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Economy May 24, 2026

UK Food Price Caps Expose Deep Faultlines in Global Food System

The UK Treasury’s request for supermarkets to cap essential food price rises has triggered fierce i…
The Treasury’s push for UK supermarkets to cap price rises on essential foods has been met with predictable horror‑squeals, yet the debate distracts from two stark realities: a steep surge in food prices and a food system increasingly vulnerable to global shocks.UK Treasury's Food Price Cap Sparks OutcrySupermarkets were described as “furious” while former Institute for Fiscal Studies heads and ex‑M&S chairs warned against price controls. The criticism, however, overlooks the fact that food prices have risen near‑40% since 2020, driven by the Iran‑Ukraine war and a forecast record‑breaking El Niño that threatens global production.Rising Global Food Costs: Near‑40% Surge Since 2020Food prices in the UK have climbed ≈40% from 2020 levels.One‑third of global fertiliser trade passes through the Strait of Hormuz.About 50% of the world’s food supply depends on artificial fertiliser.These chokepoints mean that disruptions—whether from geopolitical tensions or climate events—translate quickly into higher consumer prices.Systemic Vulnerabilities: Chokepoints and Climate ShocksChatham House identified 14 critical junctures in the food trade, from Hormuz to the Panama Canal, which carries 16% of global grain. Simultaneous shocks, such as a strong El Niño, historically raise global food prices by around 9% and have pushed millions into food insecurity.Economic Fallout: Farming Crisis and Consumer PressureUK imports ≈60% of its fertiliser and 50% of its fossil gas.Last year’s harvest values fell >20% below long‑run averages, costing farmers £828 million.Decade‑long lost revenues now total £2.3 billion.86% of farmers report extreme rainfall; 78% cite drought in the past five years.These pressures risk a market‑led system breaking down, prompting price spikes, shortages, and potential profiteering by dominant supply‑chain players.Path Forward: Rethinking Food Security and Policy OptionsAddressing the crisis will require diversifying fertiliser sources, investing in resilient domestic agriculture, and considering targeted interventions beyond blunt price caps. Without structural reforms, the UK may face prolonged stagnation as rising food costs squeeze household spending and broader economic growth.
#UK Treasury #Supermarkets #El Niño
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Lifestyle May 23, 2026

