DeepSummary
The podcast episode begins with the hosts, Darian Woods, Erica Barris, and Mary Childs, introducing the segment called 'Indicators of the Week.' Mary Childs presents her indicator, which is the surprising fact that the United States imported more goods from Mexico than China in 2022, marking the first time in 20 years that this has occurred. She attributes this shift to factors such as increased tariffs on Chinese goods and companies routing goods through other countries to avoid tariffs.
Darian Woods then discusses his indicator, which is the 60% decline in the share price of New York Community Bancorp after a rough earnings call. The bank reported taking losses on an office building and an apartment complex it had provided loans for, and it was building a larger financial buffer in case of further trouble. This situation is indicative of the broader issues facing the commercial real estate sector, particularly with office buildings impacted by remote work trends.
Erica Barris introduces her indicator, which is the $7 million that advertisers are paying for Super Bowl commercials this year. She highlights the impact of Taylor Swift's presence at the game, as her boyfriend Travis Kelsey plays for the Kansas City Chiefs. This has led to a rise in female viewership and more advertising from companies targeting women, such as cosmetics brands.
Key Episodes Takeaways
- The United States imported more goods from Mexico than China in 2022, marking a significant shift in trade dynamics.
- Tariffs on Chinese goods and companies rerouting products through other countries to avoid tariffs contributed to the surge in Mexican imports.
- Regional banks like New York Community Bancorp face challenges due to losses on commercial real estate loans, particularly for office buildings impacted by remote work trends.
- Federal Reserve Chair Jerome Powell expressed confidence that potential banking sector issues would be limited to smaller regional banks.
- Taylor Swift's presence at the Super Bowl led to increased female viewership and attracted new advertisers targeting women, such as cosmetics brands.
- The episode highlights the interconnectedness of global trade, banking sector risks, and the influence of celebrity culture on consumer markets.
- Economic indicators can provide insights into broader trends and shifts in various sectors of the economy.
Top Episodes Quotes
- “So, as the researchers from that paper said last year, for China and the US, the decoupling is real.“ by Mary Childs
- “Her being there has been a ratings bump for the NFL, and female viewership has been up 29%.“ by Erica Barris
- “These are all companies that have not advertised during the Super bowl before.“ by Erica Barris
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Episode Information
The Indicator from Planet Money
NPR
2/10/24
Related Episodes:
Economics, boosternomics and Swiftnomics (Apple/Spotify)
Does the U.S. have too many banks? (Apple/Spotify)
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