"Despite premature celebrations in Trump World that the tariffs did not have the immediate inflationary impact most experts expected, that honeymoon appears to be over.
On July 30, Federal Reserve Chair Jerome Powell issued a warning:
'Increased tariffs are pushing up prices in some categories of goods.'"
~ Todd Beeton
#Trump #tariffs #taxes #economy #groceries
/8
https://thinkbigpicture.substack.com/p/trump-golden-age-fools-gold
"'Near-term measures of inflation expectations have moved up on balance over the course of this year on news about tariffs as reflected in both market based and survey based measures.'
In June, the inflation rate rose to 2.7%, with the core inflation rate (excluding energy and food) at 2.9%. And we’re already seeing the impact on store shelves."
#Trump #tariffs #taxes #economy #groceries
/9
A new AP/NORC poll found that 86% of Americans feel either major or minor anxiety about grocery prices. And the cost of housing isn’t too far behind.
Per The AP’s analysis:
'About half of all Americans say the cost of groceries is a 'major' source of stress in their life right now, while 33% say it’s a 'minor' source of stress, according to the poll from The Associated Press-NORC Center for Public Affairs Research. Only 14% say it’s not a source of stress….'"
#Trump #economy #groceries
/10
Simon Rosenberg offers a collage of newspaper headlines about Trump's stepped-up tariff madness, from AP's "Trump tariffs live updates: US import taxes hit levels not seen in nearly 100 years" to New York Times' "Staggering U.S. Tariffs Begin as Trump Widens Trade War."
#Trump #economy #groceries
/11
https://www.hopiumchronicles.com/p/as-voters-reject-trump-dems-are-finding
"The 'emergency' Trump invoked to wield tariff authority is fabricated.
His new 'deals' with trading partners appear mostly fake.
The tariffs have begun to hurt our economy, boosting inflation and slowing growth.
Americans, not foreigners, pay them through higher prices."
~ John Harwood
#Trump #economy #groceries
/12
https://zeteo.com/p/maga-is-being-conned-trumps-tariffs
@wdlindsy@toad.social If that's what it takes to get rid of this clown, I'm all for it.
William Lindsey :toad:
