The Indicator from Planet Money

If you want to make Bitcoin, you need powerful computers and a lot of energy. Well, it turns out the same infrastructure needed for Bitcoin mining is pretty valuable in the era of AI. Today on the show, why some miners are starting to throw in the towel on crypto in favor of supporting AI infrastructure.  Related episodes:  Whose financing Meta’s massive AI Data Center? This indicator hasn’t flash...

Federal Reserve is meeting to make its interest rate decision after the government shutdown delayed key economic data. Today on the show, we talk to the former Vice Chair of the Fed, Lael Brainard, about what she would do with interest rates in this critical yet foggy economic moment. Related episodes:  A little doomsday feeling is weighing on the economy Can ... we still trust the monthly jobs re...

In November, the U.S. stopped production of the humble penny after 232 years in circulation. On today’s show, a former U.S. Mint director shares the fiscal math that doomed the penny, and an artist pay tribute to this American icon.  View more of Robert Wechsler’s artwork here . Related episodes:  What’s the deal with the platinum coin?    For sponsor-free episodes of The Indicator from Planet Mon...

It’s … Indicators of the Week! Our weekly look at some of the most fascinating economic numbers from the news.  On today’s episode: A big goshDRAM memory problem, a holiday spending mystery, and apartment rental prices … decline?!  Related episodes:  The highs and lows of US rents   Taking the temperature of the US consumer   We Buy A Lot Of Christmas Trees For sponsor-free episodes of The Indicat...

It is a special edition of the Beigies Awards where one regional Federal Reserve Bank will receive lifetime achievement recognition. Today on the show, we speak to its President about the value of economic anecdotes. Related episodes:  What keeps a Fed president up at night Using anecdotes to predict recessions For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money...

Sanae Takaichi was sworn in as Japan’s first female prime minister a little over a month ago, and she’s already making waves in the East and West. The first priority for the people of Japan is if her government can fix the country’s cost-of-living problem. Today on the show, we break down what Sanaeonomics could mean for the Land of the Rising Sun. Related episodes How Japan is trying to solve the...

Tariffs are bringing in some serious cash into the US Treasury’s pocket. The problem with that money is that it may need to be refunded. A case in front of the Supreme Court could declare several of Trump’s tariffs illegal, which would prompt a return of billions of dollars. Today on the show, we look at how that would work and why the process will likely not be easy.  Related episodes:  Three way...

Why can't the US be like Europe, Japan or India—countries that all have extensive passenger train systems? On today's show, why the US chose not to. We learn why, despite this, US railroads could still be worth bragging about. Related episodes:  What happens when railroads get hitched How three letters reinvented the railroad business For sponsor-free episodes of The Indicator from Planet Money, s...

Public sector economics is a fundamental piece of the discipline. So we wanted to give our hosts an opportunity to put their knowledge to the test in a game we’re calling Indicator Quizbowl. Today on the show, Wailin and Darian go head to head to see who the bigger public policy nerd is. Related episodes:  Could cash payments ease recessions? A trap-loving DJ takes on economics For sponsor-free ep...

In a rural pocket of northeastern Louisiana, Meta is building a $30 billion data center called Hyperion. But it’s not being completely financed with Meta’s own money. Today on the show, the opaque system of AI data center financing and why it’s fueling fears of a bubble.  Related episodes:  OpenAI’s deals are looking a little frothy   No AI data centers in my backyard!   What $10B in data centers...

President Trump has said he’d try to get more Argentine beef into the U.S. So who would actually do the buying? That’s a general theme with a lot of these trade deals — big numbers but vague details. When China says it’ll buy more soybeans, is it the government or companies that does the buying? When South Korea promises to invest in American shipyards, who’s actually doing that?  Today on the sho...

It’s … Indicators of the Week! Our weekly look at some of the most fascinating economic numbers from the news.  On today’s episode: the effects of pay transparency , Meta’s big win, and freaky flies and beef.  Related episodes:  Are we entering a new dawn for antitrust enforcement?   Why beef prices are so high   For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Mon...

