Economy

The Federal Reserve held interest rates steady while signaling it can cut rates only once this year. The decision came after data earlier showed inflation cooling slightly.

Graphite is sort of the one-hit wonder of minerals. And that hit? Pencils. Everyone loves to talk about pencils when it comes to graphite. If graphite were to perform a concert, they'd close out the show with "pencils," and everyone would clap and cheer. But true fans of graphite would be shouting out "batteries!" Because graphite is a key ingredient in another important thing that we all use in our everyday lives: lithium ion batteries.

Almost all of the battery-ready graphite in the world comes from one place: China. That's actually true of lots of the materials that go into batteries, like processed lithium and processed cobalt. Which is why it was such a big deal when, earlier this year, President Biden announced a tariff package that will make a bunch of Chinese imports more expensive. Included in this package are some tariffs on Chinese graphite. He wants to create a new battery future—one that doesn't rely so much on China.

In this episode, we get down on the ground to look at this big supply chain story through the lens of one critical mineral. And we visit a small town that realizes that it might be the perfect place to create an American graphite industry. And we find that declaring a new battery future is one thing, but making it happen is another thing entirely.

Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.

The Federal Reserve introduced a visual tool called the "dot plot" in 2012 to communicate where officials think interest rates should be in the coming years. The dot plot is eagerly dissected by Fed watchers looking for insight on future policy, but others think that the dot plot has become a visual example of just how little the Fed can predict where the economy is going.

Today on the show, we decode the dot plot and hear why some think that the Federal Reserve's artistic exercise should be scrapped altogether.

The Federal Reserve's latest dot plot (page 4)

For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.

Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

The Consumer Financial Protection Bureau released proposed federal regulations that would prevent unpaid medical bills from being counted on consumers’ credit reports.

The Labor Department reports Wednesday on what happened with inflation last month. Later, the Federal Reserve will provide an updated forecast of where interest rates are going.

Dental Therapy could be one solution for improving oral care in underserved rural communities. What new momentum is there for dental therapy, and why is the American Dental Association pushing back?

Politicians on both sides of the aisle call the surge at the US Southern Border a "border crisis."

One camp says we need to focus on addressing the conditions in other countries that cause people to leave. The other says we have to focus on deterrence and enforcement.

But...what if both camps are actually ignoring a major piece of the picture? Today on the show, an overlooked cause and potential solution to the situation at our southern border that has nothing to do with the border at all.

Related episodes:
Why Venezuela is no longer in freefall
Welcome to the USA! Now get to work.

ICYMI, preorder our new Indicator t-shirt at the NPR shop. For more ways to support our show, sign up for Planet Money+ where you'll get sponsor-free listening, bonus episodes, and access to even more Indicator merch.

For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.

Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

A surge in the dollar has benefited many Americans and reinforced the country's economic strength — but it has also caused a lot of pain for others.

Under Social Security's outdated SSI rules, couples say they can't marry - or they have to hide