Marketplace Morning Report

It's springtime, meaning the real estate market is supposed to be popping. But fresh data from the National Association of Realtors shows seasonally adjusted sales of existing homes are actually down 3.6%. What's going on? Also on the show, Chinese exports slowed sharply last month amid energy shocks, and a surge in the cost of petrochemicals — used in plastics, fertilizers, and more — is likely to translate to higher costs on supermarket shelves.

It's almost Tax Day. And while some of us may have waited till the last minute to do our taxes, the federal government sure won't be wasting any time spending them. This morning, we're unpacking how much of your tax bill goes toward services like defense, Social Security, health care, food assistance, the national debt, and more. Plus, there's been no net job creation over the last six months, which can make the economy more vulnerable.

The U.S. has threatened a blockade of Iranian ports set to go into effect this morning. That means the supply of oil will be even more restricted than it was before. We'll dig into what all this means for oil markets. Plus, the economic consequences of the war are reshaping businesses' hiring plans stateside, too. And, there's a parade of banks releasing results this week. Investors are paying close attention.

Grocery prices on average are up about 2% compared to this time last year. But split up the food groups, and we start to see some bigger numbers. Tomatoes, lettuce, and nonalcoholic beverages (especially coffee) led the way for price increases. Meanwhile, the cost of meat and dairy declined. Why? Also: a Straight of Hormuz blockade courtesy of the U.S., and a look at how Trump's tax and spending law could impact charitable giving.

Nearly 600 Marketplace fans gathered at the Aratani Theatre in downtown Los Angeles to watch Kai Ryssdal present Marketplace Live, in partnership with LAist.

Kai was joined onstage by economics author, educator, and content creator Kyla Scanlon to talk about AI, prediction markets, Federal Reserve independence, and the war in Iran. Later, former “Marketplace Morning Report” host David Brancaccio joined Kai to discuss his experience rebuilding after the LA fire and his new job as Marketplace senior correspondent covering future effects.

Note: This show was recorded on March 29, and the situation in Iran has changed since then. Follow our latest coverage here.