Assessing the Trump economy
How are you feeling about the economy? New reports show tariffs might be partly to blame for mild price increases, but consumers are feeling good despite rising inflation.
Listen 52:01
A Tariff Free sign to attract vehicle shoppers is at an automobile dealership in Totowa, N.J., on April 30, 2025. (AP Photo/Ted Shaffrey)
New inflation numbers show tariffs may finally be seeping into the cost of consumer goods. Prices are up on clothing, appliances, furniture and other products that rely heavily on imports. At the same time, President Trump is publicly at odds with Federal Reserve Chair Jerome Powell over interest rates and the housing market — a major pain point for Americans.
Job numbers look good, though, and even with rising inflation, consumer confidence has reached a remarkable 5-month high. Shoppers and businesses are feeling some resilience, defying the economic downturn that many experts predicted. As many look on the bright side of the latest forecasts, is tariff-induced sticker shock around the corner?
On this episode of Studio 2, we’ll break down the latest on jobs, housing, inflation and more.
Guests
Heather Long, Chief economist at Navy Federal Credit Union
Patrick Harker, Former President of the Federal Reserve Bank of Philadelphia and professor at The Wharton School
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