Donald Trump’s recent public appearances have shifted focus away from economic issues, despite his past campaign promises to curb inflation. This change coincides with positive economic indicators under President Biden, including low unemployment and inflation. However, Trump’s proposed policies, such as tariffs, could negatively impact the economy in the long term, a point Democrats are increasingly emphasizing. Democrats aim to highlight this potential economic downturn as Trump’s responsibility, framing any future economic woes as a direct consequence of his actions.
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December’s jobs report revealed a robust 256,000 job increase and a decrease in unemployment, defying expectations and bolstering President Biden’s claims of a strong economy. This unexpected surge in growth, occurring despite high interest rates, lessens the likelihood of further rate cuts by the Federal Reserve, potentially impacting consumers and businesses. While the economy shows strength with low unemployment and GDP growth exceeding 3 percent in four of the last five quarters, inflation remains above the Fed’s target, and high interest rates persist. Consequently, President Biden leaves office handing a generally strong, albeit complex, economic legacy to his successor.
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A New York court ruled that Robert F. Kennedy Jr. illegally voted in New York while residing in California, a claim supported by public records and witness testimony. This action is criticized by Accountable.US, who question Kennedy’s fitness for public office given his apparent disregard for the law. The ruling adds to concerns surrounding several controversial cabinet nominees for the incoming Trump administration. Kennedy’s team has not yet responded to the allegations.
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Despite initial skepticism surrounding his unorthodox policies, President Javier Milei successfully eliminated Argentina’s fiscal deficit and curbed inflation, achieving remarkable economic stability. However, this success comes at a cost, with a rise in poverty and concerns about the long-term sustainability of his agro-export-focused model. While Milei remains popular, his continued success hinges on delivering broader economic growth and improved living standards for Argentinians. The future of his presidency depends on addressing the widening gap between economic recovery and social well-being.
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Drugmakers are set to raise prices on over 250 medications in the US starting January 1st. This news has unsurprisingly sparked widespread outrage and frustration, especially given the timing – just as many are facing economic challenges. The increases, it’s important to note, apply to list prices. These are the prices before rebates and discounts are factored in, meaning pharmacy benefit managers and other intermediaries will likely still receive significant concessions while consumers bear the brunt of the increase.
This raises immediate questions about fairness and accessibility. Many have voiced concerns that those who rely on these medications for chronic or rare conditions will struggle to afford the higher costs, potentially facing life-altering consequences.… Continue reading
Consumers are finally grappling with the potential for significantly worsened inflation under a Trump administration. The realization is dawning that his economic policies, far from alleviating rising prices, could exacerbate the problem, leading many to preemptively stockpile goods in anticipation of a financially challenging period.
This isn’t a sudden epiphany for everyone, of course. Some segments of the population, perhaps those who consistently voted for Trump, might remain unconvinced. However, a growing awareness is spreading, fueled by news reports and analyses highlighting the potential negative impacts of Trump’s proposed policies.
The concern isn’t unfounded. Trump’s past pronouncements and proposed policies, such as tariffs, threaten to increase the cost of everyday goods, affecting everything from food and clothing to automobiles and appliances.… Continue reading
Economic forecasts are dimming due to President Trump’s protectionist trade policies, specifically his threats of widespread tariffs on imports. These threats, coupled with already high interest rates, are expected to hinder capital investment and slow GDP growth. While some groups predict modest manufacturing growth, others, like Vanguard, foresee a significant decrease in GDP, potentially falling to as low as 2 percent depending on the extent of Trump’s trade actions. Trump’s claims of economic success appear contradicted by these independent analyses.
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In December, the Conference Board’s Consumer Confidence Index plummeted 8.1 points to 104.7, falling below expectations and marking a sharp reversal from the previous two months. This decline was largely driven by a 12.6-point drop in the Expectations Index to a five-month low of 81.1, nearing the recessionary threshold of 80. Consumer concerns cited included political uncertainty and the anticipated impact of tariffs on the cost of living, outweighing any potential job creation benefits. The significant drop in consumer confidence is reflected in Walmart’s stock decline, prompting speculation of an impending recession.
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Addressing Russia’s economic challenges during his annual “Direct Line” Q&A, President Putin acknowledged high inflation, currently around 9.3%, driven by factors including rising food prices, a weaker ruble, and increased military spending. While blaming international sanctions for contributing to price increases, he also implied criticism of the central bank’s approach, suggesting alternative methods to curb inflation. Despite these concerns, Putin expressed confidence in the economy’s overall performance, projecting growth of 3.9-4% this year and 2-2.5% in 2024, contrasting with the IMF’s more conservative forecast. The government and central bank are tasked with managing a “soft landing” for the economy.
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The Federal Reserve’s announcement of fewer-than-expected interest rate cuts in 2025 triggered a significant market downturn, with the S&P 500 experiencing one of its worst days of the year, falling 2.9%. This decision, driven by a robust job market and rising inflation, contrasts with earlier projections of more substantial cuts. The resulting increase in Treasury yields negatively impacted stocks, particularly those of smaller companies heavily reliant on borrowing. The shift reflects the Fed’s cautious approach amid economic uncertainties, including those potentially stemming from the incoming administration’s policies.
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John Q. Hosedrinker 
Matt Underwood