Bank of America analysts assert that President Trump’s tariffs have undeniably increased consumer inflation. They estimate tariffs account for 30 to 50 basis points of the core personal consumption expenditure inflation rate. Furthermore, the analysts suggest that consumers have absorbed approximately 50 to 70% of the overall tariff costs. This indicates that tariffs could continue to drive inflation upward in the coming months.
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A recent YouGov/Economist survey reveals that Donald Trump’s approval rating has plummeted to a record low, with 57% disapproving of his job performance. This net approval of minus 18 is the lowest of his second term, reflecting widespread dissatisfaction with his handling of the economy, inflation, and immigration. Having initially enjoyed positive economic approval, Trump’s support has eroded significantly in these areas. Notably, a majority across key demographics, including men, women, Hispanics, and young voters, disapprove of his presidency despite his claims of high approval and downplaying concerns about economic issues.
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Argentines vote in high-stakes test of Milei’s libertarian vision, a referendum on a radical economic experiment that’s been anything but straightforward. The feeling around his leadership is mixed, to put it mildly. Some see a potentially disastrous path, drawing parallels to the controversies surrounding figures like Elon Musk, highlighting concerns about rugged individualism and the potential for a kleptocracy.
The core of the problem seems to be the economic reality. While inflation has slowed, a direct result of cuts to social programs and subsidies, the economy itself has stalled. The value of the peso has plummeted, despite promises of external support, and that’s a heavy weight on the shoulders of the average citizen.… Continue reading
The Bureau of Labor Statistics reported a 3% annual consumer price growth in September, slightly exceeding August’s 2.9%. While the monthly rate fell from 0.3% to 0.2%, key categories experienced increases. This report, released despite the government shutdown, has implications for the Federal Reserve, which is expected to lower its benchmark rate. Though the inflation rate remains a concern, experts predict fewer interest rate cuts in the future than initially anticipated.
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White House says no inflation data release likely next month, and the immediate thought that comes to mind is… well, it must be bad. Like, really bad. You know, we’ve seen this before, haven’t we? It’s a pattern. Don’t release the numbers, pretend everything’s fine, and hope the public doesn’t notice the ever-increasing prices at the grocery store or the gas pump. It’s the old “if you don’t test, you don’t get cases” strategy, repurposed for economic data. It’s almost comical in its audacity, but also deeply concerning. It’s like that quote, “We’re winning so hard we don’t have to tell you how hard we’re winning!… Continue reading
The U.S. national debt has reached a record $38 trillion, the fastest accumulation of a trillion dollars outside of the COVID-19 pandemic. Experts warn this accelerating debt leads to higher inflation, impacting Americans’ purchasing power and increasing borrowing costs. This surge in debt, compounded by rising interest costs, is a concerning sign that lawmakers are not addressing their fiscal responsibilities. The Joint Economic Committee estimates that the total national debt has grown by $69,713.82 per second for the past year.
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The U.S. national debt has surged past $38 trillion, reaching a record high that underscores the rapid accumulation of debt, marking the fastest trillion-dollar increase outside of the COVID-19 pandemic. This growing debt could lead to higher inflation, eroding Americans’ purchasing power and impacting future generations’ ability to achieve financial goals like home ownership. Experts warn that increased debt results in higher borrowing costs and potentially reduced wages, as government spending continues to grow. Amidst these concerns, the Trump administration emphasizes its efforts to slow spending and reduce the deficit.
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Canada’s inflation rate rose to 2.4% in September, exceeding expectations, primarily due to climbing grocery prices and slower declines in gas and travel tour costs. Grocery prices increased by 4% year-over-year, influenced by pricier fresh produce and sugary items, while rental prices also contributed to inflationary pressures. Despite the overall increase, gas and travel tour prices fell at a slower pace compared to the previous year. Economists suggest the Bank of Canada’s upcoming interest rate decision will be more complex than anticipated, with potential for further rate cuts amidst conflicting economic indicators.
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Eastern Canadian provinces are experiencing a surge in gas prices, prompting drivers to queue at gas stations in anticipation of further increases. This price hike is impacting consumers across the region, causing a scramble to fill tanks before costs escalate. The situation is evident in areas like Mississauga, Ontario, where long lines of vehicles were observed at gas stations on Tuesday, February 13, 2024. These rising prices are creating a noticeable financial strain for residents.
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John Q. Hosedrinker 
Matt Underwood