Marilyn Geewax

Marilyn Geewax is a senior editor, assigning and editing business radio stories. She also serves as the national economics correspondent for the NPR web site, and regularly discusses economic issues on NPR's mid-day show Here & Now.

Her work contributed to NPR's 2011 Edward R. Murrow Award for hard news for "The Foreclosure Nightmare." Geewax also worked on the foreclosure-crisis coverage that was recognized with a 2009 Heywood Broun Award.

Before joining NPR in 2008, Geewax served as the national economics correspondent for Cox Newspapers' Washington Bureau. Before that, she worked at Cox's flagship paper, the Atlanta Journal-Constitution, first as a business reporter and then as a columnist and editorial board member. She got her start as a business reporter for the Akron Beacon Journal.

Over the years, she has filed news stories from China, Japan, South Africa and Europe. Recently, she headed to Europe to participate in the RIAS German/American Journalist Exchange Program.

Geewax was a Nieman Fellow at Harvard, where she studied economics and international relations. She earned a master's degree at Georgetown University, focusing on international economic affairs, and has a bachelor's degree from The Ohio State University.

She is a member of the National Press Club's Board of Governors and serves on the Global Economic Reporting Initiative Committee for the Society of American Business Editors and Writers.

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Economy
1:35 pm
Fri May 4, 2012

'Dejected': Some Unemployed Give Up The Hunt

People wait at a job fair in New York City's Queens borough on Thursday. While millions of out-of-work Americans continue to seek employment, others have given up looking.
Spencer Platt Getty Images

The unemployment rate slipped a notch to 8.1 percent in April, but not because employers went on a hiring spree.

Instead, the jobless rate appeared to improve because fewer people were applying for positions. Last month, the civilian labor force shrank by 342,000 people.

Economists say many of those workforce dropouts were "discouraged" workers who moved to the sidelines after months, even years, of trying to nail down jobs.

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Business
12:57 am
Tue May 1, 2012

Discovering The True Cost Of At-Home Caregiving

Maryland resident Ida Christian, 89, began showing symptoms of Alzheimer's disease in 2009. Her condition demands around-the-clock care.
Kainaz Amaria NPR

Originally published on Wed May 23, 2012 8:51 am

Walk through any nursing home, and your first thought might be: "I need to take care of Mom myself."

Few people want to turn over a loved one to institutional care. No matter how good the nursing home, it may seem cold and impersonal — and very expensive. But making the choice to provide care yourself is fraught with financial risks and personal sacrifices.

Those who become full-time caregivers often look back and wish they had taken the time to better understand the financial position they would be getting themselves into.

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Family Matters: The Money Squeeze
1:29 am
Tue April 24, 2012

Preparing For A Future That Includes Aging Parents

Natasha Shamone-Gilmore (right) attends church with her husband, Curtis Gilmore (center), and her father, Franklin Brunson, 81. Shamone-Gilmore moved Brunson into her Capitol Heights, Md., home after he developed dementia.
Kainaz Amaria NPR

Originally published on Wed May 23, 2012 8:52 am

Planning a wedding is exciting.

Mapping out a vacation is fun.

Figuring how to afford care for your confused, elderly father? That one may never cross your mind — at least, not until you need more money to care for him.

"Never thought about it," Natasha Shamone-Gilmore, 58, says about her younger self. "Never ever."

She thinks about it a lot these days. Shamone-Gilmore, a computer trainer in Maryland, now shares a modest home with her husband, 24-year-old son and 81-year-old father.

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The Two-Way
10:36 am
Tue April 17, 2012

Former 'Car Czar' Rattner Gives Dodd-Frank A Qualified Endorsement

Steven Rattner — the "car czar" when the Obama administration was restructuring the auto industry in 2009 — today spoke in favor of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

But it wasn't exactly a double thumbs up.

On a panel at an ideas conference in New York City, Rattner noted that before the financial crisis began in 2008, Wall Street was the "global leader in finance. ... But of course, it got out of control."

