Last Wednesday, we reported that the CPI came in at 3.8%. The next day, the BLS reported the PPI, the prices producers pay, hit 6%.

What does that mean?

The PPI leads CPI. What businesses absorb today, consumers are likely to pay tomorrow. If producers are paying more, they will eventually pass that on to consumers. That means consumers should brace themselves for even higher prices in the near future. We are likely to see CPI increase even faster than it has been.

Here’s what Brandon said on the podcast this week that stayed with me: this isn’t something that happened to us. Tariffs are a policy choice. The Iran conflict accelerated it, but the stair-step rise in prices was already underway before that. And because prices move up like a rocket and come down like a feather, sticky on the way down due to long-term contracts, renegotiation cycles, and producer margins, expecting a fast reversal is wishful thinking.

The labor market is holding, but it’s not dynamic. Brandon noted that with reduced immigration, the economy simply needs fewer new jobs to maintain stability, which makes 115,000 monthly additions look better than they probably are. And less immigration over time means fewer entrepreneurs, less innovation, and more anemic growth further down the road. The GDP math is not flattering.

What does this mean for your wallet right now? Brandon’s personal story said it better than any chart could: airfare that was $300 rose to $1,200 after the news of Iran broke. He took a connecting flight instead of a direct flight. Gas is running 50–60% higher than it was two months ago, which changes the calculus for which jobs are worth commuting to, how hard people push back on return-to-office mandates, and which big purchases get delayed.

It is easy to focus on the data point and forget the human-centered story behind the data.

One more thing from this episode worth knowing about:

Brandon is a founding member of EENE — the Economic Education Network for Experiments (eene.org). It’s a research collaboration of 200+ economics instructors across institutions — public, private, HBCUs, R1s — running synchronized classroom experiments to actually answer what works in economics education. Most education research is too small to generalize. EENE is trying to fix that with scale and rigor. They have papers under review and their third annual conference coming up after CTREE in Las Vegas this summer. If you teach economics or know someone who does, this is worth knowing about.

The full conversation — inflation, AI in education, what Microsoft and OpenAI executives actually want from new graduates — is in this week’s episode of The Weekly Rap.

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115,000 jobs. Unemployment unchanged. And almost nobody feels good about it.The April jobs report came in more than double what economists expected — and the labor market still feels fragile to most people. That gap isn't a vibe problem. It's a data problem.In this episode, Dr. Abdullah Al-Bahrani and Jack Marx break down what the headline number misses: a 445,000-person spike in part-time workers who wanted full-time jobs, 348,000 federal workers gone since October, and a warehousing sector that had a good month but is still 105,000 jobs below its 2025 peak.They also get into GameStop's bid to buy eBay — and what Ryan Cohen's CNBC appearance reveals about how markets actually process information. Plus: why Decode Econ is changing its format this summer, and what that means for you.📩 Get the full written analysis — free — every Monday, and Wednesday at Decode Econ: www.DecodeEcon.com Paid subscribers get Friday's deep dive: What you should know about economics.Timestamps 00:00 — The jobs number everyone saw 04:20 — What the headline misses: part-time, federal, warehousing 11:45 — Why the vibes and the data keep diverging 18:30 — GameStop bids for eBay. Ryan Cohen biffs the CNBC interview. 25:10 — Why we're changing the format Decode Econ translates economic data into clear, responsible analysis — without jargon, hype, or partisan framing.#economics #jobsreport #labormarket #decodecon #theweeklyrap

Subscribe to www.DecodeEcon.comIs the U.S. economy actually strong—or just riding an AI bubble?In this episode, Dr. Abdullah Al Bahrani and Jack Marx break down GDP growth, rising U.S. debt (now at 100% of GDP), Federal Reserve pressure, and whether AI investment is artificially propping up the economy.We also discuss inflation, wages, oil prices, and what history (like Japan’s zero interest rate policy) tells us about what could happen next.🔍 What You’ll Learn* Why GDP growth is being driven by AI investment* The risks behind a 100% debt-to-GDP ratio* How Federal Reserve independence impacts markets* Whether the AI boom is sustainable* What rising oil prices mean for inflation* Lessons from Japan’s economic policies* The mindset students need to succeed today⏱️ Timestamps00:00 – U.S. debt hits 100% of GDP 00:41 – GDP growth breakdown (2%)01:20 – AI driving the economy?02:12 – Strong economy despite global turmoil03:23 – Why this feels unsustainable04:10 – The AI bubble explained05:18 – Will AI companies actually profit?06:00 – Jerome Powell & the Fed08:23 – Japan’s zero interest rate warning09:42 – Gas prices & geopolitics11:16 – Debt crisis risks12:29 – Can we fix government spending?15:19 – The “Last Lecture” mindset19:01 – Life advice: curiosity & resilience22:27 – Final thoughts

In this episode of Decode Econ Podcast, Dr. Abdullah Al Bahrani and Jonathan Marx break down why starting your career feels harder than ever—and why it’s not just in your head.

