This opinion piece argues that new data from the Bureau of Labor Statistics and the New York Fed show Trump's policies are directly responsible for much of the financial strain on American families. Consumer prices rose 0.6% in September, the largest monthly increase in five months, and annual inflation reached 3.7%. New York Fed research found tariffs raised consumer goods prices by 2.9 percentage points in Trump's first year, and without them prices would likely have fallen about 1%. Gasoline prices rose 34.2% over the year, and inflation-adjusted hourly earnings fell 0.7%, marking six consecutive months of year-over-year declines and leaving real wages below their level when Trump was elected in 2024. The editorial also cites Fannie Mae's projection of 7.57% mortgage rates in 2027 and criticizes Republican leaders for failing to address rising costs.
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- Under Trump , deficits remain high while borrowing costs escalate
- Under Trump , deficits remain high while borrowing costs escalate
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