The Indicator from Planet Money

Economic decisions aren’t only driven by hard data. A compelling story can change economic behavior and outcomes. In today’s episode, we explore real-world examples of “narrative economics” like how the Suez Canal ended up getting built. And we ask: why do narratives sometimes matter more than truth or data?  Related episodes:  This indicator hasn’t flashed this red since the dot-com bubble   Tari...

Over the weekend, Federal Reserve Chair Jerome Powell said the Department of Justice served the Fed with grand jury subpoenas. Powell says it’s all a sham. But the stakes are unprecedented: A potential criminal indictment. Central bank independence. Today on the show, the administration’s case against the Fed. How did we get here? And what comes next? Related episodes:  Lisa Cook and the fight for...

While Americans are known for their generosity, the U.S. government, increasingly, is not. The Trump administration’s cuts to SNAP benefits among other aid programs have forced states, foundations and donors to fill the gaps. But can they? On today’s show, the limits of philanthropic efforts to supplant federal aid.  Related episodes:  Why tech bros are trying to give away all their money (kind of...

Karissa Tang is a 17-year-old in California who got curious about the impact of AI on typical teen jobs like cashiers and fast food counter workers. She embarked on an ambitious economic research project and shares her findings with us. Related episodes:  How much is AI actually affecting the workforce? AI creates, transforms and destroys... jobs When does youth employment become child labor? For...

President Trump claims Venezuela stole American oil. Is that true? We trace Venezuela's oil industry from its 1920s birth through nationalization and then collapse. Today on the show, how did the Venezuelan oil industry get to a point where it’s barely pulling from its reserves? And will anything change now?  Related episodes:  Venezuela’s economic descent (Update)   Venezuela’s recent economic hi...

When you're in a grocery store nowadays, chances are your data is being collected. From a swipe of the loyalty card to the purchase of an ice cream pint, your data tells stores what you like, how much they should stock, and more.  But what if that data meant a grocer could charge you a different price than another shopper? On today's show, the evolving price tag.   Related episodes: Should 'survei...

Former Venezuelan leader, Nicolás Maduro, appeared in a New York court yesterday. He’s facing drug-trafficking and weapons charges after the U.S. abducted him and his wife in an explosive operation over the weekend. But is there any credibility to the drug-trafficking accusations? And what does the cocaine supply chain look like in 2026? Today on the show, tracing cocaine’s journey from the Andes...

Japan’s new prime minister Sanae Takaichi made waves last fall after saying her country might intervene if China invaded Taiwan. In response, China launched state-organized boycotts against Japan — canceling concerts, restricting seafood imports, and even recalling pandas. Today on the show, what does it look like for a state to organize a boycott, and does it work?  Related episodes: How Japan’s...

At The Indicator, we’ve been following the conditions in Venezuela over the years. In 2024 we covered how Venezuela’s economy went into freefall, and have been checking in with an economist there frequently — including after the U.S. attacked over the weekend, deposing its leader Nicolás Maduro. On today’s show, we’re revisiting our episode about Venezuela’s economy, and hear from our contact in C...

2025 is finally over.  We had bad consumer sentiment vibes, tariffs, and a seemingly ascendant stock market. And those are just a few indicators from last year!   As we enter 2026, what indicators should we keep an eye on … in the future? On today’s episode, our top indicator predictions for the new year. Related: What AI data centers are doing to your electric bill Tariffs. Consumer sentiment. Ca...

Americans are moving at record lows for work. What’s driving people to, well, not drive cross-country for jobs? On today’s episode, we explore the rising homebody economy.  This episode originally aired Oct. 3, 2025.  Related episodes:  Why moms are leaving their paid jobs   How the end of Roe is reshaping the medical workforce   For sponsor-free episodes of The Indicator from Planet Money, subscr...

To hear President Trump tell it, the late 1800s, i.e. the Gilded Age, were a period of unparalleled wealth and prosperity in the U.S. But this era was also marked by corruption and wealth inequality. Sound familiar? On today's show, is history repeating itself? This episode originally aired June 5, 2025.   Related: Trump's tariff role model   For sponsor-free episodes of The Indicator from Planet...