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Family Matters: The Money Squeeze
10:02 pm
Mon April 16, 2012

One Roof, Three Generations, Many Decisions

Ida Christian, who suffers from dementia, gets help from her granddaughter, Yolanda Hunter (left), in blowing out the candles on her birthday cake. Yolanda quit her lucrative job to become Ida's full-time caregiver.
Kainaz Amaria NPR

Originally published on Wed May 23, 2012 8:52 am

Part of the Family Matters series

The Great Recession slammed into all age groups, flattening the career dreams of young people and squeezing the retirement accounts of middle-aged savers. It financially crippled many elderly people who had thought they could stand on their own.

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The Two-Way
4:22 pm
Thu March 22, 2012

Or Maybe They're Just Throwing Darts

Lana Turner, center, is an interested listener as actress Ava Gardner leans over her to chat with Fernando Lamas, who is famous for saying, "It's better to look good, than feel good."
AP

Originally published on Thu March 22, 2012 5:14 pm

Why do economists keep getting it wrong?

For months, the job market's strength has been exceeding economists' predictions. It happened again today: the Labor Department's weekly report on first-time jobless claims came in at just 348,000 — the lowest level in four years.

Most economists had predicted about 355,000 people had applied for unemployment benefits in the week ended March 17. So why do they keep missing the mark?

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Looking Up: Pockets of Economic Strength
4:23 am
Sun March 11, 2012

Signs Of Recovery Emerge After A Long Downturn

While parts of the U.S. economy struggle, other sectors are seeing growth. Here, job seekers talk with recruiters at a career fair in Manhattan last month.
Spencer Platt Getty Images

Originally published on Mon March 12, 2012 8:08 am

Millions of Americans are still searching for jobs or facing home foreclosures. For them, the Great Recession drags on into its fifth year.

But for others, the U.S. economy is looking up.

Companies in certain sectors are buying equipment again and hiring workers. These pockets of strength — found in energy, technology, manufacturing, autos, agriculture and elsewhere — are helping invigorate the broader economy.

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The Two-Way
12:40 pm
Wed February 29, 2012

Will Fed Chairman Bernanke Be Right This Time?

Federal Reserve Chairman Ben Bernanke during his congressional testimony today.
Chip Somodevilla Getty Images

No one ever said economic forecasting was easy:

On the last day of February 2007, Federal Reserve Chairman Ben Bernanke told Congress that "the fundamentals are very strong" for the U.S. economy.

And about those problems starting to show up in the housing market? "We don't see it as being a broad financial concern or a major factor in assessing the course of the economy," he said back then.

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The Two-Way
2:33 pm
Tue February 28, 2012

Airline Trade Group: The Business Of Flying Is Tough

Originally published on Tue February 28, 2012 3:02 pm

For airlines, it ain't easy making a buck. In fact, even a penny is out of reach.

Airlines for America, a trade association for major U.S. carriers, says the industry earned less than half a penny in profits for every $1 of revenue generated during 2011.

The poor financial performance wasn't a fluke. Over the past decade, airlines have lost a collective $50 billion.

On Tuesday, the trade group said something has got to change. Association CEO Nicholas Calio sat down with journalists to explain a new industry push for a "National Airline Policy."

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Your Money
6:49 am
Mon February 27, 2012

Warm Winter Is Helping Consumers Cope

A woman takes in the sunshine while reading in Central Park on Feb. 1 in New York City, where temperatures topped 60 degrees.
Mario Tama Getty Images

Originally published on Mon February 27, 2012 12:14 pm

The rapidly rising price of gasoline has not stalled the economic recovery — at least not yet. And one reason for that may be found in fields of daffodils.

This year's unusually warm winter has held down heating costs, helping consumers spend less on their monthly utility bills.

"Weather plays a big role" in determining what's left in your checking account as winter wraps up, said Jonathan Cogan, a spokesman for the Energy Information Administration.

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Economy
5:11 am
Fri February 17, 2012

Does The Strengthening Economy Still Need Congress?

Employment has been rising in recent months, but most economists say Congress should keep trying to boost consumer spending.
Mark Lennihan AP

Originally published on Fri February 17, 2012 10:25 am

Congress on Friday approved legislation to continue a payroll tax holiday and extend benefits for the long-term unemployed.

The goal is to make sure Americans have enough spending money to keep the recovery from faltering. President Obama is expected to sign the legislation.

