A green light for Boeing

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Kimberly Adams (0:31)

After years of delays, a green light for Boeing. And this spooky season, what are you afraid of in the economy?

From Marketplace in Washington, I'm Kimberly Adams. The Federal Aviation Administration is expected to announce today that it has certified a new Boeing jet. That's according to Reuters. Boeing was supposed to start delivering at 737 Max 10 back in 2020, but it's been delayed by years of technical problems. Marketplace's Henriette is here with more. Good morning, Henri.

Henriette (1:02)

Hey, Kimberly.

Kimberly Adams (1:03)

So what is the Max 10 and why has it been delayed so long?

Henriette (1:08)

It's the largest version of Boeing's line of single-aisled jets. It can hold up to 230 passengers. The company has been developing this series of planes for about 15 years, but they've had a lot of problems. You might remember hearing about the Max 8 That's a smaller version of this jet. It went into service almost a decade ago, but two of the jets crashed in 2018 and 19, killing nearly 350 passengers. Those crashes grounded the Max for nearly two years. Then in 2024, a door plug blew out mid-flight from a Max 9 jet. That led to more scrutiny and delays. And on top of all that, regulators discovered a software glitch this year, but determined that it's not a flight safety issue. And that cleared the way for the Max 10 to finally move forward.

Kimberly Adams (1:53)

What will federal certification mean for Boeing and its airline customers?

Henriette (1:58)

So it'll mean the company can soon start delivering these jets to major airlines, which have ordered more than 1,400 of them. And one of the big selling points of the Max 10 for airlines is fuel efficiency. Boeing says Max jets use about 20 percent less fuel than their predecessors and jet fuels become a major cost for airlines this year.

10 is the last of the Max series to get federal certification. And it could be really useful to airlines because of its larger capacity. It's really built to handle high demand routes.

Kimberly Adams (2:24)

Marketplace's Henry Epp. Thank you, Henry.

Henriette (2:27)

You're welcome.

Kimberly Adams (2:28)

Boeing is set to release third quarter earnings next week. One thing we've been looking out for in this week's earnings is what impact the wars, high inflation and high borrowing costs will have on company results. I put that to Amanda Agadie, Chief Investment Officer at PNC Financial Services Group.

Amanda Agadie (2:45)

With inflation creeping back in as a function of the conflict and a number of other forces, and also rates rising, does that change the nature of guidance at all?

I don't know that any of that is necessarily going to show up in results this quarter, but I'm curious to see whether any of the companies start shifting their guidance for either the balance of the year, Q4, or even kind of setting the stage for 2027 So for me, it's kind of looking a little bit further out.

Kimberly Adams (3:14)

Amanda Agadie at PNC Financial Services Group.

There's plenty in the news about the economy that can honestly be kind of scary. Turns out Americans are more afraid of what artificial intelligence might do to politics or the economy than they are about cyber terrorism, climate change, or not having enough money for the future. That's according to a new survey out this morning. Marketplace Future Effects correspondent David Brancaccio joins us with more. Hi, David.

David Brancaccio (4:00)

Morning.

Kimberly Adams (4:01)

So AI is climbing the ranks in this chart of all fears?

David Brancaccio (4:05)

Yeah, it is. Chapman University in California does this scientific survey of what we fear and how much it frightens us. Now for the first time, fears of artificial intelligence doing bad things are now among our top 10 anxieties, specifically AI harming the political process is at number three, just behind fear of another world war and the fear of AI hurting the economy. Number seven, behind fear of a more general financial collapse, a Chapman sociologist who is a leader of the study points out that this isn't robots stole my job. It's worry about the systemic effects of AI financially and politically.