Marketplace
Amid turmoil, firms cling to their employees
Apr 17, 2025
Mitchell Hartman, a reporter for Marketplace, dives into the current economic landscape where stable jobless claims contrast sharply with other market uncertainties. He discusses how Trump's tariffs may unintentionally encourage businesses to retain employees. The conversation also touches on the European Central Bank's interest rate cuts and the significance of EV tax credits. Additionally, Hartman shares inspiring stories of resilience from Altadena's business owners who are persevering despite challenges, highlighting the intertwined nature of community spirit and economic turbulence.
25:47
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Quick takeaways
- Despite economic turmoil, the labor market remains relatively stable as companies hesitate to lay off employees amidst uncertain conditions.
- The contrasting approaches of the U.S. and European Central Banks in handling interest rates illustrate the varying challenges faced by economies globally.
Deep dives
Presidential Pressure on the Federal Reserve
President Trump has publicly criticized Federal Reserve Chair Jay Powell, expressing dissatisfaction with his handling of interest rates. Trump has implied that Powell's firing would be warranted and indicated that he would act on this if necessary. The controversy surrounding the Fed's interest rate decisions highlights the complexities of its independence, especially as legal challenges over presidential powers loom. If Powell were to be dismissed, experts warn that it could lead to significant negative repercussions for the economy.
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