The Playbook Podcast February 12, 2025: Dueling budgets and DOGE fights
Feb 12, 2025
Tensions rise in Washington as dueling Republican budgets clash in Capitol Hill. New inflation numbers could shift the political landscape, affecting relations between the White House and the Federal Reserve. Meanwhile, Elon Musk's DOGE project prompts scrutiny of economic data integrity, raising concerns about influence on critical statistics. Proposed tariffs from Trump could reshape consumer prices and production costs, making this budget debate even more pivotal for the economy.
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Dueling Budgets
- Dueling Republican budgets are the main topic in Washington, with Senate and House Republicans pursuing different strategies.
- President Trump's agenda hangs in the balance as Republicans debate the best approach.
Inflation Numbers and Trump-Powell Dynamic
- New inflation numbers are expected, the first of the Trump era.
- There's speculation on how these numbers might influence the dynamic between the White House and Jerome Powell.
Inflation and the Fed
- Inflation is lower than in 2022 but still hasn't reached the Federal Reserve's 2% target.
- A detente exists between Trump and Powell, with Trump recently approving of the Fed's decision to hold rates steady.