How Higher Inflation and Tariffs Impact Your Wallet
Hey everyone, it’s been a week with some pretty significant economic news, and honestly, some of it feels like a bit of a gut punch. Last night on the CBS Evening News, they highlighted a really concerning report: most Americans aren’t earning enough to truly afford a basic quality of life.
Think about that for a second. This isn’t just about scraping by for food and rent anymore. This report factored in things we all rely on, like technology for work and school, healthcare costs, and even childcare. And the bottom 60% of households? It’s out of reach for them. That’s a huge chunk of our country.
Then, adding to the picture, Federal Reserve Chair Jerome Powell was talking about a potential new economic landscape with higher inflation risks. What does that translate to? Well, it likely means interest rates could stay higher for longer.
To help us make sense of all this, CBS brought in Clare Jones, the U.S. Economics Editor for the Financial Times, and she laid it out pretty clearly.
Clare pointed out that Powell’s remarks really show how much things have shifted. Remember not that long ago when the big worry was too little inflation? Now, the Fed is preparing for the possibility of too much. We’ve already seen how recent price hikes have squeezed our wallets, and higher interest rates are likely to keep that pressure on. Say goodbye to those super low interest rates we saw after the 2008 crisis and during the early pandemic days.
So, is this the start of a slippery slope towards a weaker economy, maybe even a recession? It’s the question on everyone’s mind, right?
Clare offered a little bit of a silver lining, mentioning some recent high-level talks between the US and China that led to a significant drop in tariffs on Chinese goods – from a whopping 145% down to 30%. That’s definitely a positive step and should offer some relief.
However, she also cautioned that we’re likely still looking at higher prices and slower economic growth in the coming months. A big part of that is the lingering impact of the tariffs and trade policies from the previous administration.
We even heard how major players like Walmart are expecting to raise prices later this month specifically because of these tariffs. Think about what that means for families already struggling to afford the essentials. As Clare put it, “It’s bad news.”
And it’s not just the big corporations feeling it. Small businesses are echoing these concerns. While the tariff reduction is better, 30% is still a significant cost that will likely be passed on to us, the consumers.
Here’s the kicker: this tariff reduction is only a 90-day pause. So, there’s still a huge cloud of uncertainty hanging over businesses and our everyday spending.
Clare’s final assessment was pretty blunt: “Frankly, we’re still in a worse position than we were at the start of the year. The outlook isn’t a total disaster, but it’s not looking particularly hopeful either.”
It’s a reality check, for sure. It feels like we’re all navigating a tougher economic landscape right now, and these insights from the CBS Evening News and Clare Jones really highlight the challenges many of us are facing. Let’s hope those talks and the tariff adjustments lead to more positive changes down the road.
What are your thoughts on all this? How are you feeling the impact of these economic shifts? Let’s chat in the comments below.
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INTERPOL reps at NADA anti-doping workshop on intelligence gathering – ThePrint – PTIFeed
New Delhi, May 16 (PTI) What’s INTERPOL and CBI got to do with an anti-doping workshop? Turns out quite a lot as World Anti-Doping Agency (WADA) increasingly prioritises gathering intelligence and in-depth investigation to strike at the source of the…PTI (ThePrint)
Want to know how OpenAI's latest programming AI agent Codex works? In this official OpenAI demonstration, you will see:
Core abilities of Codex: How to connect to GitHub, browse and understand code repositories independently, make code modifications, and automatically generate pull requests (PRs).🧵1/2
RE: threads.com/@luokai/post/DJuVy…
#AI Threads
OpenAI has launched Codex, a software engineering agent that can handle multiple tasks in parallel within isolated sandbox environments. These tasks include writing code, fixing bugs, answering codebase questions, and making pull requests. Codex runs on the cloud and is powered by the optimized o3 model, known as codex-1. It has shown strong performance in SWE-Bench and OpenAI’s internal benchmark tests, generating code in a style similar to humans.🧵1/4openai.com/index/introducing-c…
#AI Threads
New from Julian Barnes, Maggie Haberman and me: Trump Appointee Pressed Analyst to Redo Intelligence on Venezuelan Gang The move followed a disclosure that intelligence agencies disagree with a key factual claim Trump made to invoke a wartime deportation law. www.nytimes.com/2025/05/16/u...
artist: Mathew Brady Studio, active 1844 - 1894
source: National Portrait Gallery
notes: The Frederick Hill Meserve Collection comprises more than five thousand […]
#Art #Design #Museum #Gallery #MastodonArt #MastoArt #Culture #Random
npg.si.edu/object/npg_NPG.81.M…
We're very happy to announce the very first keynote at #FediForum, ever, by nobody other than science fiction author, activist and journalist extraordinaire Cory Doctorow.
