Courts Keep Rejecting Trump’s Tariffs

In this episode of The Bulwark, hosts JVL and Catherine Rampell dissect the latest economic data, focusing on a surprisingly strong jobs report showing 115,000 new jobs—above expectations but down from previous months. Despite ongoing policy-driven economic pressures from Donald Trump’s tariffs, war-related inflation, and attempts to politicize the Federal Reserve, the economy continues to 'muddle through.' The discussion highlights the growing disconnect between hard data and consumer sentiment, with lower-income Americans increasingly frustrated by rising prices, especially energy and goods costs, while wealthier individuals with stock holdings remain relatively insulated. Key concerns include stagnant wage growth, rising commodity prices (notably aluminum), and the risk of inflation expectations becoming self-fulfilling. The episode also explores the political dangers of Trump’s ongoing efforts to undermine Fed independence, including threats to indict Fed members like Lisa Cook and potential retaliation against Fed Chair Kevin Warsh if interest rates don’t fall as demanded. The hosts express deep concern that Trump’s actions may be exacerbating long-term economic instability, even as the economy avoids immediate collapse.