The Decline of the Office Lunch: From Luxury to Burden

The office lunch has transformed from a midday luxury to an unnecessary burden in modern work cultu…
The Evolution of the Office LunchIt's 12.30pm as I write this. My mind is preoccupied with moving my fingers from key to key on my ageing laptop, a task I paused briefly to remove a hair from the screen. Then, I scratched my leg again, which kicked up another hair. I should get back to work, but I can't concentrate. Why? Because I'm incredibly hungry. It is, after all, lunchtime – the most worthless part of any work day.It is not that there's shame in lunch. It's just that we're not programmed to eat at a certain time. We're all different and the whole concept of the office lunch is obsolete nonsense in 2026. Let it go.The Industrial Roots of the Midday MealBig Lunch (or alternatively, the Lunch Industrial Complex) will tell you otherwise. Lunch is considered a fundamental element of the work day. It is legally mandated here in California, after all. But it is also something people who work in offices look forward to. It's a moment to step away from the invisible chains that attach us to our computers for an hour or so of normal human behavior. Back when I worked in an office, I would look at my phone and think, if I can just make it to noon, I'll be OK. Lunch was like a little treat to break up the monotony of corporate life. In some jobs, there was even a free lunch to make the whole thing even more appealing. You can't leave the office. You don't even have to leave the office!I wasn't around for most of the 20th century, but according to TV shows like Mad Men, the old days of lunch meant meandering to a classy steakhouse and getting drunk off martinis, then plopping on to a chaise longue until the buzz wore off. I would happily endorse that version of lunch, but that's not what we are being presented with today. The modern office lunch is about convenience and expediency. It's being hustled through a Sweetgreen to collect your biodegradable bucket of vegetables so you can get back to your desk before your next meeting.The Economic Impact of Changing Lunch HabitsThe work day lunch is merely a distraction from your unenviable reality, offering the illusion of choice while reinforcing the plain and simple fact of your need to earn a living performing a series of tasks you hate. Shall I have pizza or Mexican food? No, I mustn't. I shall have a salad, lest I become a walking man-beast made primarily of partially digested carbohydrates.Lunch, as a concept, evolved from light refreshments as a leisure activity to a meal equal to the other two, thanks to the rapid rise of industrialization in the 19th century. Lunch became a crucial break from mining coal or assembling car parts. I don't need nearly as much of a break from designing PowerPoint slides or responding to an email that's "just following up on my previous request". Patience, yes. But that's a different story.So, we have rendered this middle child of a meal (not as nourishing as breakfast and not as fun as dinner) a culinary pariah tied directly into emotional desire. Lunch is the vestigial tail of the Industrial Revolution. I no longer look forward to noon like an over-caffeinated child anticipating Christmas morning. Maybe I'll have a small snack – nuts, a protein bar, crudites. I might even read or go for a walk. I recognize my privilege here, that I'm not mandated to be anywhere or do anything I don't want to do. I can occupy myself with other pursuits that are more nourishing than a buffalo chicken wrap. But the fact remains that my job is still as active as any office worker's. As in, not at all. I prefer a big, nutritious breakfast or a nice, early dinner.The Changing Landscape of Office DiningIf I have to meet someone socially or professionally during the day, or if my stomach is screaming at me, I'll eat. (In my fantasies, my stomach sounds exactly like my mother, a topic to unpack another time.) But without the peer pressure of needing to make use of my hour of mandated leisure time by filling my mouth with overpriced junk (or gossiping with co-workers), I can truly be free. The office lunch is a scam perpetrated by venture capitalists with big dreams of franchising their various "elevated" takeout dining experiences. But automation, economic malaise and the collapse of the urban business district are going to make these places even more useless. Sweetgreen's business is cratering for these very reasons. As the economy suffers, fast food is growing in popularity again, but fast food is not the answer.Places like Sweetgreen, Pret a Manger or Cava sustain themselves on the concept of lunch being connected to leisure: with your hour of free time, you should have a meal, even if it's food you don't even particularly enjoy consuming. I'm not saying don't eat lunch; rather that the break you receive from the drudgery of employment should be spent on pleasurable activities. If that means eating, great. But don't do it just because you think you have to. I say we should normalize taking a nap in the afternoon. Not a Mad Men-style snooze caused by excessive alcohol consumption, but a rest from the all-consuming stimulus of modern life. Get rid of the cubicles and unused couches in the various open-plan tech spaces and put in beds. Give me a teddy bear and one of those caps cartoon characters wore at night.The Future of Workplace DiningAnd now … I'm done typing. I can go eat something. Why am I eating in the afternoon? Am I some kind of hypocrite?No.It's because I didn't eat breakfast.
#Office Culture #Work-Life Balance #Meal Habits
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Business May 23, 2026

Reeves's tax cut on children's meals a 'soundbite', say restaurateurs

Restaurateurs have questioned the impact of Chancellor Rachel Reeves's temporary reduction in VAT o…
The Chancellor's Tax Cut Rachel Reeves, the chancellor, announced a temporary reduction in VAT on the children’s menu in restaurants from 20% to 5% between June and September, in order to help families with the cost of living crisis and offer a boost to the hospitality sector. Restaurateurs' Skepticism Restaurateurs have questioned the impact of the tax cut, with Will Murray, the owner of London restaurant Fallow, saying it's a 'small soundbite that won't make any difference.' Murray noted that most kids' food is already discounted at the cost of the restaurant anyway, and the VAT cut wouldn’t even make up that shortfall. The Data Analysis The UK's VAT rate for restaurants is 20%, one of the highest in Europe, with the European average being around 12%. In Italy, for example, VAT on food sold in restaurants is set at 10%. Some restaurateurs, like Tim Martin, the founder and chair of the Wetherspoons pub chain, plan to cut the cost of kids' meals during the summer, while others see the measure as merely 'symbolic.' The Impact Analysis The hospitality sector has long called for VAT rates on food and drink to be cut in line with other European countries. UKHospitality, the lobbying group for the industry, said it was likely that restaurants would cut costs on the menu for children after direction from government but that it was 'up to individual operators.' The Prediction Kate Nicholls, the chair of UKHospitality, urged the government to be bold and cut VAT for the entire hospitality sector, stating that VAT is the single biggest lever it can pull to lower prices, tackle inflation, drive demand, boost spending, generate growth, and create new jobs.
#Rachel Reeves #UK restaurants #VAT cut
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Entertainment May 23, 2026

Emerald Fennell Regrets Cutting Margot Robbie’s Hairy Armpits from ‘Wuthering Heights’

