>> AFFORDABILITY IS FRONT AND CENTER IN WASHINGTON, D. C. RIGHT NOW, ESPECIALLY AFTER PRESIDENT TRUMP'S MEETING WITH NEW YORK CITY MAYOR ELECT ZORAN MAD MONEY LAST WEEK.BUT OUR NEXT GUEST SAYS THAT DESPITE THIS RENEWED FOCUS, AFFORDABILITY IS A PROBLEM THAT JUST CAN'T BE SOLVED. GREG IP IS THE WALL STREET JOURNAL'S DEPUTY ECONOMICS EDITOR AND CHIEF ECONOMICS COMMENTATOR. STEVE LIESMAN, BY THE WAY, IS BACK WITH US FOR THIS CONVERSATION AS WELL.BUT, GREG, WELCOME. IT'S IT'S GOOD TO SEE YOU THIS MORNING. YOUR ...

Core Insights - The concept of affordability is increasingly prominent in political discourse, particularly following recent discussions involving President Trump and New York City Mayor Elect Zoro Mami, yet it remains a complex issue that is difficult to quantify and address effectively [1][4][5] - Public sentiment regarding affordability does not necessarily align with economic data, as perceptions of affordability can persist even when objective measures do not indicate significant deterioration [1][2][3] - The affordability crisis is influenced by various factors, including healthcare costs, housing prices, and consumer sentiment, which complicates the ability of policymakers to address the issue effectively [6][21][26] Economic Conditions - Despite a decrease in inflation rates from 9% to 3%, public perception of affordability remains negative, indicating a disconnect between economic indicators and individual experiences [3][15] - Mortgage rates and construction costs are significant contributors to housing affordability challenges, with rising interest rates impacting potential homebuyers [2][17][20] - The affordability index, which considers income, mortgage rates, and home prices, shows that current affordability is worse than pre-pandemic levels but similar to conditions before the 2008 financial crisis [21][22] Political Dynamics - Polling indicates that affordability is a bipartisan concern, with a notable percentage of Republicans acknowledging rising prices as a significant issue [5][6] - The Biden administration's approach to addressing affordability has faced criticism, particularly regarding the perception of inflation and its impact on public sentiment [3][4] - Local and state governments have the potential to improve housing supply by reducing regulatory barriers, which could positively influence affordability in the medium term [26][27]

2026 Midterm Elections & Iowa Senate Race - Democratic State Senator Zack Walls is running for the open Senate seat in Iowa after incumbent Senator Joanie Ernst announced she will not seek re-election [1][2] - The race is heating up with five candidates jumping into the Democratic primary [1] - Zack Walls gained national attention in 2011 for his support of same-sex marriage [1] Campaign Focus & Key Issues - Walls' campaign is focused on the cost of living crisis and corruption in Washington DC, which he says are crushing working-class, middle-class families, and retirees [3][4] - He aims to take the government back from billionaires and big corporations to build an economy that works for everyone [4] - Walls emphasizes putting Iowans first and is open to working with anyone, including the President and Republicans, if their ideas benefit the state [7] Political Landscape & Strategy - Walls positions himself as different from Ashley Henson, criticizing her as a "rubber stamp" for the White House agenda [8] - He acknowledges President Trump's past success in Iowa but believes people are unhappy with the current situation due to tariffs and budget cuts [10][12][13] - Walls aims to appeal to Democrats, independents, and even some Republicans by focusing on affordability and tackling political corruption [14][23] - He supports overturning Citizens United, strong term limits, and banning congressional stock trading [22][23]

As the White House welcomes turkeys to the nation's capital and tries to avoid becoming a lame duck presidency after a series of setbacks that have raised questions of whether the president may be approaching the limits of his influence over his own party. Right now, the president's standing with the public is in perilous political territory with an approval rating that is significantly underwater across recent major polls. had his message on affordability has run a foul of voters even as he again lauded th ...

