Marketplace All-in-One Where's the job market headed?
May 30, 2025
Kristen Schwab, Marketplace's talented correspondent from St. Paul, dives into the complexities of the job market amid economic uncertainty. She shares insights about a Minnesota family of seven facing the pressures of rising costs. The discussion highlights the resilience of the current job market despite challenges like tariffs. Listeners will discover the levels of wealth inequality impacting society, as well as the influence of the ultra-wealthy on politics. It's a vivid exploration of how economic trends shape everyday lives.
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Tariffs Could Push Inflation Up
- The recent PCE inflation report may be the last favorable reading before tariff effects kick in.
- Tariffs increase costs variably absorbed or passed to consumers, likely raising prices soon.
Fed's Tough Stagflation Challenge
- The Fed faces a tough challenge balancing inflation control with the economy slowdown due to tariffs.
- Tariffs make it harder to achieve the dual mandate of maximum employment and stable prices.
Minnesota Family Faces Inflation Crunch
- Julie and Daniel manage a large family of seven with rising costs and logistical challenges.
- They feel the financial squeeze from inflation on necessities like food and housing.