Seasons greetings from the The Indicator! On today's show, the story of a man who started buying and selling stocks as a hobby — and got seriously addicted. We also speak with a neuroeconomist about the human brain on day trading.  This piece originally aired Jan. 25, 2025.  Related episodes:  The young trolls of Wall Street are growing up   Invest like a Congress member   For sponsor-free episode...

Many men in the U.S. feel like they're not doing as well as their fathers. But what does the data say? This episode, we're sharing an extended conversation between Darian Woods and Richard Reeves, the president of the American Institute for Boys and Men. They discuss what's really going on with men's wages. Richard also argues economic and cultural changes are needed to address the struggles uniqu...

For the next week, we're running some of our favorite shows from this year. On today's show, a brief history of Nintendo and how a small playing card company in Japan became a gaming juggernaut.  This piece originally aired June 16, 2025. Related episodes:   Inside video game economics    Forever games: the economics of the live service model   The boom and bust of esports   For sponsor-free episo...

Happy Holidays from The Indicator! For the next week, we're running some of our favorite shows from this year. On today's show, why celebrities are increasingly investing in their own brands. This piece originally aired August 14, 2025. Related episodes: The celebrity crypto nexus The Olympian to influencer pipeline ( Apple  /  Spotify ) For sponsor-free episodes of The Indicator from Planet Money...

As Warren Buffett aged, he became a different sort of figure. He transformed from short-term investor into long-term builder. He used Berkshire Hathaway to start buying companies and build an empire. Today on the show, how did Buffett’s fame become an investment tool and how did he handle the biggest crisis of his career?  Related episodes:  Planet Money Summer School 2: Index Funds & The Bet Bril...

With an unprecedented decades-long run of success, Warren Buffett is retiring on December 31, 2025. Buffett’s turning point began with the acquisition of a failing textile mill called Berkshire Hathaway. What began as a “terrible mistake” became the foundation for his empire. Today on the show, how did Buffett become this legendary figure?  Related episodes:  Planet Money Summer School 2: Index Fu...

2025 was a wild year for the U.S. economy. Tariffs transformed the global economy, consumer sentiment hit near-historic lows, and the stock market hit scary, spooky, blood-curdling new heights! So … which of these economic stories defined the year?  Our hosts from Planet Money and The Indicator duke it out during our annual … Family Feud! Tell us who you think has THE indicator of the year by emai...

After a firehose of economic news in 2025, we wanted to check back on some of the people we’ve heard from on our show. Today, we check in with a former federal employee caught in the Trump administration's wood chipper, a Louisiana shrimper on Trump’s tariffs and an update on a financial aid scam. Related episodes:  Why do shrimpers like tariffs?   What’s the long-term cost of federal layoffs?   A...

Absent a holiday miracle, premium subsidies for the Affordable Care Act are set to expire at the end of this year. This will greatly increase the cost of health insurance for many who rely on the marketplace for their coverage. Today on the show, we are visited by the ghosts of Obamacare past, present and future to learn what’s next for this landmark healthcare legislation. Related episodes:  Is O...

The One Big Beautiful Bill Act made a lot of changes to the federal student loan system. One of those changes put a new cap on the amount of loans students in graduate school can take on. Today on the show, we explain the theory behind this change and how it could impact the broader labor market going forward. Related episodes:  The Market For Student Loans Here's why Black students are defaulting...

Cities like Austin and Atlanta used to top lists of places people moved to looking for relatively affordable places to live. Until, one day, they weren’t that affordable. On today’s show, how a low cost of living is threatened by growth, and how one sunbelt city in Alabama is planning ahead.  Related episodes:  Why Americans don’t want to move for jobs anymore   How to build abundantly   How big i...

It’s … Indicators of the Week! Our weekly look at some of the most fascinating economic numbers from the news.  On today’s episode: Nvidia chips OK’d for China, a sticky frozen Russian asset situation, and a lot of you seem to be stealing from self-checkout.  Related episodes:  The tower of NVIDIA  How to get Russia to pay Ukraine   Why the U.S. cut China off from advanced chips For sponsor-free e...

You may be familiar with the AI-fueled stock market boom. Well, former International Monetary Fund Chief Economist Gita Gopinath warns it could mirror the dot-com boom of the late 1990s. But worse. She calculates a similar crash could erase $35 trillion in global wealth . Today on the show, what would that mean for the US and global economies?  Related episodes:  This indicator hasn’t flashed this...