“This is the quickest increase [of gas prices] since Russia’s invasion of Ukraine,” @AlexSJacquez tells @FoxLA.
"We’ll all be paying higher prices for transportation, which will lead to higher prices on the shelves — higher prices for basically everything.”
“For now, Trump and his administration have shown no sign of changing course. @AlexSJacquez, of Groundwork Collaborative, said a painful, sustained increase in energy costs like that triggered by Russia’s full-scale invasion of Ukraine now appears increasingly likely.
“‘It feels
The longer the conflict with Iran lasts, the more working families will pay.
Oil prices are climbing, gas prices are rising, and the economic impact could reach $210 billion.
@AlexSJacquez told @Independent that markets may be overlooking the risk of a prolonged war — one that
Two polls. One story: families are going into debt just to get by.
Our polling with @BorrowerJustice shows Americans are increasingly relying on credit cards and Buy Now, Pay Later loans to cover essentials like groceries, rent, utilities, and medical care.
A sign that rising
The deterioration in the labor market is visible from space.
Jobs are down, gas prices are up, and America’s working class continues to pay the price.
Working families are resorting to scrapping metal and selling clothes to make ends meet.
The Federal Reserve’s report should serve as a major red flag for the White House that Trump’s economy is flailing.
If the conflict in Iran continues, nationwide gas prices could average between $3.50-$4.00, while CA drivers could see prices exceed $7 per gallon.
As our @AlexSJacquez tells @KPIXtv, “economically the damage is already done.”
Another important chart @millennial_debt and I feature in our new piece for @BorrowerJustice and @Groundwork.
Voters -- increasingly relying on debt to pay for essentials -- want a credit card interest rate cap. And the banks can't talk them out of it.
A record number of American workers are pulling money from their 401(k)s to cover financial emergencies. https://on.wsj.com/4aQTiXP
Everywhere you look across Donald Trump’s economy, debt is masking a fundamental weakness in families’ finances.
More from @millennial_debt / @borrowerjustice and @EmDiVito / @groundwork
Americans can't keep up with rising costs, going into debt to stay afloat.
A new @Groundwork @BorrowerJustice poll unpacks what it means at the kitchen table-- and the ballot box.
New from me & @EmDiVito today at IN DEBT, a @BorrowerJustice substack.
https://indebt.substack.com/p/the-mask-is-slipping-new-poll-shows
.@Newsweek with the scoop 👇
A 10% credit card interest rate cap is popular. But voters are skeptical it will actually happen.
“If a credit card cap were a priority for the Trump admin, it should have been signed into law months ago,” as @EmDiVito pointed out.
Gas prices jumped 11 cents overnight. Crude oil is nearing $85 a barrel.
As @AlexSJacquez told @nytimes: if this conflict drags on, consumers could face higher costs in “nearly every sector of the economy.”
This isn’t just about what you pay at the pump. It's groceries,
The gym is today’s economy in miniature, highlighting a widening divide between higher-income households & more price-sensitive consumers who are showing signs of financial strain.
In a K-shaped economy, corporations adapt to serve the wealthy — while working families are left
NEW POLL conducted by @dataprogress on behalf of us & @Groundwork finds strong, bipartisan support for efforts to cap credit card interest rates at 10%.
Even after hearing common bank lobby talking points nearly TWO-THIRDS of voters still favor a 10% cap.
