As the US midterms approach, Trump’s boasts on the economy fall flat with voters

AI desk brief

US inflation, higher fuel costs and the Fed’s latest rate hike are the key macro takeaways, with the article arguing Trump’s tariff and Iran-war policies have pushed prices higher even as growth slows. Inflation is cited at 3.4% versus 3.0% when Biden left office, gas is said to be about 50% higher since the Iran conflict began, and consumer sentiment has dropped to near-record lows.

For metals, the mix is net supportive on the margins if it keeps real rates elevated but also underscores sticky inflation and policy uncertainty, both of which can sustain safe-haven demand. The piece also highlights weaker household affordability and softer growth, which adds to the stagflation narrative traders typically watch for gold.