Good morning, America!
It’s Wednesday, October 14, 2026.
And today we’re going to get another report telling us something that most Americans already know.
Everything costs too damn much!
Today, the federal government releases its latest Consumer Price Index.
That’s the CPI.
It’s a fancy way of measuring how much more money you’re spending to live the same life you were living a year ago.
And guess what?
It’s not looking good.
Economists are predicting inflation has climbed to 3.6 percent.
Gasoline is averaging around $4.33 a gallon.
Food prices are up. Transportation costs are up. Housing is expensive. Insurance is expensive.
And here’s the real kicker.
For six straight months, inflation has been outpacing wage growth.
Think about that for a second.
You’re working just as hard as you were six months ago.
Maybe harder.
But your paycheck buys less.
You’re not getting ahead.
You’re falling behind.
And Washington wants to know why Americans are angry?
Are you kidding me?
Let me tell you something.
I’m 69 years old.
I’ve been watching this country for nearly seven decades.
I’ve seen recessions. I’ve seen inflation. I’ve seen gas shortages. I’ve seen interest rates go through the roof.
But what’s happening today is particularly disturbing.
Because we’re not just experiencing inflation.
We’re experiencing the consequences of political decisions.
Let’s start with the war in Iran.
That war began in late February.
And since then, energy prices have skyrocketed.
Now, when oil prices rise, everything gets more expensive.
Why?
Because practically everything in America moves on a truck, a train, a ship, or an airplane.
And they all need fuel.
So the price of gasoline doesn’t just affect what you pay at the pump.
It affects the price of bananas.
Yes, bananas!
Those bananas sitting in your grocery store traveled thousands of miles to get there.
And every time transportation costs increase, somebody has to pay.
Guess who?
You!
And me!
And every other American trying to make ends meet.
Now let’s talk about tariffs.
Remember when we were told that foreign countries would pay those tariffs?
Well, guess what?
That’s not how tariffs work.
American importers pay tariffs to the federal government.
And businesses often pass some of those costs along to consumers.
Economists at the New York Federal Reserve found that roughly a quarter of last year’s tariff increases had already been passed through to consumer prices, with the effects taking time to work through the economy.
And here’s something even more interesting.
Tariffs don’t just increase the prices of imported products.
They can increase the prices of American-made products, too.
Because when imported goods become more expensive, domestic manufacturers may have room to raise their own prices.
So congratulations, America.
We’ve managed to create a system where we’re paying more for foreign products AND American products.
What a deal!
And now let’s talk about the Federal Reserve.
The Fed raised interest rates last month.
And officials are considering raising them again.
Why?
To fight inflation.
But think about what that means.
Your groceries are more expensive.
Your gasoline is more expensive.
Your electricity is more expensive.
And now borrowing money is more expensive.
Want to buy a house?
Good luck.
Want to finance a car?
Get ready to pay more interest.
Want to start a small business?
That loan just got more expensive.
So we’re fighting inflation by making another part of everyday life more expensive.
Now, I understand the economic theory.
Higher interest rates reduce borrowing and spending, which can help slow inflation.
But here’s my question.
What happens when inflation is being driven by things higher interest rates can’t fix?
The Federal Reserve can’t end a war.
It can’t manufacture more computer chips.
It can’t eliminate tariffs.
And it can’t magically increase the world’s supply of oil.
So ordinary Americans are getting squeezed from both directions.
Higher prices on one side.
Higher borrowing costs on the other.
And the people making these decisions?
They’re not the ones standing in the grocery store wondering whether they can afford a gallon of milk.
Now, there’s another fascinating part of this story.
Artificial intelligence.
We’re experiencing one of the greatest technological revolutions in human history.
Companies are spending enormous amounts of money building AI infrastructure.
They’re competing for computer chips, electricity, construction materials, and skilled workers.
And that enormous demand is creating additional pressure on parts of our economy.
Think about the irony.
We’re developing technology that promises to make everything more efficient.
But building that technology is contributing to shortages and higher costs in certain industries.
Eventually, AI may help lower costs and increase productivity.
But right now, we’re paying for the construction of the future.
And who’s going to benefit from that future?
That’s a question we ought to be asking.
Because if artificial intelligence makes American businesses dramatically more profitable, shouldn’t American workers share in those gains?
Shouldn’t technological progress improve the standard of living for everybody?
Not just the people who own the technology?
Now, here’s where this gets political.
We’ve got midterm elections coming up in November.
And this is the final inflation report before Americans go to the polls.
Republicans are trying to hold on to Congress.
Democrats are trying to take it away.
And both parties are going to use these economic numbers to make their case.
But I want to ask a different question.
When did the American economy stop working for the average American?
When did owning a home become a luxury?
When did raising a family become a financial struggle?
When did working forty hours a week stop being enough to build a decent life?
And why do we keep accepting it?
You know, I’ve been talking to strangers for months now.
People from every walk of life.
Young people. Older people. Working people. Retired people.
And one thing keeps coming up.
Affordability.
People aren’t asking for mansions.
They’re not asking for yachts.
They’re not asking for private jets.
They’re asking for something pretty simple.
A decent place to live.
Food on the table.
Reliable transportation.
Healthcare they can afford.
And maybe enough money left over to enjoy life a little bit.
Is that really too much to ask in the wealthiest country on Earth?
I don’t think so.
And here’s something else I’ve learned from talking to people.
Most Americans aren’t nearly as divided as Washington would have us believe.
They want many of the same things.
They just disagree about how to get there.
And that’s where we need to start having a different conversation.
Because this isn’t simply about Republicans versus Democrats.
It’s about whether our economic system is delivering a decent standard of living to the people who make it work.
It’s about accountability.
It’s about priorities.
And it’s about recognizing that economic growth means very little if ordinary Americans aren’t sharing in it.
Now, when today’s inflation report comes out, you’re going to hear a lot of economists talking about percentages.
Three point four.
Three point six.
Core inflation.
Interest rates.
Monetary policy.
And all of that matters.
But let me tell you what matters more.
Can you afford to live your life?
Can you afford your home?
Can you afford your groceries?
Can you afford to raise your children?
Can you afford to retire?
Because that’s the real economic report card.
Not the stock market.
Not corporate profits.
Not the GDP.
The American family.
And right now, too many American families are failing that test through no lack of effort on their part.
So here’s my message to Washington.
Stop telling Americans how wonderful the economy is.
Stop blaming everything on the other political party.
Stop treating ordinary people like numbers on a spreadsheet.
And start building an economy where hard work actually pays off.
Because America doesn’t have a shortage of wealth.
America has a serious problem with how the benefits of that wealth are distributed.
And until we address that, we’re going to keep having this same conversation.
Month after month.
Election after election.
Year after year.
I’m John Eagleton.
I’m 69 years old.
And I believe we can do better.
In fact, I know we can.
But first, we’ve got to stop being spectators.
We’ve got to start being citizens.
We’ve got to ask questions.
We’ve got to demand accountability.
And we’ve got to vote.
Because the cost of living is rising.
But the cost of doing nothing may be even higher.
Have a great day, America.
And go talk to a stranger.
You might just discover you’re both worried about the same damn thing.
Join the Conversation