4: Higher Mortgages, Higher Bills, and Trump’s Latest “Fix” (w/ JVL)
Receipts with Catherine RampellShow Notes
Catherine Rampell and JVL break down the latest economic warning signs, from surging Treasury yields and 7% mortgage rates to the fallout from the Iran war and rising energy prices. They discuss why Scott Bessent’s efforts to push down bond yields are running into broader problems with inflation, government debt and uncertainty over the war. Catherine also explains why Donald Trump’s proposed diesel export ban could backfire by raising prices for gasoline and other petroleum products while disrupting global energy markets. Plus, they discuss the growing influence of corporate leaders in the Trump administration, the erosion of the rule of law and what economic uncertainty means for long-term business investment. And they debate Jensen Huang’s argument that students may not need to learn basic math in the age of AI—and what gets lost when foundational skills are treated as obsolete. Bulwark Live Shows: https://www.thebulwark.com/events
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Even Republicans are starting to notice Trump’s staggering corruption. Catherine Rampell and JVL take on the latest scandals engulfing Trump’s inner circle, new polling showing his own voters recognize the grift, and the economic damage being inflicted on ordinary Americans while Trump’s friends cash in.
Catherine Rampell is joined by Andrew Egger to discuss Elon Musk’s $276 million effort to rescue Republicans in the midterms, Trump’s DOJ targeting news organizations, and his latest deal with Vladimir Putin. Then, former Canadian Deputy Prime Minister Chrystia Freeland shares what she learned negotiating with Trump, why appeasing him doesn’t work, and what America’s billionaires should learn from the rise of Russia’s oligarchs. Read Catherine Rampell's "Receipts" newsletter: https://www.thebulwark.com/s/receipts Buy "Unreliable Boyfriend": https://www.amazon.com/dp/B0H4HKTLQB
Catherine Rampell and JVL break down Trump’s escalating war on the Federal Reserve, including his latest attempt to remove Fed Governor Lisa Cook and the growing threat to the central bank’s independence. They discuss how Trump’s tariffs and war with Iran are fueling inflation, driving up prices for everything from tomatoes to Texas brisket, and potentially hurting Republicans in key Senate races. Plus, JD Vance struggles to define socialism, the administration’s crackdown on H-1B workers raises questions about anti-immigrant politics, and why both parties may be moving toward a more government-controlled economy. Read and watch more from Catherine: https://www.thebulwark.com/s/receipts
Catherine Rampell and Sam Stein discuss Scott Bessent’s strange interview, from his “I am the house” bravado and boasts about Melania’s friends to his temper and possible political ambitions. They also react to Trump’s latest pitch for $5,000 checks and his remarkable claim that he knows more about basically everything than anyone. Then Jasper Hill Farm’s Mateo Kehler joins to explains how Trump’s trade war with Canada wiped out his cheese company’s fastest-growing export market and why policies sold as a lifeline for American dairy farmers are instead driving up costs and squeezing businesses.