Cory will join us on the first day of FediForum, June 5, to set the context and stage for the energetic and substantive discussions that are sure to follow on how, together, we can and will create the world we all want to live in, on the Open Social Web and beyond.
More info and registration: fediforum.org
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Reeves Faces Call From Her Local Party to Abandon Disability Cuts
https://www.bloomberg.com/en/news/thp/2025-05-17/rachel-reeves-faces-call-from-her-local-labour-party-to-abandon-welfare-cuts?utm_source=flipboard&utm_medium=activitypub
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Are we to believe anything the government tells us?
By Ron Hart
July 28, 2024
"but slurring gay women or men is just as unacceptable"
I think the word you're not willing to say is probably worse
Just a thought
RE: threads.com/@bronze495/post/DJ…
Preston Huckabee (@bronze495) on Threads
In my presence I have let them know. But does it matter? How acceptable is using the Nword in public discourse? Well lately itll win you a million bucks. But sluring gay women or men is just as unacceptable. And should be called out.Threads
Bezuidenhout and the Consone Quartet play Mayer and Mozart in Schwetzingen - Schedule // - www.worldconcerthall.com
SWR Schwetzingen Festival. Kristian Bezuidenhout, fortepiano, and the Consone Quartet play: Emilie MAYER: String Quartet in G major. MOZART: Concerto No. 13 in C major, K. 415, arranged/ Piano Quintet in E-flat major, K. 452, arranged.www.worldconcerthall.com
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U.S. President Donald Trump said he still believes Russian President Vladimir Putin is ready to strike a deal to end the war in Ukraine, but warned that if negotiations fail, his administration will move forward with sanctions against Moscow.
kyivindependent.com/this-is-tu…
#Ukraine #Russia #US #Trump #Putin
'This is turkey time' — Trump vows sanctions on Moscow if peace talks fail, says Putin is 'tired' of war
"Honestly, I will (impose sanctions), if we're not gonna make a deal," Trump told Fox News’ Bret Baier in an interview published on May 16. "This would be crushing for Russia because they're having a hard time now with the economy."Olena Goncharova (The Kyiv Independent)
With sales tanking because its CEO went full “Roman Salute”, the stock price can only defy gravity for so long. So Tesla is already making changes to stave off the inevitable shareholder lawsuits.
cnbc.com/2025/05/16/tesla-limi…
Tesla limits investors' ability to sue over breach of fiduciary duties
Tesla announced a change to its corporate bylaws that will limit shareholders ability to sue the company.Lora Kolodny (CNBC)
@tchambers Holy crap.
So the company unilaterally instituted a policy of “only shareholders with 3% or more stake in the company can bring suit” - so now, nobody with less than $30 billion in company stock can sue them.
Funny world where literal billionaires can be “too poor to have any legally recognized opinion”
Well, color me surprised.
Consumer Reports investigation finds Kroger stores have been overcharging shoppers on sale items.
amazon.com/dp/B07RL92GX8?ref=t…
Talks In Istanbul Unlikely To Produce Results - Oriental Review
There is clearly a split over a Ukraine settlement. The Germans, British and French, who are the main NATO and EU powers, oppose a deal.Stephen Bryen (Oriental Review)
Enter the #Fediverse
privacyinternational.org/long-…
Enter the Fediverse
If you’ve ever used TikTok, Instagram, or X/Twitter, you will already be familiar with centralised social media.Centralised social media means big company owns the app, controls the software, and keeps all your data.Privacy International
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Le blocus israélien de Gaza est un "outil d’extermination". Human Rights Watch affirme que des pays comme les États-Unis, le Royaume-Uni, la France et l’Allemagne pourraient être "responsables" de "génocide" pour ne pas avoir agi.
