"By launching a legal assault on the Fed, Mr Trump is trying to shift blame for borrowing costs. Yet despite controlling the presidency, Senate and the House, Republicans have passed little beyond a large tax-cutting bill that benefits the rich. They have not legislated on housing supply, childcare, healthcare costs or wages. Indeed most of their actions are worsening affordability, notably deferring action even though millions face a sharp rise in their health insurance bills."
"Mr Trump's sudden enthusiasm for credit card caps and housing interventions is pure opportunism. Affordability is not an abstract talking point; it is increasingly driving US politics. The rise of New York's Zohran Mamdani whose victory was built by zeroing in on the cost of living crystallised a broader shift: voters respond to real help, not rhetorical blame. Clearly, Mr Mamdani offered concrete policies and institutional reform. Democratic leaders are listening."
"Until recently President Trump described the affordability crisis is a hoax invented by Democrats. For ordinary Americans, however, it is a rising grocery bill eating into already fragile household finances. Then at the end of November Mr Trump declared he was the AFFORDABILITY PRESIDENT and he would deliver Republican midterm victories. If this prediction were realised it would be a triumph of spin over substance."
Legal attacks on the Federal Reserve are an attempt to shift blame for rising borrowing costs as the cost-of-living crisis erodes political support. Republican control of the presidency, Senate and House produced mainly large tax cuts favoring the wealthy while failing to legislate on housing supply, childcare, healthcare costs or wages. Many Republican actions have worsened affordability, including deferring relief as millions face higher health-insurance bills. Sudden Republican proposals on credit-card caps and housing are opportunistic. Voter wins grounded in cost-of-living solutions, such as Zohran Mamdani’s campaign, show that concrete policies and institutional reform resonate. Senator Elizabeth Warren is prepared to challenge vested interests.
Read at www.theguardian.com
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