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Welcome to The Hill’s Business & Economy newsletter

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Business & Economy

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The Big Story

High costs after tariffs pose threat to Trump and GOP

The cost of living in America is projected to rise because of President Trump’s latest round of tariffs, and that’s a political problem for the president and Republican lawmakers.

Trump campaigned in 2024 on bringing down the cost of groceries and other staples, a message that resonated strongly with voters.

More than six months into Trump’s second term, however, the costs of groceries, and other essential goods, such as cars, have continued to rise, corresponding with a drop in Trump’s job approval rating and a souring public view of Trump’s handling of the economy.

The cost of even “cheap” eats has become fodder for debate on social media, as people grumble about everything from the price of McDonald’s hash browns to Coca-Cola.

The price of eggs has come down in recent months, but a dozen are still, on average, 64 cents more expensive than a year ago, while the price of chicken, ground beef and orange juice were more expensive last month compared to a year ago.

While inflation as measured by the Consumer Price Index has stabilized at 2.7 percent, policymakers fear the prices of goods and services could spike up again, which is a big reason the Federal Reserve is hesitant to cut interest rates, a major point of tension between Fed Chair Jerome Powell and Trump.

The Hill’s Alex Bolton has more here.

Welcome to The Hill’s Business & Economy newsletter, I’m Sylvan Lane — covering the intersection of Wall Street and Pennsylvania Avenue.

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Essential Reads

Key business and economic news with implications this week and beyond:

Trump taps conservative economist EJ Antoni to serve as next labor statistics chief

President Trump on Monday announced he would nominate E.J. Antoni, a top economist at the conservative Heritage Foundation, to serve as the next commissioner of the Bureau of Labor Statistics after he pushed out the previous leader.

Full Story

Trump meets with Intel CEO after calling for his resignation

President Trump met Monday with Lip-Bu Tan, the CEO of Intel, who Trump just days earlier had called on to resign over claims he was “conflicted.”

Full Story

Stocks slump as Wall Street braces for inflation spike

Stocks closed with losses Monday as Wall Street braces for the first federal inflation report released after President Trump ousted the head of the agency responsible for producing it.

Full Story

Bill Ackman calls for Fannie-Freddie merger as Trump teases IPO

Activist investor Bill Ackman expressed support for a merger between Fannie Mae and Freddie Mac as President Trump mulls making both of the mortgage securitizing firms public companies.