Economic check-in: Stocks surge, consumers wary, Fed Chair pick
Consumer sentiment has reached a new low. Will a potential change in leadership at the Federal Reserve finally tame inflation? Plus, the latest from Wall Street.
Listen 43:41
Screens display financial information on the floor at the New York Stock Exchange in New York, Tuesday, March 31, 2026. (AP Photo/Seth Wenig)
Stubborn inflation has dogged the U.S. economy for years now. Americans are paying more for groceries, housing, healthcare, and a war in the middle east hasn’t exactly helped. Up until very recently, supply chain disruptions sent gas and fuel prices soaring. All of this may be contributing to consumer sentiment reaching an all time low last week, according to a long-running University of Michigan survey.
So are Americans right to be glum about the economy? Are we headed towards a recession or is this a temporary discomfort? President Donald Trump has waved away economic concerns, pointing to a thriving stock market and continues to call for interest rate cuts. And if his nominee for Federal Reserve chair gets the green light in tomorrow’s Senate Banking Committee hearing, he just might get them. So who is President Trump’s pick to lead the central bank? And what might new leadership mean for inflation and the economy?
Guests:
Lydia DePillis, economics reporter for the New York Times
Patrick Harker, Former President of the Federal Reserve Bank of Philadelphia and professor at The Wharton School
WHYY is your source for fact-based, in-depth journalism and information. As a nonprofit organization, we rely on financial support from readers like you. Please give today.
Brought to you by Studio 2
Trump child savings accounts: What they are, who they can help and their impact on wealth inequality
Trump Accounts — or 530A investment accounts — stem from a concept called “baby bonds,” which the creators hoped would reduce the racial wealth gap.
2 months ago
Listen 2:02
U.S. Mint in Philadelphia to press final penny as the 1-cent coin gets canceled
The U.S. Mint has been making pennies in Philadelphia, the nation’s birthplace, since 1793, a year after Congress passed the Coinage Act.
6 months ago
More than 350 grants worth over $800 million were ended midstream. New Jersey's attorney general said nearly $13 million in ongoing program funding to the state was canceled.
1 year ago