4.8 • 1.3K Ratings
🗓️ 12 December 2025
⏱️ 27 minutes
🧾️ Download transcript
While markets are mellowing a bit, three major stock indexes closed at record highs on Thursday. Reminder: The stock market is not the economy! But it still can tell us how investors — and by association, high-income Americans — are feeling about the future. In this episode, who wins when the stock market performs well. Plus: Old MacDonald has a ... drone? And we check-in with three retailers around the U.S. about the holiday shopping season.
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| 0:00.0 | The weather. Tomorrow, expect a... Biting cold front. Hmm, how naughty. I wonder what I'll be |
| 0:06.9 | wearing or taking off. The night will be wild and untamed. Expect heavy, lashing rain that'll soak you |
| 0:13.8 | to the skin. By Monday, temperatures will rise slowly but surely reaching their peak in the afternoon. |
| 0:21.3 | Not in the mood for miserable weather. |
| 0:23.5 | Fly cheaply to Turkey with Sun Express. |
| 0:26.3 | Sun Express, nonstop sunshine. |
| 0:31.4 | We'll catch up with the week that was, of course. |
| 0:35.1 | We'll talk stocks and retail and farming, too. From American public media, |
| 0:41.5 | this is Marketplace. |
| 0:52.1 | In Los Angeles, I'm Kyle. It is Friday. Today, this one is the 12th of December. Good as always to have you along, everybody. |
| 1:00.0 | We are at three and counting. That is the number of federal open market committee meetings. One Jerome Powell has left before he is done as chair. |
| 1:09.2 | And honestly, he's going to have his hands full in the home stretch. Not only is the economy not cooperating with what Powell has said he wants to be a smooth transition, but his colleagues are kind of betwixt in between, too. So we, of course, are going to try to sort it all out right now. Sudip Reddy is at MS now. Kate Davidson's at Bloomberg. Hey, you too. |
| 1:28.4 | Hey, Kai. |
| 1:30.3 | Sudip, we're going to start with you and we'll go to the nuts and bolts of the meeting. The headlines |
| 1:35.3 | already everybody has seen. Anything that the chair said that was surprising to you in that meeting? |
| 1:43.8 | Well, what, he was very clear that this is a difficult path they're on right now. |
| 1:51.3 | There are, there's lots of dissent, three dissents. |
| 1:53.8 | That's a pretty big deal most since 2019. |
| 1:56.7 | And there's a reason there are all these dissents because it's really hard to tell what's going to |
| 2:01.5 | happen with inflation. It has been stubbornly high. That's been quite clear. It's in everybody's minds |
| 2:07.7 | these days. And there's lots of concern that he was articulating about the job market. And you don't |
| 2:13.6 | know whether that those numbers are going to be on a downward path, whether |
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