Car dealerships always feel the fluctuations of inflation, gas prices, and interest rates. Now, tariffs are added to the mix, hitting their bottom lines at a time when consumers are wary about the future of the economy. In an industry that already contends with relatively slim margins, we'll hear how car sellers are faring. But first, we'll delve into the Federal Reserve's dilemma: worry more about the job market or price increases?
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Labor Day ends the summer travel season, right?
Summer travel is usually supposed to be a major time for the tourism industry. But this year, budget-conscious American travelers are adjusting their vacation plans. Consumers are actually taking more trips than initially anticipated, but they're tending to be shorter, less expensive, and later in the summer than usual. Plus, a new justice tech startup is using AI to simplify the criminal record expungement process in Mississippi.
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China pitches itself as the perfect business partner
From the BBC World Service: Speaking to world leaders at the Shanghai Cooperation Organization, China’s President Xi Jinping said the country wants to help steady the global economy and has pledged $280 million to support its partners. We learn more. Then, we hear how car dealerships in the U.S. are grappling with new tariff realities. Plus, Norway has agreed to buy five new British warships to boost NATO's presence in the North Atlantic and North Sea.
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Hungary shows what happens when central banks lose independence
We're continuing to follow President Donald Trump's campaign against U.S. central bank independence. His move to fire Federal Reserve Governor Lisa Cook over unproven allegations of mortgage fraud has now been challenged by a lawsuit from Cook. Fed independence has been a strength of the U.S. financial system, but what happens if that disappears? We turn to Hungary as a case study. Plus, consumers spend on tech, and we discuss the latest inflation reading.
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Are we in an AI bubble?
Much of the movement of the S&P 500 stock index is driven by just seven stocks. Known as the “Magnificent Seven,” they comprise Nvidia, Apple, Microsoft, Amazon, Meta, Alphabet, and Tesla, and are valued at around $20 trillion. Is this a bubble ready to burst? An overvaluation? Or something else entirely? But before we get to that story, we'll learn more about the first court hearing in a case that tests the Federal Reserve's independence.
In less than 10 minutes, we'll get you up to speed on all the news you missed overnight. Throughout the morning, Marketplace's David Brancaccio will bring you the latest business and economic stories you need to know to start your day. And before U.S. markets open, you'll get a global markets update from the BBC World Service in London.
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