Nancy Marshall Genzer
- Washington Reporter, Marketplace
- Senior Reporter, American Public Media
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Articles by Nancy Marshall Genzer
How USAID cuts have affected the maker of a life-saving peanut paste
Heard on: Mark Moore is the co-founder & CEO of Mana Nutrition, an organization that produces nutritional peanut paste distributed to children experiencing malnutrition. Mana now employs roughly 130 people and has a production plant located in Fitzgerald, Georgia. By and large, USAID has been Mana’s largest customer. But since the start of the year, it’s been “a kind of a yo-yo effect,” Moore told Marketpace’s Nancy Marshall-Genzer last month.
How Social Security layoffs and site closures could impact you
Among the federal agencies that DOGE has its eyes on is the Social Security Administration. Less than three months into the current Trump administration, Social Security has been in the headlines a lot: Offices are expected to close. At least 7,000 workers are expected to be cut. Identification requirements have been changed, too. And a lot of those changes may mean limited access and additional delays to already protracted services.
How USAID cuts are being felt by one Oklahoma contractor
On Friday, for a second day, current and former U.S. Agency for International Development workers are being allowed into USAID headquarters in Washington, D.C. for 15 minutes to pack up their belongings. But the federal government’s layoffs are being felt across the country, not just in D.C. Patricia Gross, 47, has worked as an independent government contractor — a gig worker — since 2018. She, her husband and three young sons live just outside of Tulsa, Oklahoma.
What personal finance education looks like across the country
Personal finance education is hot right now. Thirty-six states now require students take some personal finance in order to graduate, according to the Council for Economic Education. The requirements come in different flavors. Some states have a standalone, semesterlong course dedicated to personal finance, while others work lessons into other classes, like social studies.
U.S. farmers face uncertainty from USAID foreign aid freeze
Some of the food aid the United States distributes to other countries comes from U.S. farmers. According to archived USAID data, the agency bought more than 1 million metric tons of food from U.S. producers in fiscal year 2023. It’s a market growers depend on, but it’s been unpredictable lately because of the freeze the Trump administration ordered on foreign aid.
Did the 2017 tax cuts really pay for themselves?
Key parts of the 2017 tax cuts expire at the end of this year. The Trump administration really wants to make them permanent. But that would be expensive. Supporters of a tax cut extension say it would pay for itself. But would it? Did that happen back in 2017? If you just look at the raw numbers, it does seem like the 2017 tax cuts paid for themselves. From 2018 to 2024, the federal government took in $1.5 trillion more than the Congressional Budget Office had projected. “About two-thirds of that?
USAID supporters share impact of Trump's threat to close agency
As of Friday, the second Trump administration is putting almost all employees of the United States Agency for International Development, or USAID, on leave. Opponents of the move held a rally on Capitol Hill on Wednesday. There, USAID supporters at the rally held signs, saying things like “USAID Saves Lives” and “Save USAID.” They chanted, heard speeches from members of Congress and worried about USAID’s unfinished work.
Global NGO programs in limbo during Trump's foreign aid freeze
The Trump administration may have rescinded an order freezing federal grants, but it appears the State Department’s suspension of foreign aid is still in effect. Most of the aid was put on pause for a 90-day review. In the meantime, aid groups say lives could be on the line. The State Department did make some exceptions to its freeze on foreign aid. Secretary of State Marco Rubio issued a waiver allowing deliveries of things like life-saving medicine, food and shelter.
Is there a market for luxury EVs? GM thinks so.
General Motors is hoping to grab a bigger share of the market for luxury electric vehicles. To that end, it just unveiled a souped-up version of its Cadillac Lyriq-V SUV. But when the average price of an EV already tops $50,000, is there much of a market for something even pricier? The price of this Lyriq EV starts at $80,000. Hardly a bargain. But in the EV world, luxury is in. “The EV market is lux-heavy,” said Elaine Buckberg, a former chief economist at GM.
As Trump takes office, how should we navigate politics at work?
Today is Martin Luther King Jr. Day and Inauguration Day, with Donald Trump officially starting his second term as president. Although election season is over, that doesn’t mean political discussions stop, even at work. After all, some people are saying the 2026 midterms are just around the corner. (Deep breath, everyone.) So what do you do if news or politics start impacting you at work? And how do you navigate those conversations safely at the office?
What a second Trump term means for the Federal Reserve
The Federal Reserve cut interest rates by a quarter percentage point on Thursday, just two days after Donald Trump won a second term as president. Fed Chair Jerome Powell stayed away from politics (as much as he could) at Thursday’s press conference, but some of President-elect Trump’s proposals have implications for the economy. The Fed Chair said he feels good about the current state of the economy. “The labor market has cooled from its formerly overheated state and remains solid,” Powell said.
