Are federal cuts threatening food safety?
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 23 June 2025
⏱️ 8 minutes
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Summary
Last week, a listeria outbreak linked to ready-to-eat meals sold at Walmart and Kroger led to hospitalizations and three deaths. Major DOGE cuts targeted administrative and communications staff at food safety agencies, and some experts worry there could be further weakening of America's food safety systems. We'll hear more. But first: We'll give an update on oil markets and the Middle East, and learn about the work left to do on the big tax and spending bill.
Transcript
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| 0:00.0 | We'll update markets and the Middle East. |
| 0:04.4 | I'm David Brancaccio in Los Angeles. |
| 0:06.8 | In early trading here, stock indexes are mixed, but the movements are tentative, given the U.S. bombing of Iran's nuclear facilities this weekend. |
| 0:17.5 | The Dow is up now 78 points, 2 tenths percent. |
| 0:20.5 | The S&P is up 3 tenths percent. Now the NASDAQ is up by a tenth percent. Crude oil up just slightly, three-tenths of a percent using the New York price now, 73-50 a barrel. Iran's state-run press TV reported that Parliament had approved a plan to close the Strait of Hormuz. U.S. Secretary of State |
| 0:39.0 | Marco Rubio has called on Iran's ally China to try to prevent this. I spoke to Fernando Valley this morning. |
| 0:45.7 | He's managing director of energy for the investment firm Hedge-E-I risk management. Welcome. |
| 0:50.7 | Good morning. I have it on my screen here, but when you look at the price of crude oil traded in New York this morning, what does that price tell you? |
| 0:59.3 | There's no real belief on the market that the Strader Harmoose is going to be closed. |
| 1:03.7 | Otherwise, oil would be significantly higher. |
| 1:06.4 | There's a fear that at least the shipments are going to take longer. |
| 1:10.2 | They could be more costly to ensure. But there's no real belief that the Stradah-Harmuz itself is going to be closed. |
| 1:17.2 | What accounts for that? I mean, we're consulting experts who say it is a possibility that the Iranians could do that. They don't necessarily have to, but they might have the capability to do so. |
| 1:29.5 | So why are the oil traders so chill on that point? |
| 1:33.9 | I think the reason is it's, A, very difficult to close, but B, you'd be very costly to Iran itself. |
| 1:42.5 | Most of its exports are going through the Strait of Hermuz itself, |
| 1:45.9 | and it's not going to be closed on just one side. |
| 1:49.2 | You'd expect that rivals and the opponents of Iran, us, Israel, others would be very contentious |
| 1:56.1 | to Iran closing the Strait of Hermuz. |
| 1:59.3 | And it would mean that the 1.3 to 1.4 million barrels a day of oil |
| 2:03.7 | that go through Karg Island in Iran cannot get it out of the strait. And that's essentially the |
| 2:09.3 | lifeblood of the Iranian economy. And on top of that China, which has been one of its bigger |
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