Planet Money

Tensions rise as President Trump makes a bold move against Lisa Cook, the first Black woman on the Fed Board, claiming her removal. The podcast dives into the delicate balance between political influence and the Federal Reserve's independence, featuring insights from former governors. It discusses how this interference might reshape interest rates and monetary policy. Listeners are taken inside the Fed's governance structure, highlighting the importance of consensus and autonomy to prevent economic instability. The stakes are high for the future of monetary policy.

Celebrate graduation with a lively ceremony and a fun trivia showdown on economic concepts. Discover the political implications behind employment figures and the critical role data collectors play in policymaking. Witness the competition for valedictorian, complete with honorary degrees for influential figures. Dive into quirky economic histories like Argentina's BlackBerry venture and examine how taxes shape consumer behavior. Join in the humor as a fictional valedictorian reflects on truth and the absurdity of their journey.

In recent years, a surge in demand for drugs like Ozempic has reshaped the landscape of weight loss and diabetes management. The podcast dives into how skyrocketing costs and insurance issues impact accessibility for patients. It also explores the rise of alternative medications and the emergence of unregulated compounding pharmacies. Interesting stories reveal the lengths individuals go to find affordable options, from navigating the underground market to exploring copycat drugs. The discussion raises poignant questions about the future of medicine and the ethics of drug supply.

Carolyn Freund, an expert in trade and economics, and Zoe Chase, a reporter who uncovered the impacts of sugar protectionism, dive into the complexities of trade barriers. They discuss how tariffs, while popular, often lead to unintended consequences that can hurt American industries. The conversation highlights the sweet irony of sugar tariffs affecting candy makers and explores the tangled web of protectionism in auto regulations across the U.S. and Europe. Their insights reveal how well-intentioned policies can raise costs for consumers and challenge global competitiveness.

The podcast dives into the emotional impact of rising grocery prices, highlighting personal stories that resonate with many. It explores the disconnect between individual inflation experiences and official statistics, revealing the phenomenon of 'inflation feelings.' Generational anxiety is examined through humor on social media, especially among Gen Z. Budgeting challenges and rising rents add to the complex picture, with economists breaking down how these personal perceptions clash with broader economic measures.

Join market design expert Alex Tadelboim from the University of Oxford and Alaskan deckhand Kirk Van Doren, known as Carcass, as they dive into the intricacies of market dynamics. They discuss how poorly designed markets can lead to dangerous situations, especially in Alaska's fishing industry. Tadelboim explains the role of market designers in ensuring fairness and efficiency, while Van Doren shares harrowing stories from fishing derbies that highlight both the thrill and risks involved. It's a captivating look at how smart design can save lives and enhance market functionality.

Joined by George Papakonstantino, a Professor at the European University Institute and former Greek finance minister, the discussion dives into the dark side of data manipulation. They explore Argentina's inflation statistics scandal and the ensuing fallout, highlighting the struggle for public trust. Papakonstantino then shares insights on Greece's own financial reporting failures, emphasizing the critical need for transparency in economic data. The conversation reveals how cooking the books can lead to long-term economic distrust and the challenges of correcting these missteps.

Juan Ricard-Uguet, a political science professor at Loyola University, Maryland, dives into the complex relationship between government and industry. He discusses how governments shape economies through industrial policies, examining the effectiveness of interventions like tax breaks. The conversation spans global examples, from Argentina's failed phone manufacturing hub to China's solar dominance, highlighting key factors for success and the pitfalls of mismanaged policies. It’s a thought-provoking look at when and why governments should step in to guide industries.

Trust in economists is at an all-time low, especially after a series of controversial job reports and firing incidents. The podcast dives into a tense discussion about the challenges the profession faces, particularly in light of past economic crises like the housing market crash. Experts explore how failures in predicting economic downturns have fueled public skepticism. They discuss strategies to rebuild trust, emphasizing accountability, transparency, and more relatable communication to restore faith in economic forecasts.

Joanne-Ricard Uguet, an associate professor in political science, joins former co-host David Kestenbaum to dive into the complex world of government regulations. They discuss whether regulations truly protect consumers or merely the wealthy elites. The conversation takes lively turns as they explore the licensing hurdles faced by hair braiders and the innovative quest to patent meat processing methods. Tune in for an insightful look at how regulations can stifle creativity while also keeping public safety in check.