Why smaller dating apps like HER are having a big moment now
The world of dating apps is not doing so hot right now, at least for the big name brands we’ve learned to love (or hate). The biggest players in town, Match Group — the parent company of several dating apps, including Tinder and Bumble — are experiencing a bit of a slump after business boomed during the pandemic. Now, industry leaders are struggling to keep both users and investors happy. And that’s not the worst thing for smaller, niche dating app startups looking to grow in a difficult industry.
Do Trump and Harris need your political donations at this point?
I have an inbox full of emails from the Trump and Harris campaigns pleading for cash. To be clear, I do not make donations to political campaigns — haven’t given anyone a penny. Still, the emails and texts keep coming. At this point in the presidential campaign, the fundraising pleas from the candidates are deafening. And they’re not stopping — far from it. Often, they’ll have subject lines like “Desperate Circumstances!” “Meet Trump!” “$7 makes a difference.” I even got an exclusive recipe offer.
Will AI lead to layoffs? New data from CEOs says no
Heard on: Heard on: The audit, tax and advisory firm KPMG is out with its latest U.S. CEO Outlook survey. The annual survey is taken from CEOs who head up 400 large companies here in the U.S., and features insights on the long-term expectations for their companies on topics such as cybercrime, economic uncertainty and generative artificial intelligence. Paul Knopp is KPMG’s U.S. CEO. Marketplace’s Nancy Marshall-Genzer spoke with him to go over the top findings.
What do Federal Reserve rate decisions look like in election years?
It happens like clockwork: Federal Reserve meetings on interest rates always start on a Tuesday and end on a Wednesday with a press conference — like the one today. But the next meeting in November will start on a Wednesday to avoid Election Day. So what generally happens regarding interest rates in election years? If you’re keeping score, over the past eight presidential elections, the Fed has cut interest rates in four election years, raised them in three and left things unchanged in 2012.
Why does the CPI always show higher inflation than the PCE?
The federal government produces two ways to measure inflation: There’s the consumer price index — the August reading comes Wednesday — and there’s the personal consumption expenditures price index, which is the gauge the Federal Reserve prefers to keep an eye on. You might think they’d be about the same, but think again. It turns out, the CPI shows consistently higher inflation than the PCE. That’s because the two measures put different emphasis or weight on different prices. Take housing.
Why the Fed's Jackson Hole event is the hottest ticket in econ
It just may be the most sought-after invitation in economics here in the U.S.: A trip to the mountains — to the Kansas City Fed’s annual economic policy symposium at Jackson Hole, Wyoming. This year’s version runs from Aug. 22 to 24, and it is once again likely to transfix investors watching from the outside. The Jackson Hole Symposium is an economist’s version of a Taylor Swift concert. But only around 120 academics, Fed policy makers and journalists get to go.
How the economy is influencing voters in a Michigan swing county
Kent County, Michigan — home to Grand Rapids — helped hand the state to former President Donald Trump in 2016. It flipped to President Joe Biden in 2020. We asked voters in this swing county in a swing state if their personal finances will affect how they vote. The answer is an emphatic yes from Rob Dekker. He was searching for bargains at a Daily Deals grocery store in the town of Wyoming, Michigan, in south Kent County. He owned a plumbing company before he retired.
How businesspeople in swing state Michigan view the economy
Former President Donald Trump won Kent County, Michigan in 2016. The county swung to President Joe Biden in 2020. The region is known for manufacturing office furniture, as well as car parts. Darious Howard is a supervisor at Corvac, which makes stuff like fenders and engine covers. I met Howard when he was off duty, headed into a dollar store in south Kent County. Howard told me business usually drops off a bit over the summer, causing some workers to be furloughed.
How consumers in a swing state are feeling about the economy
Kent County, Michigan — home to Grand Rapids — is pretty much the definition of a swing county in a swing state: It went for Trump in 2016, then flipped to Biden in 2020. I visited the county to see how the local economy might play into this year’s presidential election, and found that some voters are struggling and pessimistic about their financial futures. An economic forecast from Grand Valley State University in Grand Rapids predicts a slowdown in hiring in the region.
Unpacking Fed Chair Powell's remarks on holding rates steady
On Thursday morning, we’re scheduled to get the latest initial jobless claims. The Federal Reserve is keeping a close eye on the job market. Fed Chair Jerome Powell at Wednesday’s press conference, but he did say the Fed doesn’t want to keep rates high for too long and cause more people to lose their jobs. It won’t be appropriate to cut interest rates, Powell argued, until officials are more confident that inflation is moving sustainably toward the Federal Reserve’s 2% goal.
Why women's health is so far behind the curve
Heard on: In what is believed to be a first-of-its-kind study, researchers found small but “measurable” amounts of metals such as lead and arsenic in both organic and non-organic tampons found on the market. And the news is creating a fire storm online. While the authors of the report say more research is needed to understand what these findings could mean for people who use tampons, the news has a lot of people frustrated with how women’s health, in general, is treated.
