When it comes to inflation, it's been a tough road for the liberal media thus far in the Trump administration. Inflation caused by new tariffs hasn't materialized. To the contrary, the consensus prediction is for a moderation in inflation for 2025, within a range of 2.8-3.2%.
But liberals want to keep hope alive!
On today's Morning Joe, in the context of a discussion about Trump's tariff deal with the EU, the panelists expressed the fond desire, cloaked in analysis, that prices would eventually rise—to Trump's detriment.
First, John Heilemann insisted "we have heard for a long time that what will happen if we impose tariffs that are higher than existing levels, that we're going to start to see prices rise on the products."
Then MSNBC's Ali Vitali -- who normally hosts the Way Too Early show in the 5 am hour, nudged Franklin Foer of The Atlantic to echo the show's prevailing sentiment:
The road is getting shorter. We've yet to see the true tangible impact of tariffs in some of these economic reports that we look at. But analysts do say it's coming. And what they see in a deal like the EU one, for example, is that it's not enough to completely disrupt global trade, but it is enough to pass on higher prices to consumers. And this is a guy who loves to say promises made, promises kept. On this, it doesn't necessarily sound like he's going to be able to, right?
Love Vitali's concluding "right?" to Foer. C'mon Franklin. Tell me prices will go up and Trump will break his promise. I'm beggin' ya, buddy!
Franklin Foer of The Atlantic scratched their energetic itch:
"For now, companies have swallowed so much of the cost. They haven't passed them on fully to consumers. "But every law of business and economics suggests that over the long run, that's not something that they'll be able to sustain. So there is going to be a point at which prices are going to start to tick upwards. And [Trump's] gonna, he's gonna get slammed with that eventually."
They're rooting for Trump to fail -- which is their usual schtick, when they're not rooting for Trump in jail. In this case, they seem to be rooting for Americans to suffer more inflation. But as inflation soared,the Morning Joe gang couldn't stop touting Biden's impressive presidency (Mika goes ga-ga) and the Democratic Party's economic "competence."
Here's the transcript.
MSNBC
Morning Joe
7/28/25
6:07 am EDTJOHN HEILEMANN: The other question is, what happens to prices? I mean, we have heard for a long time that what will happen if we impose tariffs that are higher than existing levels, that we're going to start to see prices rise on the products.
So from the standpoint, from the narrow domestic political context for American consumers, are all of these products that we paid lower prices for in the past, are we going to be paying higher prices for them now? And do American consumers notice?
Trump loves, not only loves the art of the deal, but he loves to be able to declare victory: I made a deal. What does the deal accomplish? What does the deal do for us? Does it actually accomplish anything that's good for American consumers? Does it -- what are the long-term implications for the alliances and global trade?
Those questions are down the road. Donald Trump wants to take the short-term win. In this case, for him, averting catastrophe, but being able to announce a deal is kind of enough.
ALI VITALI: Those questions might be down the road, Frank, but the road is getting shorter. We've yet to see the true tangible impact of tariffs in some of these economic reports that we look at. But analysts do say it's coming.
And what they see in a deal like the EU one, for example, is that it's not enough to completely disrupt global trade, but it is enough to pass on higher prices to consumers. That was a central political issue for Trump in 2024.
And this is a guy who loves to say promises made, promises kept. On this, it doesn't necessarily sound like he's going to be able to, right?
FRANKLIN FOER: Right. Well, for now, companies have swallowed so much of the cost. They haven't passed them on fully to consumers.
But every law of business and economics suggests that over the long run, that's not something that they'll be able to sustain. So there is going to be a point at which prices are going to start to tick upwards. We don't know exactly the magnitude of that, of course.
But this does undercut the fundamental promise of the Trump administration, and he's gonna, he's gonna get slammed with that eventually.