mcinformactions.net/le-blocus-…
#israel #palestine #Hamas #Cisjordanie #Gaza #genocide
Le blocus israélien de Gaza est un "outil d'extermination". Human Rights Watch affirme que des pays comme les États-Unis, le Royaume-Uni, la France et l'Allemagne pourraient être "responsables" de "génocide" pour ne pas avoir agi. - [mcInform@ctions]
Le blocus alimentaire, hydrique et humanitaire imposé par Israël à Gaza depuis huit semaines estmcinformactions.net
Rembrandt Harmensz. van Rijn (1606 - 1669), Dutch, born Leiden
Etching on off-white modern laid paper
17th century
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After Months Of Chaos And Controversy, Romanians Head To Polls To Elect President
After months of political chaos, Romanians go to the polls to finally choose a president, Previous polls last year were anulled and the frontrunner banned from taking part in this election.Ray Furlong (RFE/RL)
17 May 1914 | A Czech Jewish woman, Zděnka Weilová, was born in Březnice.
She was deported to #Auschwitz from Theresienstadt Ghetto on 18 December 1943. She did not survive.
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The image shows two kitchen items on a wooden surface. On the left is a red package of Taekyung Red Pepper Powder, prominently featuring the text "Taekyung Red Pepper Powder" in both Korean and English. The package is labeled as "Coarse" and indicates a net weight of 454 grams (1 pound). The packaging also includes certification marks such as ISO, HACCP, and KOSHER, and features images of red chili peppers. On the right is a cylindrical container of Mitani Classic Chicken Salt, an all-purpose seasoning. The label states it is "All Natural," "No MSG Added," and "Gluten Free." It also mentions "Vegetarian Approved" and "Australian Origin." The container has a white lid with a perforated top for easy dispensing.
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Russian forces actively using small infantry groups in Sumy region – military
Russian troops continue shelling Ukraineєs border areas, with the Sumy region suffering the most. — Ukrinform.Ukrinform
Just Enough Cryptography
Introduction to cryptography: codes and ciphers, symmetric and asymmetric cryptography, hash functions, digital signatures, and digital certificatesBob's Pages of Travel, Linux, Cybersecurity, and More
O Sul melhor em tudo, inclusive na arte de ser analfabeto...
"Dados de 2024 do Indicador de Alfabetismo Funcional (Inaf) apontam que 35% da população da Região Sul, entre 15 e 64 anos, tem habilidades limitadas de leitura, escrita e matemática. O índice é maior que a média nacional, de 29%."
Fonte: jornal o Sul.
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A imagem mostra uma pessoa estudando, com foco em um caderno aberto em que está resolvendo um quebra-cabeça. O caderno contém palavras relacionadas a "ESCOLA PROFISSIONAL" e "TURMA ALLANAU", com uma palavra "PASCOA" destacada. A pessoa está usando uma caneta para marcar as letras no quebra-cabeça. Ao redor do caderno, há vários materiais escolares, incluindo lápis coloridos, uma borracha, um marcador e um estojo rosa. No canto superior esquerdo, há o logotipo da "RÁDIO PAMPA" com a frequência "97,5 FM | 88,3 FM". Na parte inferior da imagem, há um texto em destaque que diz "EDUCAÇÃO" e "SUL DO BRASIL LIDERA ÍNDICE DE ANALFABETISMO FUNCIONAL NO PAÍS".
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Downtown🏙️
📷: #googlepixel 7 pro
#toronto #photography #pixelphotography #cityscape #city #torontophotographer #cntower #streetphotography
If you're curious about how to create time-lapse photos/videos, I strongly recommend you see this video by @ewen.
YouTube: youtu.be/R8Sp-QHU4iI
PeerTube: makertube.net/w/2Lc9xUXC5sh4z7…
For me, photography and filmmaking require skills on an artistic level and a technical level. Top marks to Ewen Bell there — but in addition to that, in this video, he adds an extra dimension with how effectively he communicates and educates with this complex subject-matter.
If you've been thinking about having a go with time-lapse imagery, I hope this video inspires you to pick up your camera and make something beautiful.
