Make Me Smart With Kai And Molly

Federal Reserve Chair Jay Powell has made it clear that he’s laser-focused on bringing inflation back down to the central bank’s target rate of 2% annually. But why is reaching that specific number such a big deal? And where did the 2% target come from? On the show today, David Wilcox, economist at the Peterson Institute for International Economics and director of U.S. economic research at Bloomberg Economics, explains why it’s important for central banks to have a target inflation rate in the first place, how the Fed landed on 2% in particular and whether that target rate should be lifted in today’s economy. Plus, some monetary policy pro tips. In the news, the Supreme Court considered a legal theory that had gained traction with Republicans and kicked it to the curb. We’ll get into what that might mean for future elections. And, an EV company went the SPAC route, and it didn’t turn out well. Later, listeners sound off on “Star Wars” and a Rubik’s Cube TV series.

Hey Smarties! Kai and Kimberly will be back in your podcast feed tomorrow for our weekly deep dive, but until then we’re bringing you a deep dive of a different kind. It’s an episode from Marketplace’s investigative podcast “The Uncertain Hour” which is all about obscure policies and forgotten histories. In the new season, Marketplace’s Krissy Clark and the team dig into the origins and evolution of America’s welfare-to-work system (which got lots of attention in the recent debt ceiling debate). Let us know what you think. And as Kai often says, history matters!

The median age in the United States, at just under 39, is the highest it’s ever been, and it’s been rising for decades. We’ll get into the economic implications of America’s aging population. Also, the Supreme Court has been getting comfy with ruling on technicalities rather than policy. We’ll explain how that played out in a recent immigration case. Plus, it’s Revenge of the Nerds: Billionaire Edition. And, we’ll play a round of Half Full/Half Empty! Here’s everything we talked about today: “Texas and Louisiana lack right to challenge Biden immigration policy, court rules” from Amylhowe.com “The U.S. Population Is Older Than It Has Ever Been” from The New York Times “How workwear went from functional to fashionable” from Marketplace “Wimbledon to use AI for video highlight commentary” from CNN “Talking credit helps visually impaired people make transactions safely” from

Since Roe v. Wade was overturned nearly a year ago, conservative-led states, including Texas, have passed a slew of bans on abortion and gender affirming health care. Now, many med students and doctors are choosing to work elsewhere. We’ll get into it. And, India has become a top customer for Russian oil. We’ll explain what that means for the global oil supply and regional geopolitics. Plus, a device that makes water out of thin air, and the head of Turkey’s central bank makes the hosts smile. Here’s everything we talked about today: “Bans on abortion and gender-affirming care are driving doctors from Texas” from 19th News “How India Profits From Its Neutrality in the Russia-Ukraine War” from The New York Times “Texas man’s invention provides clean water out of air” from Spectrum News “Turkish Central Bank Jacks Up Interest Rates in Reversal for Erdogan” from The Wall Street Journal “Turkey hikes in

The missing sub of wealthy tourists lost on an excursion to view the wreckage of the Titanic has been dominating news feeds this week, while the story of a deadly migrant shipwreck off the coast of Greece has, for the most part, stayed in the periphery. We’ll get into the disparities in resources and media attention paid to the two disasters. Plus, we connect the dots on interest rates, home sales and new home construction. And, confirmed by the man himself, Fede Chair Jay Powell is a Deadhead. Here’s everything we talked about today: “The Media Cares More About the Titanic Sub Than Drowned Migrants” from The New Republic “Did Hunter Biden get off easy? We asked the experts.” from Politico “Home Listings Plummet as High Mortgage Rates Tie Owners Down” from Bloomberg “New house construction is booming, but most of it isn’t affordable” from Marketplace “Listen to the music play: Fed Chair Jerome Powel

For Black workers in this economy, the last couple of years have brought gains in employment and wages. In April, the Black unemployment rate fell to a historically low 4.7%, and the racial wage gap has shrunk slightly over the last five years. But in terms of the economy as a whole, stark disparities still exist for Black Americans. “I’ve looked at the unemployment rates for the last 60 years,” said Algernon Austin, director for race and economic justice at the Center for Economic and Policy Research. “It’s important to remember that a historically low Black unemployment rate still tends to be a high unemployment rate if you’re a white person.” On this post-Juneteenth episode, Austin explains recent gains by Black workers, why the Federal Reserve can’t fix high Black unemployment alone, and how sputtering diversity, equity and inclusion initiatives in U.S. companies could impact the Black workforce. Plus, why racial justice movements have always been economic stor

The Carrie Bradshaw lifestyle is unreachable for most recent college grads in today’s New York City, thanks to high housing costs. We’ll get into the lengths some younger newcomers are willing to go to make it work and dig into a related problem: a potential commercial real estate crisis. Plus, how should cities deal with cannabis smoke? Then we’ll play a round of This or That! Here’s everything we talked about today: “NYC’s Rent Surge Defied by New Grads Pursuing a TikTok Lifestyle” from Bloomberg “Defaults on commercial real estate loans are rising” from Marketplace “Workers want to stay remote, prompting an office real estate crisis” from The Washington Post “Opinion | How should D.C. deal with pot smoke? from The Washington Post “D.C. resident wins case to stop neighbor smoking marijuana” from Axios The next $50,000 in donations to Marketplace are being matched by longtime fan Dr.

Leaked documents lay out how the conservative American College of Pediatricians (not to be confused with the American Academy of Pediatrics) has influenced policy affecting the LGTBQ community. We’ll get into how this splinter group gained national attention and the problems it poses for medical misinformation. Also, we’ll discuss the aftermath of Texas Gov. Greg Abbott busing migrants to cities like Los Angeles. And a new Rubik’s Cube world record to smile about, followed by a Rubik’s Cube anecdote from Kai Ryssdal. Here’s everything we talked about today: “Documents show how conservative doctors influenced abortion, trans rights” from The Washington Post “Texas sends busload of 42 migrants to Los Angeles” from The Los Angeles Times “Talking With Kirsten Neuschäfer, the First Woman to Sail and Win the Golden Globe” from The New York Times “Max Park Sets World Record for Rubik’s Cube Solution̶

This week, thousands of Reddit’s most popular communities went offline to protest the company’s move to start collecting fees for access to its API or application programming interface. One listener called in to ask what all the fuss is about. We’ll get into it and answer more of your questions about how we keep track of consumer debt and the relationship between the underground economy and GDP. Here’s everything we talked about today: “Why are Reddit communities going private?” from Marketplace “Reddit goes dark” from Platformer “A developer says Reddit could charge him $20 million a year to keep his app working” from The Verge “Reddit Wants to Get Paid for Helping to Teach Big A.I. Systems” from The New York Times “Twitter will make you pay to DM people who don’t follow you” from Mashable “Federal Reserve Board – Consumer Credit from The Federal Reserve R

Today we’re sharing an excerpt from our live show at Town Hall Seattle featuring our special guest, writer and comedian Lindy West. The Seattleite talked with us about Former President Donald Trump’s indictment, the Hollywood writers’ strike, being broke and what it means to be fat positive in the Ozempic era. Plus, she shares some smart facts about snakes, whales and the Canada goose. Here’s everything we talked about: “Lindy West Is Not a Star” from The Stranger “Butt News #24: Never Been Kissed” from Lindy West’s newsletter “Key Takeaways From the Trump Indictment” from The New York Times “Opinion | I Quit Twitter and It Feels Great” from The New York Times “Why writers are having a hard time earning a living in the streaming economy” from NPR Video: “It’s Adorable When A Snake Drinks Water!” from Nature Quest “Planet Money makes an episode using