FOX NEWS HOST SLAMS TRUMP’S TARIFFS
THE DETAILS …
The African American financial analyst, Charles Payne, who hosts a barely watched show on Fox Business, and who has a checkered past, including cheating on his wife with white woman who served as a guest on his program, has issued a stark warning about the U.S. economy, contradicting optimistic claims about the benefits of President Trump's tariffs.
Payne highlighted what he considers alarming declines in consumer spending and confidence, per recent data. The Commerce Department reported that consumer spending dropped by 0.2 percent in January, the largest decline since February 2021, despite rising incomes, possibly exacerbated by harsh winter weather. Additionally, consumer confidence saw a significant plunge in February, dropping seven points to 98.3 from January's 105.3, marking the steepest monthly decline in over four years, according to The Conference Board.
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According to Payne, economic uncertainty is being fueled by Trump's proposed 25 percent tariffs on imports from Canada and Mexico, alongside a 10 percent tariff on Canadian oil, raising concerns about potential inflationary pressures. The Federal Reserve’s Boston branch estimated that these tariffs, combined with initial taxes on Chinese imports, could increase core inflation by up to 0.8 percentage points. Inflation data for January showed a slight decline to 2.5 percent year-over-year, down from 2.6 percent in December, with core prices dropping to 2.6 percent, the lowest since June. However, Payne, and other so-called experts, warn that the progress in cooling inflation could be jeopardized by the proposed tariffs, adding to consumer unease and economic instability.
The Conference Board's consumer confidence index, a key measure of Americans' economic outlook, reflects growing pessimism, with short-term expectations for income, business, and the job market falling 9.3 points to 72.9 in February. This index, which accounts for about two-thirds of U.S. economic activity, is closely monitored for insights into consumer sentiment. A reading below 80 is considered a warning sign of a potential recession, and experts attribute the recent drop in confidence to the new administration’s economic policies, including government job cuts and tariff threats. The Conference Board noted that survey responses were dominated by concerns over these policies, with fears of a global trade war and persistent inflation further eroding consumer optimism.
MY OPINION
I think Payne is useless, and I can only guess why he kept his job amid his infidelity scandal with a Fox News guest — something a white male host would lose his job over. More importantly, Payne references consumer date from January and February, which is long before the tariffs went into place. Second, those reports are leftovers from Biden’s inflation.
I wrote an entire OpEd on the DML Report newsletter explaining why the tariffs will be great for you long term. Be sure to sign up for the newsletter when you visit. HERE IS THE LINK