The Dawes Act cratered Native American wealth for generations
Wealth is critical for financial security. Individuals can tap into their wealth to invest in education, buy a home, and fund businesses. Yet in the United States, there continue to be deep, persistent racial and ethnic wealth gaps, including for Native Americans. The average Native American household for the average white American household. However, recent research highlights that wasn’t always the case.
A lot less rainbow in stores this Pride month
June marks Pride month, when folks across the world celebrate the LGBTQ+ community. But this year, brands seem to be taking a back seat on Pride marketing. That’s despite the fact that a significant chunk of Gen Z identifies as LGBTQ.
Black entrepreneurship's role in closing the racial wealth gap
This Juneteenth, we’re taking a look at the racial wealth gap in the United States — and initiatives to bridge that gap. from earlier this year found that in 2021, white households were 10 times wealthier than Black households. Slavery and racial discrimination created the structural barriers that gave way to this racial wealth gap. Let’s look now at efforts to close the gap. Kezia Williams is CEO of the Black upStart, a national initiative and curriculum for Black entrepreneurs.
For local firms, Baltimore bridge reconstruction is personal
At the entrance to the now-deserted road leading to Baltimore’s Francis Scott Key Bridge, there’s a roadside memorial to the six construction workers who perished when the bridge collapsed in late March after it was hit by a massive barge. Janet Groncki stood in front of six giant crosses — each topped by a hard hat and draped with pictures, flowers and steel-toed boots. “I mean, it’s so touching to me,” she murmured.
Forever stamps are about to get more expensive — again - Marketplace
The U.S. Postal Service is hiking prices. Again. The price of a first-class Forever stamp is set to rise from 68 cents to 73 cents on July 14, a nearly 8% increase. This is on top of a stamp price increase just last January. USPS couldn’t meet the deadline for our interview request, though postal officials have said they need the higher rates to keep up with inflation and try to meet expenses.
What goes into OPEC's decision-making?
OPEC+ members are meeting Sunday, just as the summer driving season is getting underway. The group will be deciding what limits to set on the amount of crude oil that member countries can pump out of the ground. OPEC’s decision-making is all about supply and demand. And the cartel wants to manipulate production to push up prices and demand. “Price is always in the background as part of the discussion,” said Mark Finley, a fellow at Rice University’s Baker Institute.
Foreclosures are down 24% from the same time a year ago
Earlier this week, we learned that home prices are at record highs. But in a bit of good news from the housing market, foreclosures are down almost 24% from the same time last year, according to new research out Thursday from the real estate data firm ATTOM. There was a moratorium on foreclosures during the height of pandemic. The CARES Act prohibited them from March 2020 through July of 2021 unless a home was vacant or abandoned.
Walmart's newest growth market? More affluent shoppers
Walmart investors got some good news on Thursday when the retailer reported its latest quarterly earnings. Revenue and earnings per share beat expectations, and Walmart says it’s making inroads with high-income shoppers. The company has been trying to lure them in with new, trendier products and faster delivery of online orders. Some high-end shoppers turned to Walmart during the pandemic. Paula Rosenblum was one of them.
Why isn't the cost of borrowing money part of the CPI?
The April consumer price index report was released Wednesday morning and showed inflation slowing slightly last month. It’s important to remember that whatever the monthly data release tells us about inflation, the CPI doesn’t count one of the biggest categories of price increases hitting consumers — the cost of borrowing money. Unemployment is low. Inflation has been slowly cooling. So why are consumers feeling blue? “How people feel depends on monthly payments that they are making.
How accurate are the federal government's inflation measures?
The Federal Reserve starts a two-day meeting on interest rates on Tuesday. The inflation indexes that inform the Fed’s decisions don’t always jibe with consumers’ experiences. As in, the official measures seem pretty low. But wait, are the inflation measures the Fed depends on just … wrong?
Why workers are earning less of the income their labor generates
Next month, the Bureau of Labor Statistics will tell us how much of the income generated by workers’ toil actually went to them in the first quarter of this year. That stat is called labor share of national income — and it’s shrinking. @marketplace.apm Employers are taking a bigger slice of the income generated by your work. Marketplace’s Nancy Marshall-Genzer breaks down the labor share of income. Link in bio for the full story.
Why women pay more for health care than men do
Bankruptcy still carries stigma. So Rhonda, a 48-year-old single mom in North Carolina who filed for bankruptcy, just wants us to use her first name. Her story starts in 2006; she’d taken a job with higher pay but no benefits. “The bulk of my medical debt came from — I lost a child,” she said, sadly. Rhonda’s daughter was breathing when she was born but soon after she died. Rhonda needed emergency surgery, blood transfusions and hospitalization. The bills added up.
