Hedgeye Podcasts Hedgeye NexGen | Episode 26 | Trumponomics & Recent Inflation
Nov 26, 2025
Join food analyst Ben as he dives into the realities of inflation in America. They dissect Trump's claims about food and energy prices while exploring the mixed signals in food inflation. The discussion highlights the declining happiness of young Americans due to housing unaffordability and stagnant wages, alongside trends in the restaurant sector. Tune in for insights on how past stimulus checks have impacted inflation, and the implications of potential tariff dividends on future economic stability.
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Headline Inflation Isn't Actually Low
- Headline CPI peaked in 2022 and is currently around 3% year‑over‑year. Ryan Ricci notes that being at 3% is not a low point relative to pre‑2020 norms.
M2 Shows Inflation Pressure Persisting
- M2 money supply better tracks real inflation than headline CPI according to the hosts. M2 has risen since 2019 and undermines claims that inflation is at a historical low.
Food Prices: Pockets Down, Overall Up
- Food components show mixed moves: some commodities and proteins cooled while food away from home stayed elevated. Ben and Ryan conclude overall food costs remain higher, so food is not broadly down.