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From real conversations at Eggs & Issues to insights from the Notes app, this discussion connects what students are experiencing with what’s actually happening in the economy.

We also have some important questions for you. Make sure to watch and tell us what you think.

We cover:

• Why “entry-level” now means experience required

• How rising expectations are reshaping the job market

• What income inequality (yes, the Gini coefficient) has to do with your career

• Insights inspired by Kyla Scanlon and Gary Hoover

• What students and graduates can actually do to adapt

• What is the American Dream, and how is it changing?

If you’re a student, recent graduate, or just trying to understand today’s economy, this conversation is for you.

You’re not falling behind—the system is changing.

00:00 Intro
02:00 The Notes App & Thinking Process
05:30 Are Entry-Level Jobs Disappearing?
10:00 Eggs & Issues: What Leaders Are Saying
14:30 Inequality & the Gini Coefficient
18:00 The Broken First Rung
22:00 What Students Should Do Next

Share

1. NKY Chamber of Commerce events - Next Eggs ‘N Issues event

1. Scott Galloway on Gini Coefficient.

2. NBER Paper INCOME AND WEALTH INEQUALITY IN THE UNITED STATES:

   AN UPDATE INCLUDING THE 2022 WAVE

3. BE NKY Report on Productivity.

4. Leadership program at Haile Graduate Programs. Applications are open for the 2026 cohort. Master of Business Leadership and Innovation.

5. The first rung is broken.

   My Notes app has 1,461 entries. That’s where I write down ideas, save random images, and drop links to videos I want to return to. It is not organized.

6. Join us this Friday for the Haile Research Lab Senior Sendoff and to welcome next year’s cohort.

The big idea: the first rung of the ladder is breaking

What does a donut have to do with monetary policy—and why did it earn a round of applause? In this week’s Decode Econ Weekly Rap, we unpack what makes a “perfect lecture,” rethink how we teach economics (hint: fewer multiple-choice exams, more real thinking), and break down the surprisingly doable path to saving $2 million starting from your first paycheck. Along the way, we tackle a deeper issue: why comparison—especially in school, careers, and money—is quietly undermining how we measure success. If you’ve ever felt behind, this episode will challenge how you think about progress, purpose, and your own path.

Subscribe to Decode Econ on YouTube

00:00 – 02:30 | Names, Identity, and Professional Signals
Why “Jonathan vs. Jack” matters more than it seems—and how naming reflects identity in professional spaces.

02:30 – 06:00 | The “Perfect Lecture.”
A monetary policy lecture that landed—storytelling, student engagement, and ending with a donut analogy.

06:00 – 10:30 | Rethinking Econ Education
Moving away from multiple-choice finals toward research, writing, and economic thinking.

10:30 – 14:30 | The $620 Question
Can students realistically save $2 million? Breaking down the math behind early-career saving.

14:30 – 17:00 | Can You Live on $3,600/month?
Cost of living, geography, and how Cincinnati compares to major cities.

17:00 – 21:00 | Comparison Is the Thief of Joy
From social media to the classroom—how relative thinking distorts well-being and decision-making.

21:00 – 24:00 | Student Pressure and “Figuring It Out.”
Why students feel behind—and when the “click” actually happens.

24:00 – End | Trusting the Process
Growth, mentorship, and why your path doesn’t need to look like anyone else’s.

n today’s fast-moving world, economics can feel confusing and overwhelming—but it doesn’t have to be.In this video, we break down 5 powerful insights from the Decode Econ podcast to help you better understand how the economy works and how it impacts your everyday life.Founded by Dr. Abdullah Al Bahrani, Decode Econ is all about making economics simple, accessible, and relevant. Through podcasts, newsletters, and events, the platform helps everyday people cut through the noise and build real economic understanding.🔑 Here’s what you’ll learn in this video:Why Economic Basics MatterUnderstanding core concepts like supply, demand, and inflation can help you make smarter financial decisions and feel more confident navigating economic conversations.Economic Literacy & CapitalismWhen people don’t understand the system, they lose trust in it. Improving your economic literacy empowers you to make informed choices and better understand how markets work.The Power of Data in EconomicsData analytics plays a huge role in shaping economic decisions. Learning how to interpret data can give you a clearer picture of trends and outcomes.Why Community MattersLearning economics doesn’t have to be a solo journey. Engaging with others helps deepen your understanding and makes the process more enjoyable.The Future of Economic EducationEconomic knowledge should be accessible to everyone. Platforms like Decode Econ are leading the way by simplifying complex ideas into easy-to-digest content.📌 Whether you're new to economics or just looking to sharpen your understanding, this video will give you practical insights you can actually use.👉 Want to go deeper? Check out the full Decode Econ podcast for more conversations that make economics make sense.💬 Let us know in the comments: What economic topic do you want explained next?