Director Emerald Fennell lamented that a scene showing Margot Robbie's "extremely hairy armpits" wa…
The Director’s Missed Moment: Hairy Armpits Cut from the Final EditAt the Hay Festival in Wales, Emerald Fennell explained that a scene featuring Margot Robbie's character Cathy with "extremely hairy armpits" did not survive the final cut of her 2026 adaptation of Wuthering Heights. She called the loss "unfortunate" because period pieces often sanitize female bodies.Why the Scene Was Intended and What Was LostFennell described the unshaven underarms as "so important" to her vision of a realistic 19th‑century woman.The director questioned the historical plausibility of razor‑free armpits in other period adaptations, especially those of Jane Austen.She also referenced other unconventional set details, such as the "skin room" and a controversial "fish scene" involving a dead fish.Contextual Numbers: Release Timing and Audience ReachThe film premiered on Valentine’s Day 2026, positioning it as a romantic‑gothic offering.Starring Margot Robbie and Jacob Elordi, the movie attracted attention from both literary fans and mainstream audiences.Industry Impact: Shifting Standards for Body Authenticity in Period DramaFennell’s regret underscores a broader debate about how period films portray women’s bodies. Traditional productions often present hairless, polished figures, reinforcing a modern aesthetic rather than historical accuracy. By pushing for visible body hair, Fennell challenges the industry norm and invites future creators to reconsider the balance between visual appeal and authenticity.Looking Ahead: The Future of Unvarnished Period StorytellingIf directors continue to prioritize realism, we may see more productions that retain natural body features, prompting audiences to adjust expectations. Fennell’s upcoming, undisclosed project—described as "profoundly evil"—suggests she will keep testing the boundaries of comfort and authenticity, potentially influencing a new wave of bold, unfiltered period narratives.
#Emerald Fennell #Margot Robbie #Wuthering Heights
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Entertainment May 23, 2026

Game of Thrones' Hannah Murray on Being Sectioned: 'I Am Not Concerned'

