Marketplace

Weekdays at 6:30PM on WVTF/RADIO IQ

Marketplace with host Kai Ryssdal produced and distributed by American Public Media focuses on the latest business news both nationally and internationally, the global economy, and wider events linked to the financial markets.

The only national daily business news program originating from the West Coast, Marketplace is noted for its timely, relevant and accessible coverage of business, economics and personal finance. 

Wells Fargo will pay the federal government a billion dollars to settle charges of misconduct in its car and home loans. That's a lot, but only a small percentage of the banks' recent profits. It's also the biggest bank fine imposed by the Trump administration and the first by the Consumer Financial Protection Bureau under the direction of Mick Mulvaney. He's no fan of the agency he's now in charge of, and he's still Trump's budget guy, so we had him on today to talk about all of it.

Wells Fargo will pay $1 billion to federal regulators to settle charges tied to its mortgage and auto lending business, the latest chapter in years-long, wide-ranging scandal at the banking giant. However, it appears that none of the $1 billion will go directly to the victims of Wells Fargo’s abuses.

In a settlement announced Friday, Wells will pay $500 million to the Office of the Comptroller of the Currency, its main national bank regulator, as well as a net $500 million to the Consumer Financial Protection Bureau.

(Markets Edition) When it comes to the market, traders look at three influential figures: the chair of the Fed, its vice chair, and the president of the New York Fed. We'll talk to Chris Low, chief economist at FTN Financial, about why some were "disturbed" by what John Williams, the next NY Fed president, recently had to say at a press conference in Madrid. Afterwards, we'll look at one major domestic appliance company that could come out ahead amid all this tariff talk. Whirlpool may have an advantage thanks to a protective tariff on foreign washing machines. 

Critics of President Donald Trump's steel and aluminum tariffs say the policies hurt U.S. manufacturers that use a lot of those materials. And one industry likely to feel the pinch of higher production costs: home appliance manufacturers. Still, at least one major domestic appliance company, Whirlpool Corp., may come out ahead, thanks to another protective tariff — on foreign washing machines.

Ideastream's Adrian Ma is with the Marketplace Hub in Cleveland.

Click the audio player above to hear the full story. 

The Conference Board’s Leading Economic Index, which was up 0.3 percent in March, indicates the economy looks pretty good heading into summer and fall. The index crunches forward-looking measures like building permits, factory orders and unemployment claims to predict where the economy will be six months from now. And it looks as if the economy is growing at a fairly strong rate. But there are potential clouds on the horizon: President Donald Trump’s threatened tariffs and potential retaliation by China, which could lead to price spikes, industry contraction and layoffs.

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