After 60 days of Trump's war in Iran, people feel the worse they've felt about the economy in 74 years of record keeping.
They have every right to.
Skimpflation - when companies shrink their products but raise their prices - has jumped across the pond, hitting beloved British groceries.
As grim as the state of inflation & stagnation are, the worst is yet to come.
The data is clear: Trump’s illegal war in Iran is a disaster for Americans’ budgets at home. It’s no wonder Trump’s economic disapproval ratings are at an all-time high.
Our statement on today's PCE
JUST IN: PCE Inflation jumped to 3.5% in March, the highest in three years (since May 2023). This is a direct result of the war in Iran. And the pain will almost certainly be worse in April and (likely) May.
Core PCE Inflation (excluding food and energy) jumped to 3.2% -->
Want to know just how subservient we can expect Kevin Warsh to be at the Fed, and what Jay Powell's favorite band is? See @ENPancotti of @Groundwork on @majorityfm with @SamSeder and @EmmaVigeland.
Https://www.youtube.com/live/h96NKm7u5xA?t=1689&si=BWgXiQFIufqxqxQ7
New York’s first-ever deputy mayor for economic justice, @JulieSuLabor, released new priorities:
In: Affordable housing, free childcare, & city-owned grocery stores.
Out: Billions in tax breaks & incentives to big developers & employers, unless they improve the lives of working
American workers are bearing the burden of Trump’s expensive and unstable economy.
The Federal Reserve's hands are effectively tied as Trump's mismanagement of the economy batters consumers & businesses alike.
Our statement featuring @ENPancotti 👇
It's been 60 days of Trump's war with Iran - and the affordability crisis has only gotten worse.
Airfare, groceries, and gas are just a few of the bills piling up for working families - with no end in sight.
JetBlue accidentally admitted what we already knew: they're using surveillance to charge consumers the absolute most they can to buy a ticket.
It might not be surprising, but it is frustrating. Even worse? It's not just JetBlue - it's not even just airline companies.
A retired firefighter in Pennsylvania put it perfectly: "I have three diesel pickup trucks I don't want to fill up anymore. That is the issue."
Things cost too much & nobody seems to be fixing it.
Voters don't just want someone to blame — they want solutions.
oh man @DKThomp do we have the white paper for you
.@ezraklein and @DKThomp are spot on: you can't solve the housing crisis without addressing financing.
It's clear: we can’t deregulate our way to affordability.
Companies tell us electronic shelf labels are just about "efficiency."
Then why are they after patents for surveillance pricing, acquiring AI pricing companies, and running secret experiments on millions of shoppers?
It's not just in the U.S . - they're now bringing these
NEW: Gas prices just broke a new record.
Thanks to Trump's war with Iran, gas prices are averaging $4.18/gallon, with prices pushing over $6/gallon in some states.
Predictably, oil companies are thrilled and bragging about their profits.
HUGE shoutout to DOGE for cutting waste, fraud, and — wait, sorry, something is just coming in
