Marketplace All-in-One The Real Costs: Special Coverage from "Marketplace"
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Aug 25, 2025 
Patrick Smith, a fourth-generation apple and hops farmer from Loftus Ranches in Yakima, Washington, discusses the current economic turmoil affecting agriculture. He shares insights on navigating uncertainties such as inflation, labor shortages, and evolving trade policies. The conversation dives into the complexities of the Consumer Price Index, market trends contrasting a rising stock market with economic challenges, and the critical role of reliable data for business decisions. Smith’s personal experiences shed light on the real costs and pressures faced by farmers today.
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CPI Drives Immediate Market Analysis
- The Consumer Price Index (CPI) is a central, time-sensitive indicator many economists watch closely each month.
- Nicole Servi at Wells Fargo checks CPI tables and publishes a reaction report within about an hour of release.
Survey Response Drops Raise Data Doubt
- Falling survey response rates and large revisions threaten the reliability of headline labor data.
- Nicole Servi says shaky early estimates force caution interpreting preliminary numbers.
Time Use Survey Tracks Real-Life Choices
- The American Time Use Survey logs detailed daily activities, moods, and pain to link time use with economic behavior.
- Michael Horrigan and Stacey Vanek-Smith use it to show how leisure and childcare decisions inform labor and policy choices.