Make Me Smart

Following a weaker than expected jobs report today, President Trump said he’ll fire the head of the Bureau of Labor Statistics, claiming the data was rigged. It’s an unprecedented move with potentially enormous consequences for our understanding of the U.S. economy. We’ll explain. And, we’ll get into how Trump’s tariffs are destabilizing economies across globe. Plus, we’ll weigh in on tariff “rebates” and pricier desserts during a round of Half Full/Half Empty! Here’s everything we talked about today: * "The full list of Trump’s tariffs – from India to Taiwan" [https://www.theguardian.com/us-news/2025/aug/01/full-list-tariffs-country-rate-donald-trump-executive-order] from The Guardian  * "‘There’s no work now, just debt’: Cambodian garment workers face precarious future as US tariffs loom" [https://www.theguardian.com/global-development/2025/jul/31/theres-no-work-now-just-debt-cambodian-garment-workers-face-precarious-future-as-us-tariffs-loom] from The Guardian  * "Tariffs Bring Disaster In Lesotho, the Country That Trump Says Nobody’s Heard Of" [https://www.wsj.com/world/africa/lesotho-tariffs-state-of-disaster-87c17f46?mod=hp_lead_pos9] from The Wall Street Journal  * "85 percent of parents worry about tariffs affecting back-to-school cost: Survey" [https://thehill.com/homenews/education/5432718-tariffs-rising-prices-back-to-school/] from The Hill  * "Trump fires commissioner of labor statistics after weaker-than-expected jobs figures slam markets" [https://www.cnbc.com/2025/08/01/trump-erika-mcentarfer-jobs-report-fired.html] from CNBC * "Big Downward Jobs Revisions Could Be a Warning Sign for the Economy" [https://www.nytimes.com/2025/08/01/business/economy/jobs-report-revisions-us-economy.html?partner=slack&smid=sl-share] The New York Times * "Private equity tees up to invest in youth sports" [https://www.marketplace.org/story/2025/07/31/why-private-equity-is-warming-up-to-youth-sports] from Marketplace * "NYC’s Luxury Dessert Scene Is Booming and Higher Priced Than Ever" [https://ny.eater.com/dining-out-in-ny/401308/nyc-restaurants-dessert-prices-le-chene-zimmis-cafe-carmellini-large-format] from Eater * "Subscription-based children's magazines are revitalizing the genre" [https://www.marketplace.org/story/2025/07/29/subscription-based-childrens-magazines-are-having-a-moment] from Marketplace * "GOP senators reject Trump’s pitch to use tariff revenue for ‘rebates’" [https://www.washingtonpost.com/business/2025/07/31/trump-tariff-rebate-plan/] from The Washington Post We love hearing from you. Leave us a voicemail at 508-U-B-SMART or email makemesmart@marketplace.org.

The Federal Reserve left its benchmark interest rate unchanged after meeting yesterday, despite repeated pressures from President Trump to cut rates. But not everyone at the Fed was happy about it. On the show today, Marketplace’s Nancy Marshall-Genzer joins Kimberly to fill us in on the recent debate over lowering interest rates and the political tension surrounding the Fed. Plus, thriving raspberry bushes make us smile. Here’s everything we talked about today: * "The Federal Reserve leaves interest rates unchanged" [https://www.marketplace.org/episode/2025/07/31/divided-fed-leaves-interest-rates-unchanged#the-fed-holds-steady-on-interest-rates] from Marketplace  * "Fed's Powell sticks with patient approach to rate cuts, brushing off Trump's demands" [https://apnews.com/article/federal-reserve-powell-trump-rates-99d90bab1ba2faa0fc5d4a6106125da7] from AP News * "Could Trump use Fed HQ renovations as a pretext to fire Powell?" [https://www.marketplace.org/story/2025/07/17/could-trump-weaponize-fed-hq-renovation-to-oust-powell] from Marketplace  * "What’s Holding Trump Back From Firing Powell" [https://www.theatlantic.com/economy/archive/2025/07/trump-jerome-powell/683708/] from The Atlantic We love hearing from you. Leave us a voicemail at 508-U-B-SMART or email makemesmart@marketplace.org.

