Jacob Goldstein

It's Janet Yellen's last week running the Federal Reserve.

On today's show, we focus on a single speech Yellen gave last year.

In the speech, Yellen lays out one of the most baffling mysteries in the American economy right now.

Also, the speech reveals a certain boldness that Yellen brought to the job. Superficially, it looks like one more speech about monetary policy. But look a little deeper and you see Yellen is asking some radical questions.

Weed GDP

Jan 30, 2018

When the Canadian government said it would legalize recreational marijuana in the summer of 2018, some people thought: I am going to have an amazing party. Others worried about what to tell their kids.

James Tebrake had a different thought: "We have one chance to collect as much information as possible about a very interesting and important issue."

That issue: What happens to a country's economy when a popular drug goes from being illegal to being legal?

This morning, the federal government released the JOLTS report. (The name is an acronym for Job Openings and Labor Turnover Survey.)

The has a bunch of useful data points about the jobs market. But, more than that, it implies a really dynamic, exciting way of looking at the job market.

Among its insights: Workers are getting more power relative to employers. Also, quitting is awesome.

Bonus: Our guest, Nick Bunker, tells the JOLTS story in graphs.

This episode originally ran in 2012.

We're in a gym full of high school students. The gym is at the headquarters of the New York Federal Reserve, just a few blocks from Wall Street. The students are here for the High School Fed Challenge.

In big-time college football or basketball, money is everywhere. Millions of fans purchase tickets to games. There are giant TV contracts and million-dollar coaches' salaries. Shoe companies like Adidas and Nike compete for contracts with top teams.

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AILSA CHANG, HOST:

Illmind is a music producer. He isn't famous. He doesn't DJ at festivals in front of huge crowds. He's not best friends with Drake. But the producers who do DJ for huge crowds, who are best friends with Drake — they know Illmind. They use his sounds. They text him when they're working on a song that needs a little something.

Aspiring producers who want to be famous — they also know Illmind. Some of them pay hundreds of dollars and fly across the country just to sit in a room with him and hear what he thinks of their work.

Note: This episode originally ran in 2015.

It used to be that if you ran a store, you wanted to make it easy for your customers. But Price Club and Costco went in the opposite direction: They made shopping harder. And people loved it.

Today on the show: How Costco and its imitators changed the way we shop. And how a new company is taking what Costco started to new extremes.

Note: This episode originally ran in 2012.

Earlier this summer, a European official walked into a roomful of reporters and answered a question that some people have been asking for a long time now:
Is Google abusing its power over the Internet?

Google--which is now technically owned by a company called Alphabet — is one of the biggest corporations on the planet. It controls the information billions of people see when they want to know: who was FDR's secretary of state, or where the nearest gas station is, or where to order a Sony Digital Camera.

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