Exploring the economic impact of peak millennials, specifically those born in 1990-1991 turning 33-34 years old. Discussing challenges in housing market, delayed family planning, and generational disillusionment towards the current economic system. Highlighting the significant influence of this microgeneration on various sectors like education, labor market, and housing.

Jeanna Smialek, a reporter covering the Federal Reserve and the U.S. economy for The New York Times, discusses the perplexing disconnect between Americans feeling dissatisfied despite a thriving economy. Topics include rising grocery costs, financial struggles, impact of rapid price increases, challenges faced by young adults, influence of social media on perceptions of the economy, and the emotional power of silent depression videos.

Jeanna Smialek, a New York Times reporter covering the Federal Reserve and the U.S. economy, dives deep into the recent market turmoil. She explains the staggering decline in U.S. stock markets, spurred by rising interest rates and alarming employment data. The discussion reveals how investor sentiment is shaped by economic fears and central bank policies. Smialek also highlights the Fed's cautious stance in balancing inflation control with potential recession risks, all while navigating the politically charged landscape.

Rapid inflation has been a problem in the United States for more than two years, but the tide appears to be turning. Annual inflation is now less than half of what it was last summer.Jeanna Smialek, who covers the Federal Reserve and the U.S. economy for The Times, discusses whether the decline is a result of careful policymaking, or more of a lucky accident.Guest: Jeanna Smialek, a Federal Reserve correspondent for The New York Times.Background reading: Inflation is coming down. Is the Fed winning its fight?How to read the Fed’s projections like a pro.For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday. Unlock full access to New York Times podcasts and explore everything from politics to pop culture. Subscribe today at nytimes.com/podcasts or on Apple Podcasts and Spotify.

On Monday morning, the federal government took over a third failing bank — this time, First Republic.Jeanna Smialek, an economy correspondent for The Times, discusses whether we are at the end of the banking crisis, or the start of a new phase of financial pain.Guest: Jeanna Smialek, an economy correspondent for The New York Times.Background reading: First Republic bank was seized by regulators and sold to JPMorgan Chase.Key takeaways from regulatory review of bank failures.For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday. Unlock full access to New York Times podcasts and explore everything from politics to pop culture. Subscribe today at nytimes.com/podcasts or on Apple Podcasts and Spotify.

In the struggle to control inflation, the Federal Reserve has raised interest rates five times already this year.But those efforts can be blunted if companies keep raising prices regardless. And one industry has illustrated that difficulty particularly starkly: the car market.Guest: Jeanna Smialek, a federal reserve and economy reporter for The New York Times.Background reading: Many companies have been able to raise prices beyond their own increasing costs over the past two years, swelling their profitability but also exacerbating inflation. That is especially true in the car market.Inflation stayed far above the Federal Reserve’s goal in August, as prices climbed more quickly than economists expected.For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday.  Unlock full access to New York Times podcasts and explore everything from politics to pop culture. Subscribe today at nytimes.com/podcasts or on Apple Podcasts and Spotify.

 Companies like Meta and Twitter have said that they will be cutting jobs. Google and Amazon have announced that they are putting a freeze on any new hiring.Are tech layoffs a sign of things to come across other sectors? Is this the opening bell for the bad news on the economy that many have been bracing for?Guest: Jeanna Smialek, a correspondent covering the Federal Reserve and economy for The New York Times.Background reading: President Biden is celebrating a jobs engine that is running hot; Federal Reserve officials want to see more signs of slowing growth amid their campaign to tame inflation.For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday. Unlock full access to New York Times podcasts and explore everything from politics to pop culture. Subscribe today at nytimes.com/podcasts or on Apple Podcasts and Spotify.

American government is designed to have components that are not directly accountable to the public. The Supreme Court is probably the most recognizable example, but it’s not the only one. In her new book, “Limitless: The Federal Reserve Takes On A New Age Of Crisis,” New York Times reporter Jeanna Smialek focuses on another unelected institution with a lot of power over American life: the Federal Reserve.In this installment of the FiveThirtyEight Politics podcast, Smialek argues that over the past century, through successive crises, the Fed has accumulated the power to choose winners and losers across American markets and society on the whole. And if partisan loyalists were to make their way onto the Fed board, that degree of power could be abused. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Economics reporter Jeanna Smialek discusses the 'vibecession' perception versus reality. Economist Gordon Hanson analyzes Biden's tariffs on China. Media hype around AI is debunked, revealing deceptive practices by AI companies and the need for increased scrutiny and regulation.

To fight historic levels of inflation, the Federal Reserve this week, once again, raised interest rates, its most powerful weapon against rising prices.The move was intended to slow demand, but there was also a psychological factor: If consumers become convinced that inflation is a permanent feature of the economy, that might become a self-fulfilling prophecy.Guest: Jeanna Smialek, a correspondent covering the Federal Reserve and the economy for The New York Times.Want more from The Daily? For one big idea on the news each week from our team, subscribe to our newsletter. Background reading: The Federal Reserve has pushed up borrowing costs at the fastest pace in decades.The New York Times invited readers to share their thoughts about the price rises and asked how much more inflation they expected.For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday.  Unlock full access to New York Times podcasts and explore everything from politics to pop culture. Subscribe today at nytimes.com/podcasts or on Apple Podcasts and Spotify.