The risks of being an angel investor. I'm David Brancaccio. First President-elect Trump has appointed

Brendan Carr to head the Federal Communications Commission. Carr is already the senior Republican

on the five-member commission, which regulates the internet, broadcasting, and communications.

Marketplaces Nova Safo has more.

Brendan Carr has already served at the FCC for 12 years. He authored a chapter on the agency

in the Project 2025 blueprint written by many of Trump's allies and former staffers.

Among other things, Carr wants to ban TikTok, reduce media ownership limitations, and narrow Section 230 protections, which shield

social media and tech companies from lawsuits over content moderation practices.

Carr posted on X, formerly Twitter, that as chairman he would end diversity, equity,

and inclusion policies, which seek to eliminate structural disadvantages for people and communities.

I'm Novosafo for Marketplace.

And there's confirmation this morning that Trump has chosen oil and gas executive Chris Wright

for Secretary of Energy, Wright, who leads Liberty Energy, advocates U.S. energy dominance

and is a top critic of efforts to stop climate change.

Americans tell pollsters about high prices, leaving them strapped for cash, yet in the aggregate,

consumers have been shopping and shopping with retail sales up four-tenths of a percent in

October, more than expected. Sales a month earlier had jumped even more. Strong jobs are part of

this, but so is debt. Marketplaces Mitchell Hartman has

that. American splurged on discretionary purchases in October. New cars, electronics, eating out.

Two factors are driving this, says nationwide economist Kathy Bostjansik. Employment growth, resilient.

Wage growth is very solid. The question is, how much

longer can this continue? Bernard Balmall at the Economic Outlook Group says consumers' finances are

...