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OAN Staff Alicia Summers
10:10 AM – Wednesday, April 2, 2025
The latest PCE report, the Federal Reserve’s key inflation gauge, came in hotter than expected, dashing hopes for easing price pressures. At the same time, consumer confidence took a dive, with the Michigan Consumer Sentiment Index dropping to its lowest point in years. Critics are seizing on these economic struggles to bash President Biden, particularly over rising egg prices, which spiked under his administration after millions of chickens were killed. Meanwhile, Trump’s upcoming 25% tariff on foreign-made cars is causing backlash, especially from Canada and conservative leaders. Despite this, the United Auto Workers union supports the tariff as a way to revive American manufacturing. Could this be setting the stage for stagflation? David Stryzewski, CEO of Sound Planning Group, joins Alicia Summers to break it down.