Game of Thrones actress Hannah Murray shares her experience of being sectioned in a psychiatric hos…
The LeadGame of Thrones actress Hannah Murray shares her experience of being sectioned in a psychiatric hospital in her new memoir "The Make-Believe: A Memoir of Magic and Madness." The actress describes her mental health journey and the experience of being involuntarily admitted under the Mental Health Act.The Hospital ExperienceThe door to the room opens. A man enters the room. He is a Black man, bald and overweight. He is dressed in uniform. Blue uniform, a blue lanyard that reads "NHS". But I know Steve, the leader of the organisation that introduced me to magic, is a magician. I know he can appear in disguise.I approach the man and try to kiss him.He does not let me kiss him. Then no. It is not Steve.The man has brought me a plate of toast. He has brought me a cup of tea. I add sugar to the tea, which I would never have done in my former life, but a spoonful of sugar helps the medicine go down!I am a Ritual Master. And this, drinking my own urine, is a powerful ritual. This is all I need now to survive … I will never need to eat again. I survive on liquids and air and lightI do not eat the toast. I drink the tea. I am alone in the room again and I urinate into the cup and drink that too.I am a Ritual Master. And this, drinking my own urine, is a powerful ritual. This is all I need now to survive. It is the most potent of potions I can drink. I am a self-contained, utterly self-sufficient being. I will never need to eat again. I survive on liquids and air and light.I decide to explore outside the room. Outside my sanctuary. He has not come. So maybe I need to go searching for him …The Phone CallTime jumps. I am in a corridor lit by overhead strip lights. The electric light is pale yellow in tone. I am sat on one of three chairs in a row against the wall. The chairs are purple, curved plastic. I am still waiting for him to appear.There are two doors in front of me. One is the door to the blue room with the blue sofa and chair. Behind the other door is an office of some kind, and there is a woman in there, shuffling papers and talking on the phone.The woman comes out of the office. She is holding out my phone. My only possession now – the one artefact from my previous life. There is someone she wants me to speak to.Him.When I hold the phone to my ear, I hear a voice I recognise.But the voice belongs to my mother."Hannah?" she says. "Where are you? What's going on?"There is distress in her voice. Her voice is trembling with pain and anxiety.I do not want to hear it.This is a test. A horrible test, certainly, but one that I can pass. They are trying to tempt me back into the human. They are trying to lure me back into the past.I hang up the phone.But, after a moment, it starts to ring. The word Mum lights up the screen."Talk to her," says the woman.I answer the call.My mother sounds different now. Calmer. She asks again what's going on but gently, even cheerfully. I tell her everything's OK. That I'm fine. I tell her not to worry. I'm in a good place.This is the last time I will ever hear her voice, I think. This is the way I say goodbye.The DiagnosisThey tell me I am being sectioned.The words jar with my beliefs."Section 2 … the Mental Health Act … 28 days … right to appeal … "I cock my head.This does not fit at all. It does not fit in the world of Steve, of Ritual Master, of Shambhala and the invention of magic.I am not concerned. I am concerned only with the energy I can feel spiralling up through my body and the voices I can hear in my head.I pace the hospital corridors, delivering a tearful monologue, delivering the greatest performance of my life. A phrase comes to me. The Girl With All the Gifts. The title of a post-apocalyptic horror film released in 2016, starring Gemma Arterton.I am a magician. I am an actress. I am a writer. I have superhuman strength. I can fly. Anything that can be imagined, I can perform it. Every skill and every ability is mine.The film came out as a warning, and a prophecy.And because of me, the apocalypse has been averted.I am the saviour of the planet. I am the girl with all the gifts.The Journey to RecoveryIt was very hard, the journey to get here. It took 27 years. The path was twisting and full of setbacks, there were challenges and so much pain. There were times I wanted to give up. It was very hard. Everyone will have to make their own journey, and their journeys will be their own, unique as snowflakes or fingerprints. That is the beauty of it, the joy of it. Everyone has to figure it out for themselves.But I have laid the groundwork. I have walked the path. It starts with the energy healing, and it goes on and on through the seven dimensions, through increasingly magical planes. It goes on and on until you meet your soulmate, like I met mine.I was in a TV show called Game of Thrones, hidden in plain sight in the midst of a cultural phenomenon. I, the key to the world's salvation, wore the face of a character called Gilly, but really I played every role. Then I worked on a film called Detroit in Boston. David Benioff and Dan Weiss and Kathryn Bigelow were the four horsemen of the apocalypse. Numbers are irrelevant. Three counts as four. David and Dan and Kathryn cast me in the roles that brought about my destiny. The end and beginning of the world.I am the Ur-actress. I am every actress. Every performance ever given has been animated by my energy, my talent, by the gestures and facial expressions I am performing here and now.The Memoir and BeyondThis is an edited extract from The Make-Believe: A Memoir of Magic and Madness by Hannah Murray, published by Cornerstone (£18.99). To support the Guardian, order your copy at guardianbookshop.com. Delivery charges may apply.Hannah Murray will be in conversation with Jessie Cave at Kings Place in London on 5 June.
#Hannah Murray #Game of Thrones #Mental Health
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Sports May 23, 2026

Pep Guardiola: 'I like to think my vibe and energy will be there for ever'

