The Labor Department this week confirmed what a lot of Americans have been feeling: Inflation is kind of sticking around, and higher interest rates are likely to as well. We’ll look at what that means for venture capital, which was already slow to flow. Plus, the Joe Biden administration announced a $6.6 billion deal with Taiwan-based semiconductor maker TSMC to build a third production hub in Arizona. We take a look at the ongoing rollout of the CHIPS and Science Act, which makes it all possible. But first, Tesla has settled a lawsuit in the death of a software engineer who was killed driving a Tesla while using the company’s semiautonomous driving software, Autopilot. The suit put scrutiny on Elon Musk’s claims about the software.

Marketplace’s Lily Jamali is joined by Jewel Burks Solomon, managing director at Collab Capital, for her take on these stories.