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The Two-Way
3:29 pm
Wed February 15, 2012

Robert Rubin: Economic Future Is Most 'Uncertain' He's Ever Seen

Former Treasury Secretary Robert Rubin says the U.S. economic outlook is the most "uncertain" he has seen in his lifetime.

Given that he was born during the Great Depression (1938), and lived through the Cold War, the 1970s' inflation, a brutal 1980-82 recession and the recent global financial crisis, that may be saying a lot.

Rubin, who was President Clinton's Treasury secretary, is now co-chairman of the Council on Foreign Relations. He spoke Wednesday in Washington, D.C., at a conference called "American Competitiveness: What Works," sponsored by General Electric.

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Economy
11:53 am
Fri February 3, 2012

Have Economists Got It Wrong About The U.S.?

Federal Reserve Chairman Ben Bernanke pauses during a hearing before the House Budget Committee on Feb. 28, 2007.
Alex Wong Getty Images

Originally published on Fri June 22, 2012 9:23 am

Five years ago, a subprime mortgage firestorm was melting down the U.S. economy, but most analysts didn't see it happening.

Federal Reserve Chairman Ben Bernanke, testifying before Congress in February 2007, said the housing sector "is a concern, but at this point we don't see it as being a broad financial concern or a major factor in assessing the course of the economy."

If he and the vast majority of economists were blind to the economic and financial calamity taking shape then, could they also be missing the start of a huge economic boom now?

A boom? Really?

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The Two-Way
12:12 pm
Wed January 25, 2012

Keystone Pipeline's Connection To Payroll Taxes? It's Up For Debate

Originally published on Wed January 25, 2012 1:36 pm

The Keystone XL pipeline is supposed to connect Canada to Texas. But does it also have to connect to a payroll tax holiday?

White House Senior Advisor Valerie Jarrett, speaking today on NPR's Tell Me More, said no link should be made because the oil pipeline is not "germane" to legislation involving a tax holiday.

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Business
10:32 am
Tue January 24, 2012

Davos: A Super Bowl For Smart, Rich People

A guard stands next to a logo of the World Economic Forum at the Congress Center in the Swiss resort of Davos.
Fabrice Coffrini AFP/Getty Images

When winter reaches its dreariest depths each year, Americans cheer themselves by planning Super Bowl parties. They want to reconnect with friends, eat, drink and share observations about who is likely to win — or lose.

But if you are very smart or very rich or even better, both — then you break up the mid-winter blahs by going to Davos.

That's the Swiss town where the financially, intellectually and politically powerful convene each year to reconnect with friends, eat, drink and share observations about winning and losing.

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Business
5:28 am
Thu January 19, 2012

So, Um, What Is A Private Equity Firm?

Before entering politics in the 1990s, Romney co-founded Bain Capital, one of the nation's largest and most profitable private equity funds.
David L. Ryan Boston Globe via Getty Images

Originally published on Thu January 19, 2012 1:57 pm

In the run-up to Saturday's GOP presidential primary in South Carolina, candidates have clashed over the role of Bain Capital — a firm that either creates or kills jobs, depending upon whom you believe.

Front-runner Mitt Romney sees the bright side. Before entering politics in the 1990s, he co-founded Boston-based Bain Capital, one of the nation's largest and most profitable private equity funds. He has said he created 100,000 jobs while at Bain.

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It's All Politics
11:00 am
Thu January 12, 2012

U.S. Chamber President Criticizes GOP's 'Intramural' Battle Over Bain

U.S. Chamber of Commerce President Tom Donohue at a press conference Thursday in Washington.
Brendan Smialowski Getty Images

Originally published on Thu January 12, 2012 12:57 pm

The "Battle Over Bain" has become a hot topic at the U.S. Chamber of Commerce, a key player in politics.

U.S. Chamber of Commerce President Tom Donohue says he is "disappointed" that some GOP presidential candidates are attacking front-runner and former Massachusetts Gov. Mitt Romney for his work at Bain Capital in the 1990s.

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Business
1:38 pm
Tue January 10, 2012

The Optimists' Turn: EU's Crisis May Not Be So Bad

A woman checks stock indexes of a bank in Milan. Some analysts say the turmoil in Europe may actually help the U.S. economy.
Luca Bruno AP

Originally published on Tue January 10, 2012 2:25 pm

Europe's debt crisis is a huge threat to the U.S. economy. Or is it?

