"Catch up quick: Voters delivered resounding defeats to GOP candidates for governor in New Jersey and Virginia this week, with exit polls showing voters focused on the economy preferred Democrats. That's not how it usually works; voters typically trust Republicans over Democrats on economic issues. "I don't want to hear about the affordability," President Trump said Thursday at the White House, when asked about the elections and consumers' concerns about paying for groceries."
"What they're saying: "We had to stop the increase first, now we are starting to see prices level off, come down," Treasury Secretary Scott Bessent said on ABC's "This Week." "I think we are making substantial progress on that, and I think over the coming months and the next year, prices are going to come down." Yes, but: The government's own data shows consumer prices rising, not falling. Prices for some key foodstuffs, like beef and coffee, are up double digits year over year."
Voters delivered resounding defeats to GOP gubernatorial candidates in New Jersey and Virginia, with exit polls showing voters focused on the economy preferred Democrats. Voters typically trust Republicans on economic issues, but this pattern did not hold. President Trump dismissed affordability concerns. Treasury Secretary Scott Bessent said prices have begun to level off and will come down over months. National Economic Council director Kevin Hassett claimed grocery prices are down significantly and real spending power has risen. Government data, however, shows consumer prices rising, with key foodstuffs up double digits and about 70% of Americans spending more on groceries. A government shutdown has halted official updates on prices.
Read at Axios
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