Pep Guardiola has announced his departure from Manchester City after 10 transformative years, expre…
The Lead: Guardiola's Emotional Farewell After a Decade of Excellence Pep Guardiola has officially announced his departure from Manchester City after 10 transformative years at the helm of one of football's most dominant clubs. The Spanish manager, who has led City to unprecedented domestic success, delivered his final press conference with characteristic emotion and wit, reflecting on a journey that has changed both him and the club forever. The Event Details: A Press Conference Like No Other Guardiola's final press conference was anything but ordinary. Having conducted over 1,100 media sessions during his City tenure, this one required him to summarize a decade of achievement in just 30 minutes. The manager arrived in a black hoodie, cracking jokes about facing Aston Villa while clearly preparing for an emotional farewell. The morning had been a whirlwind of announcements: first confirming his exit at 11:12am, then learning that City's expanded North Stand would be named in his honor. Chair Khaldoon al-Mubarak delivered the news about the stand, while Guardiola only discovered his future statue when informed by a journalist - joking he fears being covered in bird poo. Guardiola's emotional farewell speech to the players earlier that day was, in his own words, "a disaster," highlighting the difficulty of finding appropriate words after such a long and successful tenure. He expressed relief similar to what John Stones felt upon hearing the news, acknowledging the emotional toll of his decision. The Data Analysis: A Legacy Measured in Trophies and Transformation Guardiola's decade at Manchester City has been one of the most successful managerial spells in English football history. Under his leadership, City has: Won 6 Premier League titles, including 4 consecutive championships Secured 2 FA Cups Lifted 6 League Cups Reached the UEFA Champions League final Transformed from a promising club to a global football powerhouse The Catalan manager's impact extends beyond trophies. He has revolutionized City's playing style, developed world-class talent, and transformed the club's global brand. His influence is so profound that many consider City "the club Guardiola built," with him stating, "I like to think my vibe and energy will be there for ever." The Impact Analysis: Changing Manchester and Football Forever The symbiotic relationship between Guardiola and Manchester has transformed both. The manager has embraced his role as an honorary Mancunian, referencing the city's culture and even the 2017 Manchester Arena attacks, when his family was at the venue. He famously used the words of Manchester poet Tony Walsh: "This is my place." Guardiola's influence extends beyond football. His presence has been credited with an increase in tapas restaurants and elevated the profile of local clubs like Stockport County, which he famously visited for a League One game. His connection with Noel Gallagher of Oasis and other cultural figures has bridged the gap between football and Manchester's broader identity. The manager's departure comes at a time when City faces significant challenges, including ongoing charges and the need to maintain dominance without their architect. His exit marks the end of an era that has defined English football for the past decade, setting a new standard for excellence and innovation. The Prediction: What Comes Next for Guardiola and Manchester City Guardiola has indicated he will take a well-deserved break, mentioning his desire to play more golf, drink wine, and spend time with his children. While he joked about waiting for the England manager's job to become available, many speculate he may take a sabbatical from management entirely. For Manchester City, the challenge will be finding a successor who can maintain the club's high standards while navigating ongoing legal and sporting challenges. The club has already been linked with Enzo Maresca, though Guardiola's press conference made clear no succession plans were discussed - this was his day. Whatever Guardiola chooses next, his legacy at City is secure. The naming of the North Stand in his honor and plans for a statue ensure his physical presence will remain at the Etihad. As he himself acknowledged, "Nothing is eternal," but his impact on Manchester City and English football will endure for generations to come.
#Pep Guardiola #Manchester City #Premier League
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Sports May 23, 2026

Guardiola: Beyond Football - A Manager's Advocacy for Global Causes

Legendary football manager Pep Guardiola is stepping away from Manchester City after a trophy-laden…
The Lead: Guardiola's Legacy Beyond FootballPep Guardiola is more than a football manager, using his high-profile platform to highlight causes close to his heart. As he prepares to step away from Manchester City after 10 years and 20 trophies, the 55-year-old Spaniard leaves behind a legacy of advocacy that extends far beyond the "beautiful game."The Event Details: A Manager's Platform for Social ChangeLegendary Liverpool manager Bill Shankly may have believed football was "much, much more important" than life or death, but for Guardiola, several things outside football matter almost as much. From Palestinian children to Catalan independence and homelessness in the United Kingdom, Guardiola has strayed outside the borders of his job to advocate for a diverse range of causes during his managerial career.Guardiola has made no bones about using his position as a podium to "speak up to be a better society." His most recent foray into sensitive political territory has been his passionate embrace of the predicament of Palestinian children in Gaza during the two-year war with Israel and their suffering in the aftermath.The Data Analysis: Impact and ControversyThe war in Gaza, which began after Hamas's October 2023 attack on Israel, has killed at least 72,568 people, including children from toddlers to late teens. Hundreds of thousands of displaced people still live in tents, with conditions remaining dire despite a ceasefire that came into effect in October.Guardiola's advocacy has not been without controversy. His remarks about Palestine prompted the Jewish Representative Council of Greater Manchester and Region to write a letter to Manchester City chairman Khaldoon Al Mubarak, warning his comments put the lives of Jews in Manchester "in danger." Similarly, he was fined £20,000 ($27,000) by the Football Association in 2018 for wearing a yellow ribbon to support imprisoned politicians in his native Catalonia.The Impact Analysis: Shaping Public DiscourseWhile Guardiola's advocacy has met with criticism from some quarters, it has also sparked important conversations about global issues. His willingness to speak out on sensitive topics has demonstrated how athletes and sports figures can use their platforms to draw attention to humanitarian crises and social justice issues.Guardiola's influence extends beyond his immediate audience. When he missed a pre-match news conference to attend a charity event for Palestinian children in Barcelona, his actions garnered international attention. Similarly, his support for the Salvation Army's Partnership Trophy, a five-a-side football tournament in Manchester that raises awareness of homelessness, has helped shine a light on this often-overlooked issue.The Prediction: The Future of Athlete AdvocacyAs Guardiola transitions from his managerial role, his legacy of advocacy may inspire other sports figures to follow suit. In an era where athletes are increasingly using their platforms for social and political causes, Guardiola's approach—unapologetic, consistent, and multifaceted—could become a model for how sports figures can leverage their influence for meaningful change.His willingness to address complex geopolitical issues, from the Middle East to Ukraine and Sudan, suggests that future athlete advocates may become more engaged with global affairs, recognizing their potential to shape public discourse and bring attention to underserved communities and causes.
#Pep Guardiola #Manchester City #Palestine
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Sports May 22, 2026