The United Nations this week warned [https://news.un.org/en/story/2025/07/1165517] that “widespread starvation, malnutrition and disease” are contributing to a rise in hunger-related deaths across the Gaza Strip. This comes as the flow of aid into Gaza has slowed in recent months and the price of food has increased drastically. On the show today, Reema shares what life looks like for her family there right now. And, we’ll get into the growing international pressure on Israel to lift barriers that organizations have faced in delivering aid. Here’s everything we talked about today: * "In Gaza, mounting evidence of famine and widespread starvation" [https://news.un.org/en/story/2025/07/1165517] from UN News * "How Food Supplies in Gaza Have Dwindled Under the New Israeli Aid Plan" [https://www.wsj.com/world/middle-east/gaza-palestine-food-aid-e74c68de?mod=Searchresults_pos5&page=1] from The Wall Street Journal  * "The Gaza Humanitarian Foundation Can Feed Starving Gazans" [https://www.wsj.com/opinion/the-gaza-humanitarian-foundation-can-feed-starving-gazans-ed5a9ff7?mod=Searchresults_pos11&page=1] from The Wall Street Journal  * "What’s Happening in Gaza? FAQ: Hunger and Humanitarian Aid" [https://www.wfpusa.org/news/whats-happening-gaza-faq-hunger-humanitarian-aid/] from World Food Program USA * "A famine hasn't been declared in Gaza, but that may not matter, experts say" [https://abcnews.go.com/International/famine-declared-gaza-matter-experts/story?id=124076581] from ABC News * "A conversation with Baba" [https://www.marketplace.org/episode/2024/02/01/a-conversation-with-baba] from “This Is Uncomfortable” We love hearing from you. Leave us a voicemail at 508-U-B-SMART or email makemesmart@marketplace.org.

Along with some other federal agencies, the Trump administration has attempted to gut [https://apnews.com/article/institute-museum-library-services-funding-cuts-trump-d3a236243b3a5c2b04e85d2004d1a946] the Institute of Museum and Library Services. It’s a small agency, but public libraries across the country rely on its funding. The loss of federal grants isn’t the only thing these community hubs are up against. On the show today, Sam Helmick, president of the American Library Association, explains how public library funding works, the challenges presented by the shift to digital media, and what the culture wars look like on the ground at public libraries. Later, listeners share their thoughts on the new No Tax on Tips and Overtime laws. Plus, a librarian answers the Make Me Smart question. Here’s everything we talked about today: * "The Trump Administration Is Threatening Libraries, Museums, and Other Nonprofits That Support the Arts, Humanities, and Learning" [https://www.cbpp.org/research/federal-budget/the-trump-administration-is-threatening-libraries-museums-and-other] from the Center on Budget and Policy Priorities  * "Libraries are cutting back on staff and services after Trump's order to dismantle small agency" [https://apnews.com/article/institute-museum-library-services-funding-cuts-trump-d3a236243b3a5c2b04e85d2004d1a946] from AP News * "1 big thing: Libraries' e-book battle" [https://www.axios.com/newsletters/axios-whats-next-c95ea6d0-094d-11ef-8072-e58ac6eea0e6?utm_source=chatgpt.com] from Axios * “No Tax on Tips” Is an Industry Plant" [https://www.newyorker.com/magazine/2025/08/04/no-tax-on-tips-is-an-industry-plant] from The New Yorker  We love hearing from you. Leave us a voicemail at 508-U-B-SMART or email makemesmart@marketplace.org.

Over the weekend, President Trump announced a new trade deal with the EU: 15% tariffs on most goods in exchange for the EU’s promise to purchase U.S. energy. But a court case brought by a group of small businesses could derail Trump’s tariff agenda. We’ll explain what’s at stake. Plus, a reminder to get outside and enjoy what nature has to offer. (But stay cool!) Here’s everything we talked about today: * "EU-US tariffs: five key takeaways from the trade deal" [https://www.theguardian.com/us-news/2025/jul/28/eu-us-trade-deal-tariffs-european-union-five-key-takeaways] from The Guardian * "US and EU reach tariff agreement" [https://www.marketplace.org/episode/2025/07/28/us-and-eu-reach-tariff-agreement] from “Marketplace Morning Report”  * "EU's pledge for $250 billion of US energy imports is delusional" [https://www.reuters.com/business/energy/eus-pledge-250-billion-us-energy-imports-is-delusional-2025-07-28/] from Reuters  * "Japan Expects Only 1-2% of $550 Billion US Fund to Be Investment" [https://www.bloomberg.com/news/articles/2025-07-28/japan-expects-only-1-2-of-550-billion-us-fund-to-be-investment] from Bloomberg * "Trump's economy faces historic week on interest rates, trade, jobs and more" [https://www.axios.com/2025/07/27/trump-economy-fed-tariffs-china] from Axios * "Trump's trade deals and tariffs are on the chopping block in court. What happens next" [https://www.cnbc.com/2025/07/26/trump-tariffs-trade-lawsuits.html] from CNBC * "Texas buys land for new state parks that will be developed using $1 billion voter-approved fund" [https://www.texastribune.org/2025/07/28/new-texas-state-parks-centennial-land-funding/] from The Texas Tribune  * "A 100-year-old on a bike? Yes. ‘The right to wind in your hair’" [https://www.washingtonpost.com/lifestyle/2025/07/28/cycling-without-age-bike-rickshaw/] from The Washington Post  We love hearing from you. Leave us a voicemail at 508-U-B-SMART or email makemesmart@marketplace.org.