npr.org/2025/03/13/1238261953/beigies-uncertainty-tariffs-farming) Trump's cuts come for food banks (https://www.npr.org/2025/05/05/1249236680/usda-food-banks-trump-kansas-missouri) The secret tariff-free zone (https://www.npr.org/2025/06/11/1253992695/beige-book-bonded-foreign-trade-zone-warehouses) For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org (http://plus.npr.org/). Fact-checking by Sierra Juarez (https://www.npr.org/people/g-s1-26724/sierra-juarez). Music by Drop Electric (https://dropelectric.bandcamp.com/). Find us: TikTok (https://www.tiktok.com/@planetmoney), Instagram (https://www.instagram.com/planetmoney/), Facebook (https://www.facebook.com/planetmoney), Newsletter (https://www.npr.org/newsletter/money). To manage podcast ad preferences, review the links below: See pcm.adswizz.com (https://pcm.adswizz.com) for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. Learn more about sponsor message choices: podcastchoices.com/adchoices (https://podcastchoices.com/adchoices) NPR Privacy Policy (https://www.npr.org/about-npr/179878450/privacy-policy)

Beige BookBeigie AwardsPhiladelphia Fed

When Uncle Sam owned banks and factories

9 min

The quintessential American economic myth is that the free market picks winners and losers. But the federal government has long had a role in this equation, from the current administration all the way back to the Great Depression. Today on the show, we uncover the history of the country's national investment bank, which shaped the relationship between the government and the market in ways that are still felt today. Check out Chris Hughes (https://chrishughes.substack.com/) Substack Related episodes: The day Russia adopted the free market (Apple (https://podcasts.apple.com/us/podcast/planet-money/id290783428?i=1000691596692) / Spotify (https://open.spotify.com/episode/5wNomIHz5fc009L0Xac9fY?si=a0c75b30e0954f62)) Giant vacuums and other government climate bets (Apple (https://podcasts.apple.com/us/podcast/the-indicator-from-planet-money/id1320118593?i=1000627799094) / Spotify (https://open.spotify.com/episode/3Sz4SVywD0Z6htnoLW1NcY?si=3802238e3f4348a9)) For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org (http://plus.npr.org/). Fact-checking by Julia Ritchey. Music by Drop Electric (https://dropelectric.bandcamp.com/). Find us: TikTok (https://www.tiktok.com/@planetmoney), Instagram (https://www.instagram.com/planetmoney/), Facebook (https://www.facebook.com/planetmoney), Newsletter (https://www.npr.org/newsletter/money). To manage podcast ad preferences, review the links below: See pcm.adswizz.com (https://pcm.adswizz.com) for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. Learn more about sponsor message choices: podcastchoices.com/adchoices (https://podcastchoices.com/adchoices) NPR Privacy Policy (https://www.npr.org/about-npr/179878450/privacy-policy)

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Lunch with the man who coined TACO

8 min

Despite presidential saber rattling and huge tariff threats, the U.S. stock market keeps reaching record highs. Why? Today we sit down with the man who coined the acronym TACO (Trump Always Chickens Out) and chew through several hypotheses. (Over tacos, of course.) To manage podcast ad preferences, review the links below: See pcm.adswizz.com (https://pcm.adswizz.com) for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. Learn more about sponsor message choices: podcastchoices.com/adchoices (https://podcastchoices.com/adchoices) NPR Privacy Policy (https://www.npr.org/about-npr/179878450/privacy-policy)

TACO acronymTrump tariffsStock market highs

Your tinned fish obsession is helping resurrect a lost industry

9 min

Once upon a time, the states had a thriving tinned fish market. Like a lot of U.S. manufacturing though, that's been lost. But sardines are having a moment right now and that may help a growing effort to resurrect this lost industry. Related episodes: Why do shrimpers like tariffs (Apple (https://podcasts.apple.com/us/podcast/the-indicator-from-planet-money/id1320118593?i=1000706589300) / Spotify (https://open.spotify.com/episode/1NwSN5NSXjeEOS2kFYhPBd?si=763152be4ae848bb)) When a staple becomes a luxury (Apple (https://podcasts.apple.com/us/podcast/the-indicator-from-planet-money/id1320118593?i=1000634701520) / Spotify (https://open.spotify.com/episode/1YtixWgVYkICTEiXR8gwaN?si=14920a3faced479f)) We're gonna need a bigger boat-building industry (Apple (https://podcasts.apple.com/us/podcast/the-indicator-from-planet-money/id1320118593?i=1000714570308) / Spotify (https://open.spotify.com/episode/4M7knWnJGYX79cHhZh87Qq?si=20f75e92282a4161)) For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org (http://plus.npr.org/). Fact-checking by Sierra Juarez (https://www.npr.org/people/g-s1-26724/sierra-juarez). Music by Drop Electric (https://dropelectric.bandcamp.com/). Find us: TikTok (https://www.tiktok.com/@planetmoney), Instagram (https://www.instagram.com/planetmoney/), Facebook (https://www.facebook.com/planetmoney), Newsletter (https://www.npr.org/newsletter/money). To manage podcast ad preferences, review the links below: See pcm.adswizz.com (https://pcm.adswizz.com) for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. Learn more about sponsor message choices: podcastchoices.com/adchoices (https://podcastchoices.com/adchoices) NPR Privacy Policy (https://www.npr.org/about-npr/179878450/privacy-policy)

Tinned FishSardinesGreat Lakes Tinned Fish