For many months, economists have been warning that Europe's debt troubles could spiral into a massive recession that drags down U.S. growth.

But some analysts say those fears may be wildly exaggerated. The U.S. economy has been "decoupling" from Europe for some time, and wouldn't be significantly harmed by any recession taking shape over there, they argue.

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Crisis In The Housing Market
8:46 am
Fri January 6, 2012

Can Construction Help Build The Recovery?

A construction worker walks on the roof of a newly built home in Westport, Conn. The construction sector, which has been battered by the depressed housing sector, added 17,000 jobs in December.
Spencer Platt Getty Images

Originally published on Fri January 6, 2012 9:05 am

Of all the good news in the December unemployment report, perhaps the most encouraging sign for the 2012 labor market was the increase in construction jobs. That sector has lost more than 2 million jobs as the housing market imploded 5 years ago, but increases in construction hiring and spending could be cautious signs of a turnaround, analysts say.

Overall, employers created 200,000 jobs last month, sending the U.S. unemployment rate down to 8.5 percent, the Labor Department said Friday.

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Business
3:41 am
Sun January 1, 2012

2012: A Better Year, Unless Europe's Debt Blows It Up

German Chancellor Angela Merkel addresses journalists at EU headquarters in Brussels in December. It's possible that European leaders will come up with ways to manage the region's debt crisis in the new year, but the worst case scenarios are dire.
John Thys AFP/Getty Images

Last New Year's Day, most economic forecasters were predicting a good year ahead. But 2011 turned out to be another disappointment for stock investors and home sellers, and a discouraging time for job seekers.

Now, as 2012 begins, economists are hoping their crystal balls are working a bit better. Most are seeing a brighter picture.

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Economy
8:46 am
Thu December 22, 2011

What's The Economic Impact If The Tax Break Dies?

Mary Polocy (left) stands in line to enter a career fair in Independence, Ohio, in November. Congress has yet to agree on a measure that would extend unemployment benefits.
Tony Dejak AP

Originally published on Thu December 22, 2011 1:28 pm

Most political analysts say that Congress and President Obama will eventually agree to extend the payroll tax cut into 2012 – even if it takes another month of arguing.

But what if Congress really can't get it done?

Economists are fairly unanimous in saying growth would be slowed — at least in the short term — if Congress were to fail to pass legislation to extend the tax holiday and include two other proposals to: 1) continue federal help for the long-term unemployed and 2) block a 27 percent Medicare pay cut for doctors.

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Business
10:02 am
Tue December 20, 2011

Investors Endure Another Disappointing Year

For Americans saving for retirement, 2011 was another lackluster year, filled with lots of risks but few rewards.

Savers who tried to avoid risks by putting money into federally insured savings accounts earned almost no interest. The money just sat there, even as inflation ate away at its value, with consumer prices rising nearly 3.5 percent this year.

And for those who invested in a broad array of U.S. stocks, the results were — at best — mixed.

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Still No Job: Over A Year Without Enough Work
10:01 pm
Sun December 11, 2011

The Impacts Of Long-Term Unemployment

Originally published on Mon December 12, 2011 12:55 pm

The country has been trying to recover from the Great Recession for three years. But the U.S. job market remains weak, leaving roughly 5 million workers unemployed for a year or more.

The Kaiser Family Foundation teamed with NPR to conduct a survey, seeking to describe the experiences of those long-term unemployed workers. Here are some highlights of the survey findings.

The long-term unemployed tended to be low-wage workers.

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The Two-Way
3:49 pm
Wed December 7, 2011

'Dr. Doom' Fears Another Financial Crisis Is Coming

Nouriel Roubini.
Tony Ashby. AFP/Getty Images

Originally published on Wed December 7, 2011 5:16 pm

The economist known as "Dr. Doom" for his 2008 recession prediction says the world may be headed for another financial crisis.

New York University professor Nouriel Roubini said Wednesday that Europe's debt troubles are so profound that the continent is falling into a "recession that will get worse and worse."

And a deep recession likely will lead to another financial panic that could spread around the world — an outcome that will be " very painful," he said.

