NerdWallet's Smart Money Podcast

Here’s What Tariffs Could Cost You (Plus: Downgrade or Ditch Your Premium Card?)

10 snips
Aug 7, 2025
In this engaging discussion, Anna Helhoski, a NerdWallet news writer, and credit card expert Melissa Lambarena provide keen insights into the current economic landscape. They analyze how new U.S. tariffs might inflate everyday goods and car prices. From the latest job reports to inflation trends, they illuminate the broader economic implications. Melissa also explores whether high-fee premium credit cards are worthwhile, offering strategies on downgrading or keeping them, as well as understanding the impact on credit scores.
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INSIGHT

Tariffs Impact Consumer Prices

  • Tariffs on imports lead to higher prices, mostly impacting low-income households.
  • Some industries, like autos, are absorbing costs now but might pass them on later.
INSIGHT

Jobs Data Controversy Unfolds

  • Revised job growth reports showed fewer jobs than initially reported, causing economic concerns.
  • Trump blamed job data manipulation, risking public trust in government economic stats.
INSIGHT

Inflation Edges Above Fed Target

  • Inflation measured by core PCE is rising again above the Fed's 2% target.
  • The Fed faces pressure to cut rates but sees inflation readings that justify holding steady.
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