Tariffs, Inflation, and Consumer Spending Dynamics

The Russell 2000, a stock index of smaller companies or “small caps,” has fallen behind the S&P 500 over the past few years. A Fed rate cut, which may come as soon as next week, could change their luck. In this episode, why interest rates have an outsize effect on smaller companies. Plus: Homebuilding is harder under President Trump’s tariffs and immigration policies, brands lean into the power of scent, and we recap the week’s economic headlines.

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