#TimeLapse #Photography #Melbourne #Filmmaking #VideoEditing
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The Missing Ingredients for a Really Good Time-Lapse
Deep dive into elevating your time-lapse technique from janky to swanky. Super smooth and super lovely. I spent all winter chasing the motion around Melbourne and found a few keys that made all the difference.00:00 Intro
02:28 Get Off Your Butt
05:22 Stills vs S&Q
07:48 180 Degree Rule
10:05 Neutral Density
13:16 Patience
16:58 Blue Nights
20:33 Wide Composition
23:04 Post Capture
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Jump directly to my blog for loads of articles that delve into the philosophy of photography. It's a lot more than just cameras:
ewenbell.com/blog#TimeLapse #Photography #EwenTube #Lumix #Melbourne
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Join Ewen's newsletter for short updates on new articles and photographic inspiration. A special treat for new subscribers is a FREE download of my 80 page eBook called 'Camera Not Included'.Photography by Ewen Bell
Critics question Meta's Louisiana datacenter plans for three new power plants; Meta's carbon footprint is up from 2020, when it pledged 2030 net-zero emissions (Justine Calma/The Verge)
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techmeme.com/250516/p32#a25051…
Meta faces Democratic probe into plans to power a giant data center with gas
Meta faces questions over whether plans to power its largest AI data center yet with gas contradict the company’s sustainability claims.Justine Calma (The Verge)
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(AI Alt-Text)
"I'll be back, though it takes forever"
We'll need that bathroom fairly early, just saying. There's chocolate milk in the fridge.
#UninvitedGuestASongOrPoem
#HashTagGames
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Profitez des vidéos et de la musique que vous aimez, mettez en ligne des contenus originaux, et partagez-les avec vos amis, vos proches et le monde entier.www.youtube.com
Gina “Minehart” strikes again — snapping up another massive cattle station while her own children fight for scraps in court. Australia’s richest woman really puts the me in meat empire.
Greed: it’s a family tradition.
#australiangreed #ginarinehart #dynastywars #landgrab #notsharing #greed
dailymail.co.uk/news/article-1…
Billionaire magnate Gina Rinehart snaps up one of the country's biggest cattle farms for a whopping...
Australia's richest woman Gina Rinehart has quietly acquired a $35million cattle station to her already sprawling agricultural empire.Nicholas Comino (Daily Mail)
Former FBI chief accused of calling for Trump’s assassination
Former FBI Director James Comey faces backlash after posting a photo interpreted as a call for Trump's assassination.Al Mayadeen English (Former FBI chief accused of calling for Trump’s assassination)
Wine 10.8 Released With Performance Improvement
Wine 10.8 is out today as the newest bi-weekly test release for this open-source solution to enjoy Windows games and apps on Linux. Wine is what also forms the basis of Valve's Proton for Steam Play for a great gaming experience on Linux...
phoronix.com/news/Wine-10.8-Re…
#movie recommendation
Alamar
A Mayan father teaches his young son the ways of living off the natural bounty of Banco Chinchorro reef in the Caribbean Sea. Incomparable film. Nature documentary. Cultural record. Father & son life lessons. Tender, soothing, inspiring.
i havent drawn my monthly oc and my friend is crowdfunding her comic O SARILHO so guess i'll crossover both
sketch to work on another day
it's nearly midnight i'll drop a link some other time or just annoy shizamura either or
funny cause this guy would never use a gun, he would beat you to death. maybe stab, but here we are doing ref studies so wheh
Statue 1: set on fire
Statue 2: melted face and then kidnapped
I take everything back I ever said about you Slovenia. You're ok in my book.
Gaza : cent morts dans un intense pilonnage israélien selon les secours
mcinformactions.net/gaza-cent-…
#israel #palestine #Hamas #Cisjordanie #Gaza
Gaza : cent morts dans un intense pilonnage israélien selon les secours - [mcInform@ctions]
Cent Palestiniens ont été tués vendredi dans un intense bombardement israélien à Gaza, ont indiqué les secours, le chef des droits de...mcinformactions.net
OVERLOOK
onlookers enjoy the view from a perched wooden overlook.
#moody #streetphotography #nature #green #gritty #photography #overlook #visualstorytelling #photooftheday #explore #contrastphotography #wood #moody #atmospheric #structure #raw #virginia #roanoke #millmountain #canon #canonm10
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