Since the implementation of tariffs, many Americans have reported significant changes to their spending habits, citing rising prices on everyday goods like groceries and household items. A recent study reveals that consumers are bearing the brunt of the “expense shock,” with estimates suggesting households will spend almost $2,400 more annually due to tariffs. Many individuals have drastically altered their shopping routines, cut back on non-essential purchases, and expressed concerns about the economy. Despite promises to lower costs, the tariffs’ impact has been the opposite, forcing people to adjust their lifestyles and budgets.
Read More
According to a recent Goldman Sachs report, U.S. consumers are currently bearing as much as 55% of the costs associated with President Trump’s tariffs on imports, and that number could rise further. This assessment comes as consumer prices have increased monthly since April, with the Consumer Price Index (CPI) reaching 2.93% in August. Despite the administration’s assertion that foreign exporters will ultimately bear the cost, analysts’ findings indicate that consumers are feeling the burden, even if it is less than during the 2018 trade war. The report also notes that the potential doubling of tariffs on China and other actions could significantly increase costs, potentially reaching 70% for consumers.
Read More
Despite recent rises in inflation, exceeding the Federal Reserve’s 2% target, both the Trump administration and the Federal Reserve have downplayed its significance. While President Trump claims inflation is defeated, tariffs on imported goods are contributing to rising consumer prices, potentially eroding confidence in the central bank’s ability to keep inflation in check. Increased costs due to tariffs are already leading companies to raise prices, and potential supply chain disruptions could further exacerbate the issue. Some economists warn that if inflation persists, it could jeopardize the Fed’s credibility and lead to difficult economic consequences.
Read More
President Trump’s claim of declining grocery prices is contradicted by a recent Axios-Harris Poll. The survey indicates that nearly half of Americans find it harder to afford groceries compared to a year ago. This discontent may be fueled by rising prices for staples like eggs, ground beef, and coffee. With the majority of Americans perceiving the president as having a significant influence on the economy, these concerns could pose a challenge for the administration heading into the 2026 midterms.
Read More
This comprehensive list meticulously catalogues every state and territory within the United States, including various U.S. Armed Forces locations and overseas territories. Furthermore, it extends to encompass all Canadian provinces and territories, detailing their respective geographical divisions. The purpose of this extensive compilation is to provide a complete reference for postal codes. This information can be used for data management and analysis.
Read More
Russian government plans to raise value-added tax (VAT) to 22% in 2026, alongside other tax reforms, are expected to accelerate inflation. Deputy Governor of the Russian Central Bank, Aleksei Zabotkin, anticipates the VAT increase will add 0.6-0.7 percentage points to the consumer price index, as it is Russia’s main turnover tax. The government also plans to lower the threshold for the simplified taxation system (STS) and abolish tax breaks for IT companies. These measures, coupled with existing tax hikes and declining oil and gas revenues, are intended to fund the war against Ukraine and address a soaring budget deficit.
Read More
Global debt hits record of nearly $338 trillion, a figure that’s enough to make anyone’s head spin. It’s a staggering amount, and the sheer size of it naturally prompts a lot of questions. Like, to *whom* exactly is all this money owed? And how does such a massive sum even come about? The reality is, it’s a complex system, a web of loans and obligations that connects countries, corporations, and individuals across the globe. Some people see it as a made-up system, a game we’re all playing. And in a way, they’re right – money itself is a construct, a tool we’ve created to facilitate commerce and trade.… Continue reading
Vice President JD Vance recently addressed economic concerns, acknowledging that housing and grocery prices are too high. Despite the timing, Vance attributed the issue to the “disastrous Biden economy,” even though the Trump administration has been in power for over eight months. This statement was made amidst concerns about the struggling U.S. economy and a surge in popularity for Democratic New York mayoral hopeful Zohran Mamdani. Recent data revealed inflation rose 0.4 percent in August and 2.9 percent in the past 12 months.
Read More
President Putin has downplayed concerns about Russia’s slowing economic growth, attributing it to a deliberate effort to curb inflation and maintain macroeconomic stability, despite expectations of a slowdown from 4.3% to around 1% GDP growth. This stance echoes similar comments from the Central Bank Governor, who denies the existence of a recession, although data suggests a technical recession based on quarterly GDP declines. However, this contradicts prior statements from Russia’s Economic Minister as well as reports suggesting the government is considering increasing the value-added tax to manage its budget deficit and preserve reserves, potentially conflicting with Putin’s previous tax assurances.
Read More
The Federal Reserve lowered its key interest rate by a quarter-point, projecting two more cuts this year due to concerns about the labor market’s health. This move, the first since December, reflects a shift from focusing on inflation to employment, as hiring slows. While the Fed aims to boost growth and hiring, the decision faced dissent from a newly appointed policymaker favoring a larger cut. Despite some internal differences, officials still anticipate further rate reductions, although less than Wall Street had anticipated. The Fed faces the challenges of a weakening economy and external pressures on its independence, particularly regarding the attempt to remove a Fed governor.
Read More
John Q. Hosedrinker 
Matt Underwood