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Business
4:42 am
Tue December 6, 2011

Why Americans Spend Too Much

The 2008 financial crisis made it clear: Americans save too little, spend too much and borrow excessively, says Princeton professor Sheldon Garon. In Western Europe and East Asia, governments aggressively encourage people to save through special savings institutions and savings campaigns.

Garon has just released a new book, Beyond Our Means: Why America Spends While the World Saves. He discussed his findings with NPR:

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Economy
6:26 am
Sun December 4, 2011

How Europe's Troubles Could Become Ours Too

Daniel Kryger, left, works with fellow traders on the floor of the New York Stock Exchange. If the European Union can't agree on a plan, its debt crisis could lead to the kind of financial chaos that economists say surely would hurt the United States.
Richard Drew AP

Originally published on Sun December 4, 2011 1:04 pm

This week, European leaders will huddle in intense meetings, trying to work out a comprehensive plan to solve crushing debt problems.

Higher stakes are hard to imagine.

If all goes well at a summit in Brussels, the political leaders will make an announcement Friday, spelling out their long-term commitment to a plan to loosen a choking tangle of debt troubles. If they can't agree on a plan, the EU debt crisis could lead to the kind of financial chaos that economists say surely would hurt the United States.

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Economy
11:23 am
Mon November 28, 2011

Black Friday Sales Suggest A Strong Cyber Monday

Workers process orders at an Amazon.com fulfillment center n Swansea, Wales, as they prepare for their busiest time of the year.
Matt Cardy Getty Images

Shoppers stormed retail stores this past weekend, and now on Cyber Monday, many are clicking their way to more purchases.

"I am definitely a price-based shopper," said Sarah Kelly, a 28-year-old Washington, D.C., resident who bought a KitchenAid mixer Monday morning as a holiday gift. She also bought shoes, clothes and other presents after waking early to search for online coupons and shipping offers. "I only purchase if the shipping is free," she said.

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Politics
6:30 am
Thu November 17, 2011

Supercommittee Scenarios: How The Debt End Game May Play Out

Supercommittee member, Senate Finance Committee Chairman Max Baucus, D-Mont., third from left, holds his hand out at a hearing Oct. 26. From left are, Supercommittee Co-Chair Sen. Patty Murray, D-Wash., Sen. Jon Kyl, R-Ariz., Baucus, Sen. Rob Portman, R-Ohio, and Sen. John Kerry, D-Mass.
J. Scott Applewhite AP

Originally published on Thu November 17, 2011 12:40 pm

The congressional supercommittee — charged with developing a plan for cutting the nation's deficits by $1.2 trillion over 10 years — is days away from its Thanksgiving deadline.

But at this point, no deal is on the table, and pessimism is growing. Economists are worried: Failure to reach a deal would add yet another cloud of uncertainty to an already-dark outlook.

The supercommittee grew out of a heated fight in August in Congress over whether to raise the nation's debt ceiling.

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Politics
6:30 am
Thu November 17, 2011

Automatic Cuts: Necessary Medicine Or Doomsday?

Defense Secretary Leon Panetta has warned Congress that automatic across-the-board cuts to the Pentagon's budget would "invite aggression from U.S. adversaries."
Mark Wilson Getty Images

As the congressional "supercommittee" runs out of time to reach a deficit-cutting deal, the word "sequestration" is being spoken more and more in Washington.

Depending upon the speaker's political views, the word can be spit out as a curse word, or intoned as a blessing. But love it or hate it, "sequestration" may turn out to be a word that dramatically changes the world's most powerful military, and reshapes domestic programs for public health, education, the environment and much more.

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Europe
2:00 am
Mon November 14, 2011

German Economy Shines As Euro Loses Luster

Workers prepare new Volkswagen Golf cars at a factory in Wolfsburg, Germany.
Sean Gallup Getty Images

As the debt crisis in Europe deepens, Americans may be feeling sorry for Germany.

They see that Germans, who generally work hard and spend carefully, are now being pushed to bail out their debt-ridden partners in the eurozone.

But there's another side to the story.

Turns out, sharing a common currency with a group of fiscal losers has its benefits. The German economy gained strength over the past two years in large part because the European debt crisis weakened the euro. That made German exports more attractive to customers around the world.

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