In case you forgot, President Trump's tariffs had one goal: narrow the U.S. trade deficit. Compare March ‘25 to March ‘26, and the deficit has shrunk by half. But from February to March of this year, it actually widened — exports rose, while imports rose even more. In this episode, what’s driving all that economic activity? (Hint, it’s not tariffs.) Plus: 30-year Treasury yields top 5%, home remodeling is projected to slow in 2027, and we visit a job fair in Philadelphia.

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We’ve said from the get-go that consumers paid the bulk of President Trump’s tariffs. Now that most were ruled illegal, individual businesses will get to decide whether to pass those tariff refunds onto customers. And any litigation of those decisions could take a while. Also in this episode: What’s next for the airline industry sans Spirit, why GameStop wants to buy eBay, and how states could claw back some tax dollars.

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Bad news for your next smartphone purchase: An extended memory chip crunch is upon us, warns Apple CEO Tim Cook. New artificial intelligence projects are outspending the consumer electronics sector on memory, and manufacturers have limited output capacity. Retailers will likely pass those higher costs onto consumers. Also in this episode: A retiree focuses on charitable giving, specialty movie ticket prices climb to $50, and America’s biggest energy port benefits from the Middle East oil tie-up.

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U.S. gross domestic product grew by 2% in the first three months of 2026. (It’s a stark improvement to the final quarter of 2025, which saw GDP growth of just 0.5%.) Experts agree massive investment in artificial intelligence is the main driver of that growth. But what does that mean for the rest of the economy? Also in this episode: Financial market predictions fall short of real-life crude oil costs, airlines face an aircraft technician shortage, and social media is in the midst of a bean craze.

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Wednesday marked Jerome Powell’s final FOMC meeting as chair of the Federal Reserve. Central bank leaders held rates steady this week, though with the most dissenting votes in over 30 years. Powell also announced his intent to stay on as a Fed governor — the first chair to do so since 1948. In this episode, we recap Powell’s tenure as head of the Fed and unpack his latest press conference. Plus: Companies issue more corporate debt, Taco Bell outperforms sales expectations, and AI spawns new cybersecurity headaches.

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Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

The U.S. Federal Reserve meets this week — so do central banks in Japan, England, Canada, and the European Union. Most will keep rates unchanged for now, as war in the Middle East shakes up the global status quo. But as other banks weigh imminent rate hikes, the U.S. may move in the opposite direction. More on why in today’s episode. Plus: Consumer sentiment crept up in April, Medicaid cuts slash pediatric care options, and five Big Tech firms post earnings this week.

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Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

It’s been a trend for a year now — home prices are up even though demand is sluggish. As Americans face growing economic uncertainty and rising costs, many are staying put. So why won’t home prices cool off? We’ll explain. Also in this episode: Tighter budgets mean fewer orders at Domino’s, air taxis take to the sky in New York City, and banks fret over new stablecoin legislation.

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Companies are using AI tools more every day. Some, like Meta, are even encouraging employees to use as many AI tokens as possible. But companies also spending more to access the technology — most AI firms bill per token, and those costs add up. In this episode, there’s no such thing as free AI. Plus: Procter & Gamble posts strong earnings, Kai visits LA’s first women’s sports bar, and we discuss the latest Federal Reserve news.

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Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.