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Marketplace All-in-One

An economic vibe shift?

Marketplace All-in-One

Marketplace

News, Business

4.51.4K Ratings

🗓️ 2 August 2023

⏱️ 27 minutes

🧾️ Download transcript

Summary

The economy seems pretty strong right now: Inflation is moderating and consumer sentiment is up. In other words, the vibes are good. So is it possible we’ve skirted a recession? Or that the “vibecession” is over? Also on today’s program: claims of a superconductor breakthrough, AI’s impact on voice assistants and calls to end “scholarship displacement.”

Transcript

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0:00.0

Marketplace Morning reports new Skin in the Game series explores what we can learn about

0:04.5

money and careers from the $300 billion video game industry.

0:09.2

Plus, here how an Oakland-based program helps young people get the skills they need to break

0:14.0

into this booming industry. Listen to Skin in the Game and more from the Marketplace Morning

0:19.2

report wherever you get your podcasts.

0:49.3

Everybody, the Marketplace macroeconomic word of the day today is vibes.

0:56.2

An explanation will be forthcoming in a matter of minutes, but to set the stage,

1:01.1

some of the data behind said vibes. Let us start with just one example,

1:05.8

an update from the Institute for Supply Management on US Manufacturing for July,

1:10.4

which included this line, the prices index remained in decreasing territory at a level generally

1:18.8

not seen since early in the coronavirus pandemic. When, by the way, this is no longer a quote,

1:24.0

you had to look really, really hard to find any inflation in this economy.

1:29.2

Marketplace's Mitchell Hartman gets us going with the data vibe.

1:33.1

I like it when an economist gives me an economic zeitgeist quote right at the top.

1:38.0

The economy continues to expand, but inflation pressures are easing.

1:43.0

Thanks for doing the heavy lifting Bill Adams, Chief Economist at Comerica Bank.

1:48.0

Adams says the latest ISM report on manufacturing confirms that the pandemic

1:53.2

era dynamic of shortages of everything causing inflation is behind us.

1:57.6

Supply chains are functioning better, consumers are spending more on experiences and less

2:02.8

on things, more supply, less demand, and that's going to flow through to slower increases in

2:09.4

manufactured goods prices or outright declines, and that's good for the Fed getting inflation

2:14.4

back to their target. We're seeing this inflation dynamic play out in the auto industry,

...

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