How much power does the Fed really have?
Summary
Marketplace examines persistent inflation driven by supply chain issues beyond the Fed's control, leading to waning consumer confidence. The episode explores how AI-induced job losses might necessitate a shift from labor to consumption taxes, citing Arizona’s past sale of its capitol building. Additional segments cover volatile durable goods orders, the centennial of Route 66, and the Gila River Indian Community’s water conservation efforts amid Colorado River drought.
Topics discussed
Intro and Sentry Insurance ad
Inflation data and Fed's limited tools
Consumer confidence and K-shaped economy
AI, tax revenue, and consumption taxes
Market numbers and sponsor ads
Durable goods orders and trucking volatility
Route 66 centennial and Blue Swallow Motel
Colorado River drought and tribal water rights
Vietnam trade surplus and listener survey
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