Maryland lawmakers rush PORT Act to aid jobs affected by bridge collapse
The Maryland legislature is fast-tracking an emergency bill to help people whose jobs are affected by the collapse of the Francis Scott Key Bridge in Baltimore. The accident last week claimed the lives of six bridge workers. Thousands of other people who work at or around the Port of Baltimore could soon find themselves out of jobs, because the port’s main shipping channel is closed. And small business owners are wondering how they’ll survive.
D.C. ranked last when it comes to federal job growth last year
The campaign to shrink the federal government is working, in Washington, D.C., at least. We got new statistics this week on employment from the Labor Department. Turns out, in 2023, D.C. ranked dead last when it comes to growth in federal government jobs. For years, there have been more federal workers based outside the nation’s capital than in it. That trend picked up during the pandemic.
Signs of a still hot — but cooling — job market - Marketplace
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Biden uses State of the Union speech to tout his economic wins
President Joe Biden used his State of the Union speech on Thursday night to try to convince Americans that his economic policies had improved their lives. Biden said he “inherited an economy that was on the brink” and claimed that his administration had helped U.S. businesses and consumers bounce back from the pandemic. He also talked about plans for further recovery. In the address, President Biden defended his record on the economy.
Companies need to calculate risks as the climate changes
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Senators likely to ask Jerome Powell about Fed rate cuts
Federal Reserve Chair Jerome Powell will be in the hot seat again on Thursday when he testifies before the Senate Banking Committee. On Wednesday, he was in front of the House Financial Services Committee. One of the big questions Powell is expected to face in the Senate Thursday: When will the Fed cut interest rates? Massachusetts Senator Elizabeth Warren is on the Banking Committee.
Want to know where inflation's headed? Look to the PPI
A few recent inflation indicators have been pointing in the wrong direction. The most recent one was the producer price index, or PPI. In January, it was up 0.3%, which was much higher than economists predicted. The PPI doesn’t tend to get as much attention as the government’s measures of consumer prices, but it probably should. Traditionally, you hear the PPI described as a measure of wholesale prices — say raw materials, such as chemicals, scrap iron, sand and gravel.
Senators grill big pharma execs on drug prices
Feb 9, 2024
Boeing's current troubles may trace back to the 1990s
Boeing is scheduled to release its earnings for the fourth quarter of last year on January 31. Boeing stock has taken a beating since a door plug blew out of a Boeing 737 Max 9 jet earlier this month. And Boeing has only reported two profitable quarters since 2019, after two fatal crashes involving the Boeing 737 Max 8. Boeing has undergone a lot of change over nearly 30 years. Ronald Epstein was a young engineer working for McDonnell Douglas when it merged with Boeing in 1997.
How flight attendants are feeling after the Alaska Airlines accident
Heard on: Heard on: Airplane safety is back in the news after a door plug flew off the cabin of an Alaska Airlines plane during takeoff. It’s brought into sharp focus the role that flight attendants have during flights; it’s a job that’s gotten increasingly more difficult with crews still feeling the effects of the pandemic.
"More people are carrying more debt for longer"
Investors are looking ahead to Thursday, when we’ll get the December consumer price index. We’ll discuss what we could expect with Karen Petrou, co-founder and managing partner at Federal Financial Analytics. Tags: Consumer price index (CPI) Consumer Price Index inflation The movie “Saltburn” went home empty-handed at this weekend’s Golden Globes.
Mobile shopping surpassed computer shopping this holiday season
Mobile reached a milestone during the recent holidays. Adobe Analytics said that for the first time in approximately 11 years of tracking this data, consumers did most of their online holiday shopping on phones. Retailers, for their part, doubled down on getting consumers to tap that Buy Now button. Did the shift to mobile influence what was bought? In November and December, people shopping on smartphones accounted for around 51% of online sales, according to Adobe. That includes Greg Portell.
2024 economic forecasts bring optimism and uncertainty
Economic forecasts for the coming year are pretty optimistic. They paint a picture of fairly low unemployment, gradually slowing inflation and continued economic growth. But there are risks to this mostly sunny outlook; some are global, and some come from Washington, D.C. Nobody says things will be perfect this year, including Vanguard senior international economist Andrew Patterson. “Rather than cautiously optimistic, I’d say we’re optimistically cautious,” he said.
New year, new minimum wage
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Minimum wage just went up in 22 states, but is it enough? Original
More than 20 states rang in the New Year by raising the minimum wage. The highest minimum wages are in the $16 to $17 range. “And, according to our analysis, that is going to increase wages for almost 10 million workers,” said Sebastian Martinez Hickey, who tracks the minimum wage at the Economic Policy Institute. He says more than half the workers getting a minimum wage hike are women. About 11% are Black, and more than a third are Hispanic.
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