Morning Wire Inflation Remains Elevated & Illegal Immigrant Releases | 6.13.24
Jun 13, 2024
Inflation continues to strain Americans, with new data reflecting an unsettling economic reality. Housing costs are surging, making homeownership tougher than ever for many. The conversation covers questionable immigration policies, revealing that most illegal crossers are still being released. Tensions rise as a political maneuver targets the Attorney General over controversial documents. Amid mixed signals, the Federal Reserve's decisions could impact the economy leading up to the election.
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Inflation and Public Sentiment
- Americans are feeling the impact of inflation, but there are signs of cooling.
- Despite some positive economic news, public sentiment remains negative.
Slowest Inflation Rate Since 2021
- Inflation rose at its slowest pace in years, increasing by 3.3% compared to May of last year.
- Despite the slowdown, overall inflation is up over 20% since 2021, exceeding real wage growth.
The Economy and Public Sentiment
- Economist EJ Antoni suggests the official economic numbers may be skewed.
- He believes public sentiment is the best gauge of the economy's current state.