Mercedes Poised to Extend Dominance with Technical Upgrades at Canadian Grand Prix

Mercedes arrives at the Canadian Grand Prix with their first major upgrades of the season, looking …
The LeadFour races into the 2026 Formula One season, Mercedes arrives in Montreal with their first major technical upgrades, seeking to maintain their perfect record of four poles and four wins. As teams continue to adapt to the new regulations, the Canadian Grand Prix presents a unique challenge with its sprint format and distinctive circuit characteristics.Mercedes' Technical AdvantageMercedes has opened the season with a dominant car that has claimed all four poles and all four wins. With the new regulations offering enormous scope for improvement, the team brings their opening salvo of major parts to Quebec. While rivals like McLaren, Red Bull, and Ferrari have already implemented their first major upgrades in Miami, Mercedes' technical package could further solidify their position at the top of the grid.The Development RaceThe 2026 season is shaping up to be a fierce development fight as teams optimize their cars under the new regulations. In Miami, Red Bull and particularly McLaren made significant strides forward, with McLaren introducing a new front wing – a critical component in the aerodynamic battle. Team principal Andrea Stella estimated Mercedes still held about a tenth of a second advantage over McLaren in Miami, but with all teams continuously improving, the pecking order remains fluid.Driver DynamicsThe internal championship battle at Mercedes intensifies as 19-year-old Kimi Antonelli continues his impressive form, winning the last three races in a row to lead the world championship by 20 points over his more experienced teammate George Russell. Russell, the pre-season favorite, has faced questions about mounting pressure after managing only fourth place in Miami. The Canadian Grand Prix, a circuit where Russell has taken pole in the last two meetings and won last year, presents an opportunity for him to reassert himself in the title race.Circuit ChallengesThe Circuit Gilles Villeneuve presents a unique technical challenge with its long straights interrupted by short, stop-start chicanes and two hairpins at each end. Unlike high-speed circuits where aerodynamic developments are maximized, the Canadian track favors drivers who excel in technical precision rather than outright speed. The sprint weekend format adds another layer of complexity, with teams having only one practice session to assess and adjust around their new parts.Weather and Regulation FactorsTeams face additional challenges in Montreal, with temperatures potentially dropping to 11°C on Sunday and rain forecast – which would be the first competitive session these new cars have run in the wet. The lower temperatures and possible wet conditions could significantly impact tire performance and car handling. Meanwhile, off-track discussions continue about changing engine regulations, with manufacturers split between implementing changes for 2027 or 2028 to address driver dissatisfaction with the current power balance between combustion and electric components.
#Mercedes #Formula One #Canadian Grand Prix
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Business May 22, 2026

Kevin Warsh Sworn in as Fed Chair as Trump Faces Economic Backlash

Kevin Warsh has been sworn in as chair of the US Federal Reserve, tasked with steering the economy …
The Leadership Shift at the Federal Reserve Kevin Warsh has been sworn in as chair of the US Federal Reserve, tasked with steering the world’s largest economy as the Trump administration faces mounting pressure over Americans’ financial wellbeing. Warsh's Mandate Warsh, handpicked by Donald Trump, takes charge of the powerful central bank as it comes under extraordinary pressure from the US president to cut interest rates, even as prices climb. Economic Data Analysis The nationwide average US fuel price stood at $4.55 a gallon on Friday, according to AAA, up $1.35 a gallon from where they stood a year ago. Inflation hit a three-year high of 3.8% in April. The Impact on Trump's Approval Ratings With millions of Americans set to hit the road over Memorial Day weekend, and US fuel prices at their highest levels in years, 68% of Americans believe Trump is prioritizing his controversial immigration crackdown at the expense of their economic wellbeing, according to a new poll. The Future Outlook Warsh pledged to lead a “reform-oriented Federal Reserve”, adding: “Inflation can be lower, growth stronger, real take-home pay higher, and America can be more prosperous, and no less important.” However, criticism from Democrats and some economists suggests that Warsh's credibility is in question.
#Kevin Warsh #Federal Reserve #Donald Trump
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