Erin Delmore

There are a lot of folks in a lot of circles who are concretely worried about the price of goods rising in the United States on the heels of inflation that has really been an issue for households trying to balance their budgets since the COVID pandemic. And hidden today in the economic news was CPI data that came out at 8.30 Eastern this morning.

There are a lot of folks in a lot of circles who are concretely worried about the price of goods rising in the United States on the heels of inflation that has really been an issue for households trying to balance their budgets since the COVID pandemic. And hidden today in the economic news was CPI data that came out at 8.30 Eastern this morning.

showing some pretty encouraging data points both the core inflation number which strips out volatile food and energy prices and the headline inflation number which takes everything for the consumer price index actually came in better than expected showing a trajectory on inflation that fed officials would cheer the question is what happens next because immediately that data is backwards looking and it's not a really a trend line that we can account for if we suspect that these tariffs will stay in place and raise goods for average consumers

showing some pretty encouraging data points both the core inflation number which strips out volatile food and energy prices and the headline inflation number which takes everything for the consumer price index actually came in better than expected showing a trajectory on inflation that fed officials would cheer the question is what happens next because immediately that data is backwards looking and it's not a really a trend line that we can account for if we suspect that these tariffs will stay in place and raise goods for average consumers

It seems from the bilat that he just held with Prime Minister Benjamin Netanyahu of Israel that he's occupying both lanes at the same time, that he is open to negotiations, but that he also intends on holding firm and that this is not about negotiating. And so for me, as a journalist now, I look to see what the president does beyond what he says. And

It seems from the bilat that he just held with Prime Minister Benjamin Netanyahu of Israel that he's occupying both lanes at the same time, that he is open to negotiations, but that he also intends on holding firm and that this is not about negotiating. And so for me, as a journalist now, I look to see what the president does beyond what he says. And

And what he has done in his meeting with Benjamin Netanyahu is apparently come to a deal. Netanyahu said that Israel will be eliminating the trade deficit with the United States. And he vowed to remove all trade barriers. So now we are looking to see how that holds up once that's been fully negotiated.

And what he has done in his meeting with Benjamin Netanyahu is apparently come to a deal. Netanyahu said that Israel will be eliminating the trade deficit with the United States. And he vowed to remove all trade barriers. So now we are looking to see how that holds up once that's been fully negotiated.

And if we begin to see other agreements come forward or if the president and his advisors say that they are standing firm.

And if we begin to see other agreements come forward or if the president and his advisors say that they are standing firm.

It depends on how it moves forward. So certainly, and I'll run you through the back and forth that we've seen. You know, earlier this year, President Trump implemented 20 percent across the board tariffs on all Chinese goods coming into the United States. And again, we say as shorthand tariffs on China.

It depends on how it moves forward. So certainly, and I'll run you through the back and forth that we've seen. You know, earlier this year, President Trump implemented 20 percent across the board tariffs on all Chinese goods coming into the United States. And again, we say as shorthand tariffs on China.

But what we mean is that it is an import tax on goods that come into the United States from China that's paid by the American importers. And extremely likely, in fact, economists say there's virtually no way around it. to be paid by U.S. consumers. And so we saw that number at 20 percent. Then last week on, quote unquote, Liberation Day, went up by 34 percent and they stack. So that's 54 percent.

But what we mean is that it is an import tax on goods that come into the United States from China that's paid by the American importers. And extremely likely, in fact, economists say there's virtually no way around it. to be paid by U.S. consumers. And so we saw that number at 20 percent. Then last week on, quote unquote, Liberation Day, went up by 34 percent and they stack. So that's 54 percent.

And then President Trump today threatens an additional 50 percent, bringing what would be the total number on China to 104 percent. Obviously, that is a huge number. And that makes a lot of goods that Americans are accustomed to getting very cheaply more expensive.

And then President Trump today threatens an additional 50 percent, bringing what would be the total number on China to 104 percent. Obviously, that is a huge number. And that makes a lot of goods that Americans are accustomed to getting very cheaply more expensive.

Anxious and eager is how I would probably characterize that. Obviously, we're hearing some extremely deep concern here on the consumer level. We're seeing that also reverberating at the investor level. But investors look to be a bit stuck, looking to follow the lead of whatever tiny bits of information managed to drip their way out of the White House or out of the Trump administration.

Anxious and eager is how I would probably characterize that. Obviously, we're hearing some extremely deep concern here on the consumer level. We're seeing that also reverberating at the investor level. But investors look to be a bit stuck, looking to follow the lead of whatever tiny bits of information managed to drip their way out of the White House or out of the Trump administration.

And what that leads to is an incredibly volatile day. We saw wild swings on Wall Street and trading closes at 4 o'clock p.m. Eastern time. But really throughout the day from the opening bell at 9.30 a.m. Eastern until 4.30, we saw the Dow swing more than 2,500 points. We saw the Nasdaq trading in a range that looked to be about 10%.

And what that leads to is an incredibly volatile day. We saw wild swings on Wall Street and trading closes at 4 o'clock p.m. Eastern time. But really throughout the day from the opening bell at 9.30 a.m. Eastern until 4.30, we saw the Dow swing more than 2,500 points. We saw the Nasdaq trading in a range that looked to be about 10%.