DeepSummary
The podcast episode begins with a discussion on inflation data, the Fed's preferred measure of inflation, the personal consumption expenditures (PCE) price index, came in at 2.6% year-on-year, which is considered a mild increase. The guests, Gina Smilich and Kathryn Rampel, analyze the implications of this data for the Federal Reserve's future interest rate decisions and the overall economic outlook.
The conversation then shifts to the Supreme Court's decision to overturn the Chevron deference, which had granted federal agencies deference in interpreting laws within their areas of expertise. The guests discuss the potential impact of this ruling on regulatory agencies, businesses, and the overall management of the economy, highlighting the increased uncertainty and litigation that may arise.
The episode also covers other economic indicators, such as GDP growth, consumer spending, and the housing market. It touches on the ongoing housing crisis, with pending home sales falling and median existing home prices expected to rise. Additionally, the episode explores the normalization of work-from-home trends and the emerging model of community paramedicine, which aims to provide preventative healthcare in rural areas.
Key Episodes Takeaways
- The Federal Reserve's preferred measure of inflation, the personal consumption expenditures (PCE) price index, came in at 2.6% year-on-year, which is considered a mild increase.
- The Supreme Court's decision to overturn the Chevron deference, which granted federal agencies deference in interpreting laws within their areas of expertise, could lead to increased uncertainty and litigation for regulatory agencies and businesses.
- The housing market is facing challenges, with pending home sales falling and median existing home prices expected to rise, contributing to the ongoing housing crisis.
- Work-from-home trends have normalized, with the Bureau of Labor Statistics reporting that 35% of employed people did some or all of their work at home in 2023.
- Community paramedicine programs, which involve paramedics regularly checking on people with known health issues, are emerging as a model to address healthcare access challenges in rural areas.
- The economic model for community paramedicine programs remains challenging due to limited reimbursement from healthcare insurers.
- The episode touches on other economic indicators, such as GDP growth and consumer spending, providing a comprehensive overview of the current economic landscape.
- The political implications of the Supreme Court's decision on agency deference are discussed, particularly in the context of the deregulatory agenda of the former Trump administration.
Top Episodes Quotes
- “The economic model for EMS based community paramedicine is very challenging.“ by Matt Zavadsky
- “I think that one of the things that they are probably pretty aware of is you are going to have, and I'm about to use a nerdy term, but then I'm going to define it, you are going to have base effects kick in pretty soon, which means that inflation came down a lot toward the end of last year. And as we lap those softer numbers on a year over year basis, so as we're comparing inflation today to inflation a year ago, it's going to look like it's going to be a little harder for inflation to keep coming down.“ by Gina Smilich
- “You know, I think, I think that, you know, obviously, I think he's probably going to take some amount of credit for the Supreme Court being the composition that it is. And this sort of having happened, I think it's been really interesting to watch recently, not just in the debate, but in a lot of his interviews as of late, President Trump, former President Trump has really emphasized that his deregulatory agenda was the thing that he thinks lifted growth in that first term to the extent the growth was lifted.“ by Gina Smilich
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Episode Information
Marketplace
Marketplace
6/28/24
Today we learned that the conservative majority on the U.S. Supreme Court upheld a local law in Oregon that criminalizes sleeping in public places, authorizing punishment for homelessness. We’ll get into how this connects to the stalled housing market. Plus, SCOTUS curtails the powers of government agencies and national work-from-home rates reach a new normal.