Ground beef is officially a luxury item in America.
Susan Kokinda breaks down Trump's antitrust war on the 4 meatpacking cartels running 86% of the industry — and why ground beef, gas prices, and SNAP are the real midterm issue, not culture war.
Our note: As for other high prices, blame the Federal Reserve Chairman of the last 8 years Jerome Powell…
Powell failed to deliver on stable prices, with grocery prices soaring and the dollar stretching thinner under his watch, leading to home ownership becoming out of reach for millions.
He was criticized for keeping interest rates too low for too long after the COVID-19 pandemic, contributing to high U.S. inflation.
President Trump criticized Powell for being “too late” in cutting interest rates, suggesting he tried to help Democrats and hurt people wanting mortgages.
Powell’s leadership saw the Fed’s balance sheet balloon to $9 trillion and trillions of taxpayer dollars lost due to perceived mismanagement of monetary policy.
