Marketplace Food banks tackle summer break hunger
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Jun 17, 2025 In this insightful discussion, Matt Levin, a Marketplace reporter focusing on trade wars, and Daniel Ackerman, a retail beat reporter, highlight the struggles of food banks during the summer when kids lose access to school meals. They delve into the impact of recent USDA budget cuts and heightened deportation fears on hungry families in Texas. Additionally, the duo tackles the broader economic ramifications of tariffs, showcasing the rising costs of essential goods and a marked drop in consumer spending, illustrating how families are feeling the pinch.
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Dollar Losing Reserve Dominance
- The U.S. dollar remains the global reserve currency but is losing dominance due to trade tensions and declining investor demand.
- Businesses are increasingly negotiating payments in currencies other than the dollar to secure cheaper prices and reduce risk.
Consumer Spending Shifts Due to Tariffs
- May retail sales dropped 0.9% after consumers bought early to avoid tariff hikes on big purchases.
- Shoppers are now spending cautiously, focusing on essentials and saving more due to higher prices.
Chocolate Shop Feels Sales Dip
- Kristen Tallheimer Bingham, a chocolate shop owner in Maine, reported 10% lower foot traffic since before Mother's Day.
- She stocked up early to avoid price hikes and feels fortunate to have enough chocolate for this year and beyond.