President Donald Trump recently made a point to express admiration for Australia’s retirement system — and he says he’s got his Commerce and Treasury secretaries working on a strategy to implement it in the United States. Future Effects correspondent David Brancaccio joins to explain Australia’s “super” system of mandatory savings, and what it could mean for Social Security. But first: why new home construction jumped in June.Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.Marketplace Morning Report is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

The House Budget Committee approved a $95 billion budget bill on Thursday. The measure paves the way for a process known as reconciliation, which allows the majority party to pass bills without minority support. The package includes funding for defense, the war against Iran, and farm relief initiatives. This morning, we have an explainer. Then: what AI firms' expansion to New York City means for commercial real estate.Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.Marketplace Morning Report is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

Annual inflation is clocking in at 3.5%, which is still high by recent standards. That's also the same rate at which average hourly earnings grew in June. While workers barely broke even in June, they actually lost purchasing power to inflation in April and May. With real earnings stagnating, we'll examine some of the causes. But first, we'll check in on how the latest developments in the war with Iran are showing up in oil prices and the rest of the global economy.Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.Marketplace Morning Report is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.Stories included in this episode:What happens when wages grow at the same rate as inflation

Later today, we'll get retail sales figures from the Census Bureau. Consumers are pretty stressed right now and don’t like the prices they’re paying at the grocery store and gas station. However, they are still splurging on things that bring them joy. Plus, Spain and Argentina will face off for the World Cup final on Sunday. This morning, we'll dissect the political and financial costs for some national soccer clubs that didn't make it that far.Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.Marketplace Morning Report is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.Stories featured in this episode:Stressed consumers are still finding ways to splurgeThe economic cost that comes with crashing out of a World Cup

The AI boom has boosted tech spending to levels not seen since the IT boom of the 1990s. All of the spending on the AI infrastructure buildout is contributing to economic growth, but that kind of investment won’t necessarily support the broader economy over the long run. Also on the program: The producer price index showed a bigger drop than economists expected, and proposed changes could affect how billions of dollars in federal research grants are awarded.Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.Marketplace Morning Report is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.How AI investment is fueling the broader economy

Data centers, that is. That is the question that states are now grappling with. Just yesterday, New York became the first state to enact a moratorium on new large-scale data centers. Meanwhile, Louisiana is offering big tax breaks to try to attract AI companies. This morning, we dig into the economic arguments for and against data centers. Then, Delaware has long been the go-to state for registering companies because of its favorable business laws, but now Wyoming is taking the lead.Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.Marketplace Morning Report is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.Stories featured in this episode:New York pauses data centers over water and power concernsCould a business court help Wyoming be the next Delaware?

This morning, the Bureau of Labor Statistics released fresh consumer price index numbers, which showed that consumer prices actually fell 0.4% month over month in June. The year-over-year inflation rate, meanwhile, clocked in at 3.5% — down from 4.2% in May but still higher than the Federal Reserve's target. We'll discuss, then learn what's behind raising hay costs and how new U.S. foreign aid contracts are shaping healthcare on the African continent.Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.Marketplace Morning Report is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.Stories featured in this episode:Higher hay costs for farmers could spell higher beef and dairy prices for consumersThe new currency of global health aid: data

The way U.S. aid is distributed around the world has changed significantly since the beginning of President Trump's second term. Reporting by ProPublica shows that a series of new agreements between the United States and various African countries is tying funding to access to those countries' health data. So what kind of data is accessible and who stands to benefit? Also: setting the backdrop to Fed Chair Kevin Warsh’s first Congressional testimony.Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.Marketplace Morning Report is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

The Social Security trust fund is set to run out of money by 2032. Multiple policy proposals that could address this shortfall — everything from raising taxes and the retirement age, to scrapping the cap on taxable earnings. But today, labor economist Kathryn Anne Edwards shares another solution: tax companies that use gig workers. But first, the new Federal Reserve chair heads to Congress as policymakers are split about the direction of interest rates.Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.Marketplace Morning Report is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.Stories featured in this epsiode:How the gig economy could strengthen Social Security

Tomorrow, we'll get an inflation reading via the consumer price index. But a new report from the Urban Institute already finds that some people are struggling to cope with the cost of groceries. It turns out that more people utilizing credit cards and buy now, pay later services for groceries are struggling to repay those debts. Then, could the gig economy be a solution to funding the Social Security trust fund?Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.Marketplace Morning Report is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.Stories featured in this episode:As food prices rise, some consumers are turning to credit cards and other loans to buy groceriesHow the gig economy could strengthen Social Security