Theme of the day: Uncertainty
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 3 February 2025
⏱️ 28 minutes
🧾️ Download transcript
Summary
Between President Trump’s changeable policy plans and sticky inflation in some sectors, everyone participating in this economy is, in a word, uncertain. In this episode, we hear how manufacturers, importers and consumers are dealing with that uneasy feeling and get some perspective from Chicago Federal Reserve Bank President Austan Goolsbee. Plus, the new Department of Government Efficiency, led by Elon Musk, has unprecedented access to the Treasury’s chief payment system. Should we be worried?
Transcript
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| 0:58.3 | Honestly, the only thing that's economically certain right now is the uncertainty. |
| 1:05.0 | From American public media, this is Marketplace. |
| 1:09.8 | Music media. This is Marketplace. |
| 1:24.0 | In Los Angeles, I'm Kyle Rizzdall. It is Monday today. This is the third of February. |
| 1:29.6 | It is always to have you along, everybody. We probe only rarely into the financial plumbing of this economy, mostly because it just works. Invoices are honored, checks are cut, |
| 1:36.3 | and obligations are paid. But the news over the weekend that Elon Musk has gotten some degree |
| 1:41.9 | of control over a critical Treasury Department |
| 1:44.3 | payment system does warrant alarm. |
| 1:46.9 | We've called Wendy Edelberg. |
| 1:48.4 | She's a senior fellow in Economic Studies at the Brookings Institution to get a sense of |
| 1:52.0 | exactly how much alarm is warranted. |
| 1:55.0 | Wendy, it's good to talk to you again. |
| 1:56.6 | I'm happy to be with you, Kai. |
| 1:57.9 | The Bureau of the Fiscal Service. |
| 2:00.1 | What, just so everybody understands, does it do? |
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