Since May, Republican inflation expectations have climbed while Democrats' have dropped.

Consumer sentiment dropped for the fourth month in a row in November.

Announced job cuts rose to 153,074 in October, the highest level for the month in 22 years.

The long-term unemployment rate is at its highest level since 2016 — a sign of labor market weakness. My @morningjoe-msnbc.bsky.social Chart

The unemployment rate for 20- to 24-year-olds is 9.2%, its highest level since 2016. My @morningjoe-msnbc.bsky.social Chart

The average first-time homebuyer age in 2025 was 40 years old. That must have a huge negative impact on young Americans’ view of the economy. My @morningjoe-msnbc.bsky.social Chart

Americans are still experiencing sticker-shock when it comes to housing, with mortgage payments about double pre-covid levels. My @morningjoe-msnbc.bsky.social Chart

Since 2019, real personal spending has only increased for the top fifth of earners — that’s one reason why Americans don’t think their finances are improving. My @morningjoe-msnbc.bsky.social Chart

Trump’s economic approval rating is even worse than his overall approval rating. That’s a reversal from his first term, when the economy was his relative strength. My @morningjoe-msnbc.bsky.social Chart

New Jersey Governor-elect Mikie Sherrill campaigned on a promise to use a state of emergency to freeze electricity costs for a year, as NJ residential electricity price inflation hit 25% in June.

According to ADP, the US added 42K private payrolls in October, slightly higher than expected.

Five times as many New Yorkers voted early in this mayoral election compared to the previous one. cc: @gothamist.com

Nearly a fifth of American households with children rely on SNAP to buy groceries. cc: @washingtonpost.com

This weekend, 12% of Americans are set to lose crucial food assistance due to the govt shutdown — the majority of them are children or elderly. Cc: @washingtonpost.com

Here’s a scary picture for this Halloween

In my latest for @nytopinion.nytimes.com , I explain the reasoning behind the Fed’s recent rate cut. www.nytimes.com/2025/10/29/o...

If it seems like your Halloween candy is a lot more expensive this year, it’s not just you — candy inflation is at 9.8%, with prices 44% above 2019 levels.

In my latest for @nytopinion.nytimes.com , I explain why Americans should be grateful that Trump doesn’t run the Fed. www.nytimes.com/2025/10/29/o...

In cutting rates by 25bps today, the Fed remains cautious and methodical — everything that Trump is not. More in my latest for @nytopinion.nytimes.com www.nytimes.com/2025/10/29/o...

The Fed cut rates by 25bps for the second month in a row, as expected.

Some optimism from Bill Gates’s latest note — between 2014-2024, innovation led to a 40% cut in projected emissions. Fingers crossed the Trump will not succeed in reversing this progress.

Consumer confidence dropped slightly in October, hitting its lowest level since April.

An important chart from @washingtonpost.com on energy costs – generation has become cheaper, but the cost of delivering energy to consumers across the grid has more than doubled.

CPI inflation rose to 3% in September, slightly undershooting expectations. Inflation has increased every month since April.

Gold price growth is correlated with uncertainty. That’s because it’s considered to be a safe and stable asset. My @morningjoe-msnbc.bsky.social Chart

One factor behind the recent gold rally is central banks stocking up on gold, first in response to the West freezing Russian assets in 2022, then in reaction to Trump’s economic chaos. My @morningjoe-msnbc.bsky.social Chart

Retail investors have been accounting for a growing share of trading. Options, which are particularly risky, recently had their biggest trading day in history. My @morningjoe-msnbc.bsky.social Chart

One factor buoying markets is retail investor activity — stocks popular with these individuals have outperformed the S&P this year. My @morningjoe-msnbc.bsky.social Chart

The S&P Shiller P/E ratio is at a historically high level, only surpassed by dot-com bubble levels. That doesn’t necessarily mean the market will roll over, though. My @morningjoe-msnbc.bsky.social Chart

The 6-months ending Oct 8th saw historically high S&P growth. My @morningjoe-msnbc.bsky.social Chart

Trump is completely unconcerned by the shutdown, and proceeding with his normal priorities: building a fancy ballroom in the White House. www.nytimes.com/2025/10/15/u...

While layoffs remain at normal levels, those without a job are facing a tougher economy. Over a quarter of unemployed Americans have been jobless for more than half a year. My @morningjoe-msnbc.bsky.social Chart

Payrolls growth is anemic. It’s also concentrated in big businesses, and the leisure & hospitality and health & education sectors. My @morningjoe-msnbc.bsky.social Chart

Despite weakness in the labor market, the stock market is still relatively strong — a factor which has buoyed upper class spending in recent years. My @morningjoe-msnbc.bsky.social Chart

The top 20% of earners have almost entirely accounted for real consumption growth since 2019. My @morningjoe-msnbc.bsky.social Chart

Since late 2024, wages at the bottom have been growing more slowly than those at the top. That’s a reversal of a nearly decades-long trend of higher growth at the bottom. My @morningjoe-msnbc.bsky.social Chart

In the first half of 2025, AI-related investment accounted for 31% of GDP growth. Growth excluding this investment was only 1.1%. My @morningjoe-msnbc.bsky.social Chart

The IEA is projecting a historically high annual oil glut in 2026, not a great incentive for boosting production.

If you’re wondering whether AI is in a bubble, 54% of investors in BofA’s latest survey say yes. www.bloomberg.com/news/article...

Wow — new AI-made articles online are already outnumbering human-generated content.

Republicans are far more likely to support sending troops to cities with Democratic mayors than censoring museum content. Which do you think is worse?

Consumer sentiment remained essentially unchanged in October, slightly decreasing among Democrats and rising among Republicans.

Moody’s chief economist estimates that 22 states are already in or at high risk of a recession, and only 16 are expanding. Notably, California and New York are “treading water”.

The GOP tax bill cut $137B in rural Medicaid funding, and then added in $50B in rural hospital funding to try to compensate. Rural hospitals have already been closing for years. My @morningjoe-msnbc.bsky.social Chart

Around 14 million Americans are set to lose their insurance over the next 10 years. And out of the 10 hardest-hit states, 7 voted for Trump. My @morningjoe-msnbc.bsky.social Chart

Ironically, red states are more dependent on the expiring healthcare tax credits that Democrats are fighting for. My @morningjoe-msnbc.bsky.social Chart

States like Texas, Florida, Georgia, South Carolina, and Mississippi will be particularly hard-hit by the enhanced premium tax credit expiration — they have high Obamacare enrollment and haven’t expanded Medicaid. My @morningjoe-msnbc.bsky.social Chart

Over the last 5 years, ACA marketplace insurance enrollment increased 157% in red states and 36% in blue states. It’s these Americans that are likely to lose their insurance if Republicans don’t do something about the expiring tax credits. My @morningjoe-msnbc.bsky.social Chart

As this shutdown drags on, pressure is mounting on Republicans to do something about impending health insurance premium hikes. I’ll be on @morningjoe-msnbc.bsky.social in a few to explain what’s at stake.

America’s world-class universities are one of our best exports – it’s a shame Trump is diminishing that advantage.