Everybody's Business

As the government reopens, the Trump administration introduces a new solution to the American housing crisis—the 50 year mortgage. The idea is getting hammered from the right and the left alike but gets support from at least one person: economist and Bloomberg Opinion contributor Allison Schrager. Can this new concept take some pressure off of struggling first-time homebuyers or will it be yet another white whale in an increa...

Matt Yglesias, author of the Slow Boring newsletter, sits down with Max and Stacey to discuss the recent string of Democratic victories in US elections. The most remarkable happened in New York City, where Democratic socialist Mayor-Elect Zohran Mamdani will soon be in charge of one of the global capitals of capitalism. Will Mamdani be able to go through with his ambitious agenda or will he soon realize - like many b...

Max and Stacey are joined by Leo Feler, an economist with a unique perspective on the Trump administration’s immigration and deportation policies. During a  recent renovation project, Feler’s property was raided by federal agents looking to detain workers they believed were in the country illegally. Feler recounts the dramatic incident and explains how raids like these could have a chilling effect on the US economy...

Kyla Scanlon visits the studio armed with her three most pressing indicators of the state of the economy. What do we make of all those auto loan defaults? Is Jamie Dimon’s new $3 billion “fortress” a harbinger of fundamental changes in the labor market? And why does an economically anxious population keep on spending? Lots to discuss.

Max and Stacey also sit down with David Papadopoulos to talk about the forthcomi...

Make sense of the world with one essential conversation, every week. Mishal Husain, one of Britain's best interviewers, brings her signature blend of curiosity and tenacity to weekly conversations with world leaders, business titans, and cultural icons, revealing who they really are and how they see the world changing around them.

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This week we hear from Domer - a longtime prediction markets junky who has placed more than $400 million worth of bets using Polymarket. At any point he might have 1,000 or more bets on prediction market sites, ranging from wagers of a few thousand dollars to as much as $1 million, roughly the sum he put on Taylor Swift’s new album sales.

Plus, Bloomberg Businessweek columnist Amanda Mull...

Polymarket is a strange place. You can bet on the price of Ethereum, whether Russia and Ukraine will agree to a ceasefire this year or who the next French prime minister will be. As silly as this might sound, Polymarket is worth $8 billion, according to an investment by the owner of the New York Stock Exchange.

This deal comes on the heels of the new partnership between the Chicago Mercantile Exchange and sports...

The federal government shut down on Wednesday, which in the near-term probably sounds worse than it is. Yes, 750,000 workers are expected to be furloughed and yes, certain functions including visitor centers at national monuments and the release of economic data will pause. But functions deemed “essential” are continuing: mail is still being delivered, courts are still open, airport security continues and anim...

This year came with a promising start for Argentina. Inflation seemed under control, investment was coming back, double-digit poverty was (according to the government) beginning to fall and President Javier Milei—the chainsaw wielding, leather jacket-wearing, self-described libertarian—was being hailed by supporters as a tough-love leader bringing the country’s economy back from crisis. Milei also b...

On this week’s episode of Everybody’s Business we're joined by Rohit Chopra, former director of the now largely kneecapped Consumer Financial Protection Bureau. He argues that Trump’s efforts to apply political pressure to the Fed present an opportunity to scrutinize the central bank’s decision-making. Chopra points out that the Fed’s governors, who tend to either come from academia or Wall Street...

Not that long ago the US economy was wrestling with an interesting problem: jobs data looked very strong with historically low unemployment and historically low firings, but people didn’t feel good about the economy. The dissonance became known as the “vibecession” and was the topic of many economic and policy debates. The question was: Why do people feel bad about the economy when th...

This week we are joined by journalist and cultural commentator Sam Sanders, of the Sam Sanders Show, to unpack the lessons Hollywood is learning from its latest unexpected success: mega-viral sensation Kpop Demon Hunter. We discuss how Sony lost out on much of the movie's profits when it signed over the rights to Netflix–though arguably helped preserve its business during the Covid downturn by doing so–and how the ...

What does it say about the prospects for an artificial intelligence “golden age” that some of those who most enthusiastically predicted it are now tamping down expectations? Earlier this week, in what looked like damage control over the release of a new version of ChatGPT, OpenAI Chief Executive Officer Sam Altman said investors have been inflating a speculative bubble in AI. He predicted “someone’s going to...

Donald Trump has been back at the White House for little more than 6 months, but his mark on the US economy has been profound. If Adam Smith’s “invisible hand” was a symbol of the unfettered free market, the Republican president’s approach should perhaps be described as very hands on. This week on Everybody’s Business from Bloomberg Businessweek, Max Chafkin and Stacey Vanek Smith explore som...

Donald Trump’s decision to fire the commissioner of the Bureau of Labor Statistics, Erika McEntarfer, apparently in retribution for a report that showed slower job growth, was without precedent in recent US history. This week on Everybody’s Business we explore why presidents—at least since Richard Nixon—have left the BLS alone, and we hear from former BLS commissioner Erica Groshen on how exactly that d...

It was a packed week for the US economy: jobs numbers, an interest rate announcement from Federal Reserve Chair Jerome Powell, consumer confidence data and a tariff deadline. Topping the list was gross domestic product, the sum total of goods and services the economy produces—generally considered the measure of growth. After months of tariffs (and Donald Trump’s constantly shifting positions on them), many economis...

After 10 years, CBS announced it was cancelling Stephen Colbert’s Late Show. This coincidentally came on the heels of his humorous excoriation of parent company Paramount’s $16 million deal with President Donald Trump over what the Republican claimed was bias in the editing of an interview with then-Vice President Kamala Harris. CBS journalists denied the allegation and legal experts said Trump’s claim was de...

On the morning of July 16, a White House official told Bloomberg News that President Donald Trump was preparing to fire Federal Reserve Chairman Jerome Powell. Such a firing would potentially be illegal (as the Supreme Court recently noted) and undermine decades of goodwill that Fed policymakers have built up with investors. Trump quickly took the threat back, while making it clear he might still try to dismiss Powell, os...