Cardiff Garcia

Copyright 2019 NPR. To see more, visit https://www.npr.org.

AUDIE CORNISH, HOST:

Copyright 2019 NPR. To see more, visit https://www.npr.org.

MARY LOUISE KELLY, HOST:

Now, are millennials really as bad as some people say? Cardiff Garcia and Sally Herships from our daily economics podcast The Indicator from Planet Money say, maybe not.

Copyright 2019 NPR. To see more, visit https://www.npr.org.

MARY LOUISE KELLY, HOST:

Copyright 2019 NPR. To see more, visit https://www.npr.org.

AUDIE CORNISH, HOST:

Copyright 2019 NPR. To see more, visit https://www.npr.org.

AILSA CHANG, HOST:

The global market for diamond jewelry is worth $80 billion a year. Money is flooding into this industry, but why when demand for diamonds isn't as lustrous as it once was? Cardiff Garcia and Sally Herships have more from the Planet Money podcast The Indicator.

Copyright 2018 NPR. To see more, visit http://www.npr.org/.

AILSA CHANG, HOST:

Copyright 2019 NPR. To see more, visit https://www.npr.org.

ARI SHAPIRO, HOST:

Copyright 2018 NPR. To see more, visit http://www.npr.org/.

AUDIE CORNISH, HOST:

Copyright 2018 NPR. To see more, visit http://www.npr.org/.

KELLY MCEVERS, HOST:

Today's Planet Money indicator is 4.55 percent. The Federal Reserve said just this afternoon that the American economy is at full employment when the unemployment rate is 4.55 percent.

The Fed updates this estimate every few months. And for years, it's been getting the number wrong.

Today on the show, what is full employment, why is it so hard to pin down, and most importantly, are we there yet?

One of the things we do at the Indicator is steal stuff we like from other podcasts. Today, we're stealing from Tyler Cowen. He's an economist and public intellectual who has his own podcast (of course).

It's an interview show, and in the middle of every episode Tyler does this thing we love: He goes through a list of subjects and asks the guest to say whether each subject is overrated or underrated, and to explain why.

When Republicans launched their tax push this fall, they said, here's the plan: We are going to lower taxes for people and companies. And part of the way we're going to pay for that is by getting rid of loopholes and special deductions and lots of little perks hiding in the tax code.

Today on the show: What happened to that plan, and what it says about the way our tax code works.