What happens to government debt, the budget deficit, and the overall economy if interest rates stay elevated? For a new report, the Congressional Budget Office crunched the numbers. By 2056, public debt would grow to an eye-popping 222% of GDP. Plus: Trump administration cuts decimated soil conservation programs, a new report highlights the impact of private equity investments on climate risk, and an uneventful Trump-Xi summit ends with a promise of more talks to come.

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Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

Read the stories in today’s episode:

• TTYL? Trump-Xi talks end without much to show
• What happens to the deficit and the national debt if interest rates stay high?
• U.S. farmers lost conservation experts in Trump’s federal cuts. Now they’re hurting for help
• Private equity gets a grade on climate risks

Permian Basin oil companies are reporting strong quarterly earnings, as the Iran war keeps prices up and supply restricted. West Texas, formerly in a slump, has seen an uptick in hiring and new rigs. But oil companies are moving cautiously — they want to avoid a bust after the boom. Also in this episode, more caution: Small businesses carefully weigh workforce expansion, the U.S. invests billions to prop up the Japanese yen, and a Colorado peach farmer preps for a water shortage.

Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.

Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

Read the stories in today’s episode:

• Why did the U.S. just spend billions to prop up the Japanese yen?
• What the bond market is trying to tell us
• How small- and medium-sized firms are navigating this labor market moment
• Becoming a freelance court reporter helped this mom find herself
• High oil prices lift all boats in the Permian Basin, but companies remain cautious
• Peaches pay the bills for Western Colorado farmers, but drought makes their future uncertain

In July, the manufacturing sector grew at its fastest month-to-month rate in four years. A new tax law likely boosted company spending to some degree, but AI investment packed the biggest punch — demand is strong and the money is flowing. Also in this episode: McDonald’s suffers a sales slump, the latest JOLTS data points to a steadily improving labor market, and Kai talks to one economist behind a Trump administration investment tracker.

Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.

Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

Read the stories in today’s episode:

• Manufacturing sector benefits from continued AI demand
• Tracking down the Trump administration's $27.6 billion in investments
• Why job openings have been rising slowly this year
• McDonald's sales soften as diners spend cautiously
• Where did China's oil imports go?