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Planet Money

Planet Money

The economy explained. Imagine you could call up a friend and say, "Meet me at the bar and tell me what's going on with the economy." Now imagine that's actually a fun evening.

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28 min
Yesterday

Jerome Powell and the Future of Fed Independence

If you have a credit card, hope to buy a house, or just want stable grocery prices – let’s talk about the future of Fed independence!It’s impossibly important for the Federal Reserve to steer monetary policy without political interference – an ideal pushed to its brink during Jerome Powell’s time as Fed Chair.Powell’s Fed faced a once-in-a-century pandemic, oversaw the economy as inflation spiked to about 9 percent … went back down to nearly 2 percent … and has started to go back up as the U.S. has gone to war and continued to try and implement the most comprehensive tariffs since the early 1900s.But perhaps Powell will be best remembered as a target – of angry tweets, speeches, and ultimately a criminal investigation, by the very president who nominated him in the first place.On Powell’s last day as chair, we ask where his story fits into the sweep of history. We’ll hear from someone who was on the Fed Board when Powell was appointed … and when President Trump started to pressure Powell. Plus, we learn what to watch for to see if Fed Independence is crumbling – or holding – as a new Fed Chair nominated by President Trump takes office.Recommend Listening: - Happy Fed Independence Day - The case for Fed independence in the Nixon tapes - A primer on the Federal Reserve's independence - Trump's unprecedented attack on the Fed - Should presidents have more of a say in interest rates? - Lisa Cook and the fight for the Fed - What happens to central banks under pressure?Book info. / Subscribe to Planet Money+Listen free: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.Facebook / Instagram / TikTok / Our weekly Newsletter.This episode was hosted by Kenny Malone and Erika Beras. It was produced by Sam Yellowhorse Kesler, edited by Jess Jiang, fact-checked by Sierra Juarez, and engineered by Robert Rodriguez and Cena Loffredo. Planet Money’s executive producer is Alex Goldmark. See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences.NPR Privacy Policy

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29 min
9 May

Diary of a WNBA negotiator

Today the WNBA season tips off, but Dallas Wings veteran forward Alysha Clark has already won a high-stakes competition. She – and a Nobel Prize winning economist – were on the team that negotiated a ground-breaking contract for the players. And Alysha wrote all about it in her journal.Alysha is the oldest player in the league – and when she started she was making a yearly salary of about $36,400. The players flew economy, the rookies in middle seats. They doubled up in hotel rooms. The league was just starting out, wasn’t bringing in money, and, as Alysha says, “That's just what you got.”Jump forward to 2025 and fans are crowding into stadiums, games are on primetime TV, and the WNBA has a 3.1 billion dollar media rights deal.  So when the players’ contract came up for renewal, they had a once in a generation opportunity to change the future for all of women’s basketball. Maybe all of women's sports. Today on the show, we hear Alysha’s minute by minute account of what it’s like to be a rookie doing high-stakes bargaining. It came right down to the buzzer. Our book: Planet Money: A Guide to the Economic Forces That Shape Your Life is in stores now. Subscribe to Planet Money+Listen free: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.Facebook / Instagram / TikTok / Our weekly Newsletter.This episode was produced by Emma Peaslee and Willa Rubin. It was edited by Marianne McCune. It was fact-checked by Vito Emanuel and engineered by Jimmy Keeley and James Willets. Alex Goldmark is our executive producer.Music: NPR Source Audio - "Nights Like This," "Funk Dive," and "Tropical Heat"See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences.NPR Privacy Policy

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46 min
2 May

How to make a BOOK into a bestseller

In the world of commercial publishing, there are few crowning achievements more coveted than a place on the New York Times Best Seller List. But how does a book actually end up there? There is, of course, a playbook that publishers and authors use to try to gin up enough sales at the beginning of a new book’s life to launch it onto the list. But there is also a world of more shadowy techniques – a whole history of hacking shenanigans going back nearly a century.Today on the show, the fourth episode in our series: Planet Money sets out to make the Planet Money book a best seller, and along the way, we uncover all the outlandish strategies that people have tried to hack their way onto the New York Times Best Seller List. There will be mass hallucinations, legal exorcisms, shady book launderers, and scarlet daggers. And we learn the hard way how trying to engineer your way onto the list, just might be the thing that keeps you from getting there.Related:- “Night People's Hoax On Day People Makes Hit With Book Folks” - New York Times: “Jacqueline Susann Dead at 53; Novelist Wrote 'Valley of Dolls'”- New York Times: “Blatty Sue Times On Best-Seller List”- New York Times: “Court Bars A Suit Over Books List”- Bloomberg Businessweek: “Did Dirty Tricks Create A Best Seller?” - Episode 1: Inside a BOOK auction- Episode 2: Our BOOK vs. the global supply chain - Episode 3: BOOKstore Economics- Series: Planet Money makes a book- Laura McGrath’s new book: Middlemen: Literary Agents and the Making of American FictionOur book: Planet Money: A Guide to the Economic Forces That Shape Your Life is in stores now. Support: Planet Money+Listen free: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.Find us on Socials: Facebook / Instagram / TikTok.Our weekly Newsletter.This episode was produced by Willa Rubin. It was edited by Jess Jiang, fact-checked by Sierra Juarez, and engineered by Robert Rodriguez and Cena Loffredo. Alex Goldmark is our executive producer. Music: NPR Source Audio - "Quirky Episodes," “Dramedy Scheme,” "Unforeseen Consequences,” and “Impractical Jokes.” See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences.NPR Privacy Policy

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25 min
29 Apr

Spirit Airlines and the future of cheap flights

It’s way more than fuel costs that pushed Spirit Airlines to the brink of liquidation and led President Trump to muse about “buying” them. Many low cost airlines are struggling due to a canny and calculated set of strategies from bigger airlines that we can think of as ‘revenge of the legacy carriers.’ Today on the show, we go back in time to when Spirit was riding high and pressuring the whole industry to cut costs. We talk with then-CEO Ben Baldanza about his radical vision for cheap air travel and then travel to the present day to hear how legacy airlines beat Spirit and other budget airlines at their own game. Plus, what happens to us passengers if Spirit does go away. Newsletters:Greg’s weekly deep diveThe brand new Indicator link roundupRelated Episodes: People Express and how flying got so bad (or did it?)Book: Planet Money: A Guide to the Economic Forces That Shape Your Life is in stores now. Support: Planet Money+Listen free: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.Find us on Socials: Facebook / Instagram / TikTok This episode of Planet Money was hosted by Greg Rosalsky, Jacob Goldstein, Zoe Chace and Emma Peaslee. It was produced by Emma Peaslee. It was edited by Alex Goldmark. It was fact-checked by Vito Emanuel and engineered by Jimmy Keeley. Alex Goldmark is Planet Money’s executive producer. See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences.NPR Privacy Policy

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