When people lose their homes to wildfire, hurricanes or flooding, they're eager to rebuild. But scammers are also ready to take advantage. On today’s show, the lucrative business of contractor fraud and advice on how to avoid them.  Related episodes: An indicator lost: Big disaster costs   When insurers can’t get insurance   Selling safety in the fight against wildfires   For sponsor-free episodes...

Foreign automakers already have huge assembly plants in the U.S., but lots of parts and materials come from overseas.  To avoid costly tariffs, they gotta buy American. But … How does one meet those suppliers? How do you build a new relationship with them? The answer: Speed dating.  Related episodes:   The old trade war that brought foreign carmakers to the U.S. Tariffs: What are they good for? Fo...

The U.S. labor market is stagnant right now, with little hiring and lots of people holding onto their jobs for dear life. In Denmark, there’s a different kind of labor system where it’s easy for employers to hire and fire, but at the same time people have a strong safety net in-between jobs. Today on the show, we learn how “flexicurity” works through the story of a Danish woman who left her job, a...

Ever put in the winning bid for something on an auction site only to realize you significantly overpaid? Yeah, there’s a phrase for that. On today’s show: the winner’s curse. Richard Thaler’s new book with Alex O. Imas is The Winner’s Curse: Behavioral Economics Anomalies, Then and Now . Read Planet Money’s newsletter on the winner’s curse .  For sponsor-free episodes of The Indicator from Planet...

It’s … Indicators of the Week! We look at some of the most fascinating economic numbers from the news and bring them to you. On today’s episode: The cost of living is outstripping wage growth for most of us, the math behind the Trump administration’s proposed 50-year mortgages, and how we’re just giving Uber and Lyft free money .  Related episodes:  Trump's plans for the housing market   The Money...

The U.S. is committed to bailing out Argentina to the tune of $20 billion using a little known mechanism called the Exchange Stabilization Fund. On today’s show, what is this fund, why was it created and does Argentina have any hope of paying it back?  Related episodes:  Dollarizing Argentina    For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podc...

The U.S. Supreme Court may soon rule on President Trump’s favorite tariff law.  It could render them moot, but that doesn’t mean the end of tariffs. On today’s show, we explain the president’s back-up options for imposing tariffs. Related episodes:  Are Trump’s tariffs legal?   Worst. Tariffs. Ever.    Three ways companies are getting around tariffs     For sponsor-free episodes of The Indicator f...

The World Cup is coming up, and it’s going to cost a pretty penny if you are hoping to attend. Today on the show, we talk to NPR Senior Business editor and World Cup superfan about why the 2026 World Cup will likely be the most expensive in history and why even finding a ticket is more difficult.  Related episodes:   Peacock, potassium and other Paris Olympics Indicators Why the Olympics cost so m...

France has one of the most generous pension systems in the world. But several governments there have collapsed over questions about how the government will fund it. All over the world, aging populations are forcing governments to rethink their assumptions.  Today on the show, what France’s political fiascos teach all of us about the economics of an aging population, and what a retirement expert’s...

There’s one job that gets all the attention during a government shutdown: air traffic controllers. Today on the show, we spotlight why this job has taken on outsize political influence and one controller’s experience during the longest shutdown on record.  For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org . Fact-checking...

The “Shiller PE Ratio” is at its highest level since November of 1999. That was at the peak of the online gold rush right before the dot com bubble burst in 2000. Today on the show, we learn what the Shiller PE Ratio is, how it works and whether we should be worried that it’s relatively high right now. You can find John Campbell's book here: Fixed: Why Personal Finance is Broken and How to Make It...

Russia’s been subject to more than 5,000 sanctions since its invasion of Ukraine. Yet many purported allies of Ukraine are still getting Russian oil — directly or indirectly. On today’s show, how governments are straddling the fence and skirting their own sanctions.  Related episodes:   How the ‘shadow fleet’ helps Russia skirt sanctions   For sponsor-free episodes of The Indicator from Planet Mon...

Last month, the Trump administration asked Apple to remove an app from its App Store that crowdsourced sightings of Immigration and Customs Enforcement agents. Today on the show, we explain what an ongoing legal battle involving the developer of the video game Fortnite has to do with Apple’s latest move to comply with the Trump administration. Related episodes:  How Fortnite brought Google to its...