What A Day: Inflation Is Up Again. What Does That Mean For Your Wallet?
Hosted by Jane Coaston, Crooked Media's "What A Day" delves into the pressing issues shaping our daily lives. In the February 13, 2025 episode titled "Inflation Is Up Again. What Does That Mean For Your Wallet?", host Jane Coaston navigates the complex landscape of the current economy, political maneuvers, and environmental policies. This summary captures the episode's key discussions, insights, and conclusions, enriched with notable quotes and timestamps for context.
1. Economic Outlook and Inflation Concerns
Inflation Trends and Public Perception
The episode opens with Jane Coaston addressing the fluctuating perceptions of the economy amid the 2024 presidential election. Despite indicators like the stock market and unemployment rates, many Americans feel the pinch in their personal finances. A recent Consumer Price Index (CPI) spike has reignited fears of rising inflation, prompting immediate reactions from the Trump administration.
- Quote: “We did receive those numbers and they were worse than expected, which tells us that the Biden administration indeed left us with a mess to deal with.”
— Caroline Levitt, White House Press Secretary [00:02:42]
Diverging Political Views on the Economy
A Pew Research Center study highlighted the partisan divide in economic expectations: 64% of Democrats foresee worsening economic conditions, while 73% of Republicans are optimistic about improvements.
- Quote: “You probably won't be surprised to learn that this is a big decline for Democrats from last year and a big increase from Republicans.”
— Jane Coaston [01:51]
Expert Analysis with Victoria Guida
To unpack these developments, Jane converses with Victoria Guida, an economics correspondent for Politico.
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Key Insights:
- Current Inflation Status: Inflation has decreased from a peak of 9% in 2022 to 3%, showing significant improvement but still above the Federal Reserve's target of 2%.
- Trump Administration's Influence: While the economy typically doesn't shift drastically in three weeks, Trump's early tariff threats could have influenced recent price adjustments. However, seasonal price increases in January complicate attributing the CPI spike directly to Trump’s policies.
- Presidential Control Over Prices: Guida emphasizes that presidents have limited influence over consumer prices, which are primarily determined by private businesses. Effective economic strategies should focus on wage growth outpacing inflation rather than attempting to directly reduce prices.
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Notable Quotes:
- “Prices are set by private businesses. That's the way our economy works.”
— Victoria Guida [05:15] - “The economy is definitely a lot better than it was. Unemployment is low. Inflation is a lot lower than it was. But there's a lot of reasons why people still might not feel great.”
— Victoria Guida [07:23]
- “Prices are set by private businesses. That's the way our economy works.”
2. Political Ramifications and Trump's Economic Policies
Interest Rates and Economic Strategy
The discussion shifts to President Trump’s suggestion to slash interest rates, a move that could exacerbate inflation if implemented prematurely.
- Quote: “If they were to cut rates, it could cause more of a problem for inflation if it allows prices to start creeping.”
— Victoria Guida [06:00]
Economic Resilience and Future Challenges
Despite predictions of a recession due to Federal Reserve policies, the economy has shown resilience, largely supported by a strong labor force. However, policy uncertainties, such as tariffs and immigration restrictions, pose potential risks.
- Quote: “We were supposed to have a recession. That's a weird thing to say, but the Fed was raising rates to fight inflation. And often when the Fed raises rates to fight inflation, they cause a recession. And that didn't happen.”
— Victoria Guida [09:30]
3. International Relations: Trump’s Engagement with Putin and Ukraine
Trump’s Call with Putin
In a significant development, President Trump announced a productive phone call with Russian President Vladimir Putin aimed at ending the war in Ukraine.
- Quote: “We will begin negotiating how to resolve the conflict immediately.”
— Jane Coaston summarizing Trump’s statement [13:11]
Response from Ukrainian Leadership and NATO
Despite Trump's efforts, Ukraine is unlikely to gain NATO membership as part of any negotiated settlement, aligning with the U.S. stance that NATO accession for Ukraine is unrealistic.
- Quote: “The United States does not believe that NATO membership for Ukraine is a realistic outcome of a negotiated settlement.”
— Victoria Guida [14:26]
Upcoming Meetings and Diplomatic Moves
Trump plans to meet Putin in Saudi Arabia, with Putin reciprocating an invitation to Moscow, indicating ongoing diplomatic maneuvering.
4. Cabinet Nominations and Senate Confirmations
Tulsi Gabbard’s Confirmation
Tulsi Gabbard was confirmed as the Director of National Intelligence amid partisan tensions. Her nomination faced opposition, notably from Senator Mitch McConnell, who criticized her judgment and preparedness for the role.
- Quote: “This is not a time for political theater and partisan attacks.”
— Victoria Guida [16:25]
Other Nominations in the Senate
The Senate also advanced Robert F. Kennedy Jr.’s nomination for Secretary of Health and Human Services, and scheduled a confirmation hearing for Linda McMahon as Education Secretary.
5. Environmental Policies and the EPA Under Trump
Erosion of Environmental Protections
President Trump has initiated policies to weaken the Environmental Protection Agency (EPA), including relaxing efficiency standards for household items and rolling back regulations on harmful chemicals.
- Quote: “By eroding the EPA and the Environmental Justice office specifically, we are risking dirtier air, dirtier water, and that's going to harm black, brown, indigenous and low-income communities the most.”
— Anya Zolajowski, Climate Correspondent [22:05]
Impact on Environmental Justice
Anya Zolajowski discusses the critical role of the EPA’s Environmental Justice office in safeguarding vulnerable communities. The Trump administration’s actions have not only jeopardized ongoing environmental projects but also threatened the livelihoods and future of dedicated EPA staffers.
- Quote: “Everyone who's been speaking with folks on the inside has said that one, they're super nervous about their livelihoods. But also what's come up a lot is that these are really mission-driven folks and they're feeling really isolated from their ability to protect the communities that they have devoted their lives to protect.”
— Anya Zolajowski [22:39]
Grassroots and Local Resistance
The episode highlights the necessity of grassroots efforts to combat federal environmental rollbacks, emphasizing the power of local elections, legal battles, and community activism in effecting change.
- Quote: “These things can feel finalized, they can feel one and done, and they are not. And so that's another thing that people need to understand is that you still have power, the American people still have the power to turn around a lot of these things.”
— Anya Zolajowski [23:52]
6. Additional Political Developments
House Subcommittee on Government Efficiency
Representative Marjorie Taylor Greene leads the House Subcommittee on Delivering on Government Efficiency (DOGE), targeting federal waste and improper payments. The subcommittee’s inaugural meeting featured heated exchanges with Democrats challenging the committee's motives and affiliations.
- Quote: “The American people want to know what you're up to.”
— Green's call for Elon Musk’s testimony [15:53]
Trump’s Ambitious Territorial Plans
Rep. Buddy Carter introduced a bill proposing the acquisition and renaming of Greenland, reflecting Trump’s unconventional foreign policy ambitions. This move has been met with both ridicule and strong opposition from Denmark and Greenland officials.
Conclusion
In this episode of "What A Day," Jane Coaston provides a comprehensive analysis of the intertwining economic indicators, political strategies, and environmental policies under the Trump administration. Through insightful conversations with experts like Victoria Guida and Anya Zolajowski, listeners gain a nuanced understanding of the challenges and implications facing the American economy, governance, and environmental stewardship. The episode underscores the complexity of managing inflation, the limitations of presidential influence on the economy, and the critical need for sustained environmental protections amidst political upheaval.
For those who missed the episode, this summary encapsulates the essential dialogues and perspectives shared, providing a clear and informative overview of the current state of affairs as discussed on "What A Day."