Inflation has come down closer to normal levels thanks to rising interest rates, but Trump's proposed policies on tariffs, immigration, and taxes could incite further inflation.
While inflation-adjusted wages have remained stagnant, many Americans still feel the impact of years of rising prices, leading to strained household budgets and reduced purchasing power.
The federal minimum wage, unchanged since 2009, has lost significant value when adjusted for inflation, reflecting a long-term trend of stagnant wages that complicates economic recovery.
Unintended policy consequences can manifest in unpredictable ways; economically sound solutions proposed by leaders might inadvertently exacerbate the issues they aim to resolve.
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