What a time to be making monetary policy
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 1 October 2025
⏱️ 9 minutes
🧾️ Download transcript
Summary
Markets are having to digest a lot right now. There's the government shutdown, plus new private payroll data showing the economy lost jobs in September. Susan Schmidt, portfolio manager at Exchange Capital Resources, joins us to break it down. Also on the show: the FAFSA portal is open. We look at what's different with this year's federal student aid applications and how the government shutdown could impact the process. Then, Marketplace's Sabri Ben-Achour continues his conversation with Susan M. Collins, head of the Federal Reserve Bank of Boston.
Transcript
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| 0:00.0 | Hello, listeners. Marketplace's Webby-winning Kids podcast, Million Bazillion, is back for an all-new season. |
| 0:07.2 | Hosts Bridget and Ryan are answering a whole new set of kid questions about everything from royalties and franchises to why the heck we have a $2 bill. |
| 0:17.0 | Even grownups might learn a thing or two. |
| 0:19.6 | Million Bazillion is presented in partnership with Greenlight, the debit card and money app for kids and teens. |
| 0:25.7 | Give your family the tools to manage money wisely with Greenlight. |
| 0:29.5 | Learn more at greenlight.com slash million. |
| 0:33.0 | And tune in to Million bazillion wherever you find your favorite podcasts. |
| 0:38.6 | There are signs the economy lost jobs last month. |
| 0:44.1 | From Marketplace, I'm Sabrina Beneshaw in for David Brancaccio. |
| 0:47.3 | Markets are having to digest a lot right now. |
| 0:50.0 | There's the government shutdown. |
| 0:51.3 | There's also new private payroll data showing the economy lost |
| 0:54.9 | jobs in September. Susan Schmidt is here to talk about it. She's portfolio manager at Exchange |
| 0:59.6 | Capital Resources. Hi, Susan. Good morning. So markets look like they maybe care a little about |
| 1:05.8 | the shutdown, but not a lot. Why or why not? Market moves happen when markets are surprised. Investors hate surprises. That's when you see a big |
| 1:15.7 | reaction. We're not getting that today because this shutdown has been very well communicated |
| 1:19.9 | and talked about over the last couple weeks. Investors have been expecting that. |
| 1:23.9 | Speaking of the shutdown, that means we are not going to get some pretty important |
| 1:27.4 | government data this week, but ADP is a company that processes payrolls for companies. |
| 1:33.5 | They look at their data on 26 million workers, and they estimate that in September the U.S. actually lost 32,000 jobs. |
| 1:41.7 | What do we think of that? |
| 1:42.9 | Well, that's something markets will pay attention to, |
... |
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