Jan 17, 2023

Consumers curb their spending

Spencer Platt/Getty Images

As consumers rein in purchases, how will they spend, and how will businesses respond? Plus, freelancers welcome a delayed tax-reporting rule.

Segments From this episode

Why consumers are pulling back on spending

by Nancy Marshall-Genzer

Jan 17, 2023

A New York Fed survey shows consumers are cutting back. But inflation means they're paying more for the same stuff.

Consumer spending peaked over the summer and has been falling ever since, according to the Federal Reserve Bank of New York.

Spencer Platt/Getty Images

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As discretionary spending slows, retailers try to make themselves essential

by Kristin Schwab

Jan 17, 2023

Here's how one small business is adapting to the changing consumer climate.

Pricier items like furniture tend to be put on hold when households budgets are strained, said AlixPartners' Sonia Lapinsky. Above, a shopper at a Houston Ikea.

Brandon Bell/Getty Images

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What if we told you inflation was back to its target rate?

by Kai Ryssdal and Sarah Leeson

Jan 17, 2023

When we focus on recent months rather than year-on-year increases, inflation numbers look pretty good, says economist Alan Blinder.

Fed Chair Jerome Powell, above, isn't ready to declare victory over inflation yet, says economist Alan Blinder.

Photo by Samuel Corum/Getty Images

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The IRS delays a tax-reporting rule for peer-to-peer apps. Freelancers are relieved.

by Savannah Peters

Jan 17, 2023

Peer-to-peer apps have become a lifeline for small businesses. But many formerly under-the-table cash transactions now leave a digital trail.

Small businesses that use peer-to-peer payment services like Cash App or Venmo and take in more than $600 will receive a 1099 form starting next year.

Anna Webber/Getty Images for Afterpay

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With more Brits retiring early, the Bank of England warns of a shrinking workforce — and rising inflation

by Stephen Beard

Jan 17, 2023

A surge in the number of early retirees threatens to prolong inflation in the U.K.

The Bank of England, seen above, warns that a shrinking workforce and prolonged labor shortages could drive up inflation.

Ben Stansall/AFP via Getty Images

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Adventures in Housing

3 real estate agents on the cooling U.S. housing market

by Maria Hollenhorst

Jan 17, 2023

“I don’t know what this year is going to bring,” said one experienced Montana agent.

After a sizzling few years, there's a chill in the U.S. housing market, and mortgage rates have been volatile. Above, downtown Truckee, California.

Courtesy David Westall

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Music from the episode

Don't Sweat the Technique Eric B. and Rakim

Like A Star Corinne Bailey Rae

Cypress Tycho

Work Rihanna, Drake

Mystic Voyage Roy Ayers

The team

Nancy Farghalli Executive Producer

Maria Hollenhorst Producer II

Andie Corban Producer I

Sarah Leeson Producer I

Sean McHenry Director & Associate Producer II

Richard Cunningham Associate Producer I

Dylan Miettinen Associate Digital Producer

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