Trump is just really on the defensive right now. He has not had a good few weeks between the Epstein files and and Republicans defying him on that. Uh Republicans sort of not going along on the hill with his idea of the filibuster.Democrats swept a bunch of elections in early November. And so he is looking for ways to juice the economy ahead of the midterms. And we've seen him do that with the checks idea.We've seen them have to roll back some tariffs on some key agricultural products like um coffee, banana ...

Economic & Geopolitical News - US and Ukraine officials made progress in talks for a peace plan backed by President Trump [2] - European aerospace and defense index dropped more than 1%, after falling more than 3% on Friday [2] - President Trump met with New York City's mayor-elect, Zoran Mandami, focusing on the high cost of living [2] - Congressman Marjgerie Taylor Green announced she will resign from Congress on January 5th [2] Agriculture & Trade - Agriculture Secretary Brooke Rollins discussed aid for farmers, the soybean trade, and rising costs of food, labor, and fuel [3] - The Trump administration is removing tariffs on Brazilian coffee and beef to ease food costs for Americans [3] - Under Joe Biden, there was an increase in inputs interest rate 73%, fertilizer 36%, and labor increased 47% [6] - The US went from an agriculture trade surplus under Trump to a $50 billion deficit [15] - China is back to buying soybeans, with 12 million metric tons this year and 25 million metric tons over the next few years [18] Inflation & Healthcare - The Trump administration is working on bringing down healthcare costs, with an expected announcement this week [2] - Inflation numbers were down to 29%, after a high of 9% [27] - The average Thanksgiving meal is down about 5%, turkey is down 17%, and dinner rolls are down 22% [27] - Mortgage rates are down about $200 on average per month [27] Consumer & Food Industry - Food is up all over for restaurants, wholesale, and retail, and everybody's feeling the pinch [38] - Thanksgiving dinner itself is cheaper this year than it was last year, partly due to turkey prices being down about 17% [48] - Chef Lydia Bastionic recommends buying seasonally and using legumes to manage food costs [39][40]

I want to start on your discussions with the European Union. We were hearing some noise that it doesn't necessarily include reducing steel and aluminum tariffs from 50% to 15%. Is that off the table for now.Know what we're talking about. Everything is on the table When you have such a great partner as the European Union. They have 450 million people and a $20 trillion economy.So the opportunity is great. They would like to have steel and aluminum as part of this package. And we think it is very, very import ...

An executive order signed by President Trump uh removing tariffs on Brazilian coffee and beef is expected to ease food costs for Americans. Joining us now, Agriculture Secretary Brooke Rollins came to New York. >> I did.Great to be here. You're all on set. It's nice to have you here.>> Yeah, thank you. >> Affordability. I saw uh Secretary Bess and I kind of liked it.Uh we hope to see him soon too. But he said he was asked about some specific um item being up I don't know 8% or something like that. And I thi ...

November saw Democrats rack up key election wins in New York, New Jersey, and Virginia. They're hoping to pull off another in Tennessee in just over a week. On December 2nd, Democrats will try to flip Tennessee's seventh district in a special election with Democratic State Representative Aptton Bane running on cost of living issues.It's a deep red district that President Trump carried by more than 22 points last year. She's up against Republican Matt Vaneps, who received more than a million dollars from Tru ...

NEW YORK CITY'S MAYOR ELECT, THE 34-YEAR-OLD DEMOCRATIC SOCIALIST COMES TO WASHINGTON AND MEETS WITH PRESIDENT TRUMP IN THE OVAL OFFICE. >> SOME OF HIS IDEAS REALLY ARE THE SAME IDEAS THAT I HAD. >> WE FOCUSED ON AFFORDABILITY. WE FOCUSED ON COST OF LIVING CRISIS. >> I'LL SPEAK EXCLUSIVELY WITH MAYOR-ELECT ZOHRAN MAMDANI. PLUS POLITICAL PRESSURE. >> THE YEAS ARE 427. THE NAYS ARE ONE. >> CONGRESS OVERWHELMINGLY VOTES TO RELEASE THE EPSTEIN FILES AS CONCERNS GROW OVER THE ECONOMY AND THE WHITE HOUSE ROLLS BA ...