Peter St Onge Podcast Ep 131 Weekly Roundup: Inflation Finally Rises
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Jul 28, 2025 This week's roundup highlights a surprising surge in inflation, driven by rising energy and housing costs. Renters are facing unprecedented highs as the housing market tightens. The discussion also features Trump’s America First trade deals and their economic implications. Attention shifts to New York, where radical proposals from a mayoral candidate stir concern amidst party divisions. Lastly, the impact of AI on jobs is explored, with predictions of a temporary increase in unemployment as traditional roles evolve into more specialized positions.
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Tariff Inflation Smaller Than Feared
- Tariff-induced inflation has been much smaller than feared, around 0.7% annually.
- Energy production cuts and housing costs influenced inflation more than tariffs recently.
Housing Affordability Crisis for Youth
- America's renters hit a record 46 million due to unaffordable homes for young buyers.
- Housing costs doubled from price rises and mortgage rate jumps, pricing out many young families.
Trump's Trade Deals Leverage US Power
- Trump's trade deals impose high tariffs on imports to the US but remove tariffs on American exports.
- This leverages America's massive market power to pressure trade partners benefiting US exporters.