Deep Dive
Shownotes Transcript
Introducing Instagram teen accounts.
♪♪♪
Building a business may feel like a big jump, but OnDeck small business loans can help keep you afloat. With lines of credit up to $100,000 and term loans up to $250,000, OnDeck lets you choose the loan that's right for your business. As a top-rated online small business lender, OnDeck's team of loan advisors can help you find the right business loan to fit your needs. Visit OnDeck.com for more information.
Depending on certain loan attributes, your business loan may be issued by OnDeck or Celtic Bank. OnDeck does not lend in North Dakota. All loans and amounts subject to lender approval. How running a car company these days is like trying to drive wearing a sleep mask. I'm David Brancaccio in Los Angeles. Ford Motor Company stock is down 2.5% pre-market now after the company said it cannot assess its sales and profits for the rest of the year given tariffs. Marketplace's Nancy Marshall-Genzer reports.
Ford says revenue for the first quarter was down 5% from the same time last year. It blames a planned shutdown of certain plants related to vehicle launches that limited inventory. Ford estimates that tariffs will take a $1.5 billion bite out of its earnings before interest and taxes this year, but then adds that's, quote, "...subject to ongoing tariff-related policy developments."
Companies usually include more detailed financial guidance for the year in earnings reports, projections of things like revenue and costs. But Ford says it can't do that because there are substantial industry risks that could have significant impacts, risks like future or increased tariffs and industry-wide supply chain disruptions.
And that makes updating its financial guidance for the full year challenging right now. But Ford does say it's in a better position than other automakers because it makes more of its vehicles in the U.S. I'm Nancy Marshall-Genzer for Marketplace. Which bird is it? Hawk or...
Or Dove. The guardians of interest rates at the Federal Reserve meet today and tomorrow on what to do about an economy under stress given higher import taxes aimed at reshoring jobs. Hawks use their talons, higher interest rates to beat down inflation. Doves soothe by lowering interest rates to make borrowing easier. Karen Petru is managing partner at Federal Financial Analytics.
The Fed is going to stay up in the trees. They are not going to change rates today. This is, in my strong opinion, because that's what they think the right thing to do at a time of considerable economic uncertainty.
But it will raise a lot of commentary on ornithology because the president is a dove lover and he is going to be pretty annoyed if the Fed does not lower rates as he thinks it should. Yeah, dove lover, meaning he would like lower interest rates because that eases the pain and certainly helps politically at a time that he is, you
aggressively raising tariffs, even with the ones that were put on hold, still lots of tariffs. Yes, it might ease some of the pain because it would lower rates for people who are borrowing. It might permit a bit even more employment, although employment is very robust. But the Fed's fear, and it's mine too, is that lower rates when there's
All right. Birdwatching at the Central Bank.
Karen Petru, co-founder and managing partner at Federal Financial Analytics in Washington. Always good to catch up. Thanks, David. Bond market, little change now with a Fed decision due tomorrow about 2 Eastern. S&P futures are down 0.7%. Now Germany's DAX index is down 0.8%. After a big political surprise today, the leader of Germany's conservative party could not come up with the votes in parliament to become leader of the country. And he'll have to try again.
Looking for a one-stop shop for everything from a leaking pipe or air conditioning repair to an EV charger installation for your home or business? Parrish Services, an Ace Hardware company, are your local experts for all your plumbing, heating, cooling, and electrical needs. Trust the pros of Northern Virginia at Parrish Services to keep your home humming and your family comfortable all year long. Nearly home.
Isn't home where we all want to be? Reba here for Realtor.com, the pros' number one most trusted app. Finding a home is like dating. You're not just looking for a place to live, you're searching for the one. That's where Realtor.com comes in. Like any good matchmaker, they know exactly where to look. With over 500,000 new real listings straight from the pros every month, you could find your perfect match today. Reba here for Realtor.com, the pros' number one most trusted app.
Ranch style with a pool, barn dominium with an in-law suite, Realtor.com's got them. Modern craftsmen with a big yard and a treehouse out back,
Realtor.com will have you saying, yep, that's the one. No more swapping. It's time to start finding. Download the Realtor.com app today because you're nearly home. Make it real with Realtor.com. Pro's number one most trusted app based on August 2024 proprietary survey. Over 500,000 new listings every month based on average new for sale and rental listings. February 2024 through January 2025.
Trump administration says it has deported 152,000 since January, people suspected of being in the U.S. without permission. It's a slow start given a campaign goal to deport millions, and the government is now offering to pay people $1,000 if they self-deport. And companies in Mexico are recruiting some recent arrivals with skills, including English. The BBC's Will Grant reports from Tijuana.
Over a steady hum of activity, operators at the Easy Call Centre in Tijuana work through long lists of US phone numbers. All the agents speak fluent English, and the people at the other end of the line are none the wiser. They're talking to agents in Mexico rather than the US.
In fact, virtually every phone operator in the company is a deportee, including Easy Call Center's owner, Daniel Ruiz. We all are dealing with culture shock. We have all of our life over there. We went to school over there, watched TV over there, you know, like, brought up on American culture. And we have family over there. Born in Mexico, he grew up in the United States before he was deported for low-level drug crime in his early 20s.
Today, he runs the successful telesales company and co-founded a humanitarian organization called the Borderline Crisis Center. The latest U.S. returnee at the company is Alberto Salagan, who was deported to Tijuana in January. I just pretty much landed here.
I'm at the San Isidro border crossing, one of the busiest international border crossings in the world. For so many deportees, being returned to Tijuana with the United States still visible on the other side of the border is a harrowing experience.
Some haven't lived in this country since they were children or even babies. Nevertheless, some companies have found distinct advantages to employing deportees as staff members. So we're looking at where our agents work. This is a main area for... In particular, one company, the American Survey Company, or ASC, stands out.
It's one thing for a smaller venture like Easy Call Centre to rely on deportees, but ASC and its sister company Voxcentrics have some 550 call centre stations in Tijuana.
Whatever happened in the U.S. stays in the U.S. Nora Diaz is the chief happiness officer at the company. We understand that everybody has a past. We just need people who speak good English, good Spanish, and they're willing to learn and commit to a job. So far, the Trump administration's threat of mass deportation remains exactly that, a threat.
But it has become a powerful tool in dissuading migrants from even attempting to cross into the U.S. In Mexico, I'm the BBC's Will Grant for Marketplace. And as a readout on economic uncertainty, there's news today corporate mergers have hit a 20-year low in the weeks since the big tariff swings. In Los Angeles, I'm David Brancaccio with the Marketplace Morning Report. We're from APM, American Public Media.
Marketplace is for public good, not for profit. We count on you, our listeners, to help cover the cost of the reporting you rely on every morning. We're going to remain free and accessible to everyone. That's part of our mission. But if you're in a position to donate, we're counting on you. Give what you can right now at marketplace.org slash donate or click the link in show notes.