Healthcare is full of good intentions. It is also full of incentives.

In this episode of the Decode Econ Podcast, we sit down with Beth Munnich, Associate Professor of Economics at the University of Louisville, to discuss her research published in the American Economic Review on physician ownership of outpatient surgery centers.

The question is straightforward:

When doctors own the facilities where they operate, does behavior change?

The answer, as in most markets, comes down to incentives.

Outpatient (ambulatory) surgery centers have expanded rapidly over the past two decades. Advances in medical technology now allow many procedures to be performed safely without overnight hospital stays.

This shift matters for three reasons:

* Cost: Outpatient centers typically operate at lower overhead than hospitals.

* Access: Patients benefit from shorter stays and quicker turnaround.

* Market Structure: Increasingly, physicians are not just providers; they are also the owners.

Ownership changes the economic equation.

We also discuss teaching and advice for students and economists starting their academic journey.

Key Takeaways

* Physician ownership changes financial incentives in outpatient surgery markets.

* Incentives influence referral patterns and potentially spending.

* Healthcare markets are deeply shaped by ownership structure and insurance design.

* Rigorous empirical research is essential to move beyond speculation.

* Mentorship and persistence are critical in academic careers.

This episode is about how markets respond when incentives change.

And as Beth reminds us, incentives are always the key

Our goal is to amplify research and the people behind it, help us spread the word about Beth’s Research

Chapters

00:00 Introduction to Decode Econ and Guest Beth Munnich

00:12 Guest introduction and research overview

01:06 Why Beth Munnich was drawn to healthcare economics

01:35 The rise of outpatient surgery and its implications

03:22 The importance of data and research questions

05:18 Incentives and physician ownership in surgery centers

07:44 Potential outcomes of ownership incentives

08:31 Research findings on ownership and healthcare costs

10:40 Doctor behavior and the principal-agent problem

12:06 Insurance and patient financial incentives

12:38 Research process and data collection challenges

15:41 Long-term research journey and data acquisition

20:46 Economic lesson: Always incentives

22:06 Aligning incentives for better patient care

23:22 Beth Munnich’s teaching philosophy and course design

28:33 Target audience and topics of her new course

30:00 Flipping the classroom: Relevance first in economics education

31:35 Favorite subfields: Labor economics and social issues

32:42 Impact of research on teaching and curriculum

33:31 Career advice for students and early professionals

35:44 Path to a PhD and career in economics

38:02 Skills needed in modern economics

39:44 Misconceptions about academic life

41:38 Advice to younger self and career reflections

45:05 Mentorship and networking in academia

45:26 Connecting with Beth Munnich

46:37 Closing remarks and gratitude

resources

Beth Munnich’s website

https://www.bethmunnich.com/

Join Dr. Abdullah Al Bahrani and Jack Marx for a wide-ranging conversation on economic policy, leadership, and personal growth.

From Supreme Court tariff rulings to Kentucky’s long-term tax strategy, this episode breaks down what recent policy changes mean for consumers and households. The discussion also moves beyond economics into the role of emotional intelligence in leadership—because understanding policy is important, but understanding people is essential.

Episode Summary

This episode begins with reflections on midterms and the importance of engagement in learning. From there, the conversation turns to recent tariff rulings and the constitutional questions surrounding trade policy.

Dr. Al Bahrani explains how tariffs work, who legally pays them, and who actually bears the economic burden. The discussion explores what “refunds” would really mean for consumers—and why the answer may be more complicated than headlines suggest.

The episode then shifts to Kentucky’s gradual transition away from income taxes toward a broader consumption-based system. The conversation unpacks the strategy behind revenue triggers, the trade-offs involved in tax reform, and the long-term implications for households.

Finally, the discussion closes with a powerful reminder: economics is about incentives, but leadership is about people. Emotional intelligence, reflection, and passion are not soft skills—they are performance skills that shape both economic outcomes and personal growth.

Key Topics

* Tariffs and their constitutionality

* Statutory vs. economic incidence

* Kentucky’s tax policy transition

* Inflation and supply chain dynamics

* Emotional intelligence in leadership

* Reflection as a tool for growth

Notable Sound Bites

* “Illegal tariffs should be refunded.”

* “Passion drives understanding and motivation.”

* “Reflection is key to emotional growth.”

Chapters

00:00 Introduction and Midterm Reflections05:38 Kentucky’s Budget and Tax Strategy11:00 Emotional Intelligence and Personal Growth

Keywords

Economics, Tariffs, Kentucky Tax Policy, Emotional Intelligence, Leadership, Public Policy, Supply Chain, Inflation, Midterms, Economic Education

This week’s Posts

* Can Kentucky Cut Taxes and Still Compete?

* If Tariffs are Unconstitutional, Who Gets the Refund?

* Trump’s “Liberation Day” to Judgement Day

* Can You Read the Room?

From Income Tax to Sales Tax: What Kentucky Is Really Changing

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