Marketplace examines the Federal Reserve's struggle to bring inflation down to 2% after more than five years, questioning the central bank's power. Other economic news includes falling consumer confidence, a bump in transportation equipment orders, and a look at how Arizona's creative budgeting during the Great Recession could inform tax policy in an AI-driven future. The show also profiles a historic Route 66 motel and water conservation efforts by the Gila River Indian Community.
This summary was generated from show notes and public descriptions, not from a full transcript review. Details may contain inaccuracies.
Novel
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Arizona’s 'Capitol-ism' approach for AI-era taxes
Arizona's creative budget measures from the Great Recession are being revisited as a model for restructuring state taxes in a future where AI disrupts traditional income tax bases.
The episode questions whether the Federal Reserve still has the power to bring inflation down to 2%, given that core PCE remains above target after more than five years of rate hikes and quantitative tightening.