Latest / INSIGHT TODAY / Enten shows the 'most troublesome sign' for Trump, GOP midterms

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Enten shows the 'most troublesome sign' for Trump, GOP midterms · INSIGHT TODAY

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  Speaker 1: This morning, prices at the pump the national average up
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  Speaker 1: another four cents to three eighty eight a gallon. My
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  Speaker 1: ates are very bad there that of course the price
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  Speaker 1: against this is diesel right there, which is even more expensive.
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  Speaker 1: But it gets to the prices that we're paying for everything,
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  Speaker 1: the cost of living and the potential political impact with
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  Speaker 1: us now. CNN Chief Data analyst Harry Atton.
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  Speaker 2: Good morning to you. Good morning.
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  Speaker 1: So the president, how do voters see him on the
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  Speaker 1: issue of the cost of living in prices and how
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  Speaker 1: does it compare to say when he was elected.
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  Speaker 3: You know, I would say that this is the most
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  Speaker 3: troublesome sign that I have seen for the President of
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  Speaker 3: the United States and the Republican Party so far. What
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  Speaker 3: are we talking about, Well, let's take a look here,
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  Speaker 3: voters on Trump and the cost of living.
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  Speaker 2: You go back when he.
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  Speaker 3: Was reelected, back at October of twenty twenty four, he
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  Speaker 3: was beating Kamala Harris by three points on the cost
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  Speaker 3: of living. Right, look at his.
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  Speaker 2: Not approval rating. Now, whoo down.
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  Speaker 3: Underwater we go? Is that approval at a record low
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  Speaker 3: forty one points below water? You can't win when you're
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  Speaker 3: at forty one points below water. On the cost of living.
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  Speaker 3: Kamala Harris couldn't win, The Democratic Party couldn't win. And
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  Speaker 3: I'm here to tell you that there's a better chance
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  Speaker 3: that I root for the New York Yankees than Donald
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  Speaker 3: Trump and the Republican Party winning. When he's forty one
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  Speaker 3: points below water, and.
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  Speaker 1: This was March twelfth to March sixteenth. We could see
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  Speaker 1: even more. You know, gas prices rises and prices go
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  Speaker 1: up in the coming days and weeks with the Iran war,
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  Speaker 1: so this number could get even worse. What about independence?
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  Speaker 3: Yeah, what about independence? You'd think this forty one points
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  Speaker 3: below water is bad? Take a look at independence. It's
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  Speaker 3: even worse. I mean, sixty points underwater when it comes
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  Speaker 3: to Trump and the cost of living among independence.
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  Speaker 2: Again a record low.
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  Speaker 3: You go back to October of twenty twenty four, he
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  Speaker 3: was winning on this issue over Kamala Harris by eleven points.
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  Speaker 3: Look at that switch drew. That is a seventy one
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  Speaker 3: point switch drew in the wrong direction for Donald Trump
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  Speaker 3: when we're coming to the cost of living and independence.
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  Speaker 3: And this, my dear friends, is just a political night
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  Speaker 3: mayor waiting to happen for the Republican Party come the
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  Speaker 3: mid term election.
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  Speaker 1: You why do people really care about the cost of living?
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  Speaker 3: You know, yes they do, mister Verman. They do care
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  Speaker 3: about the cost of living. Why was Donald Trump re
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  Speaker 3: elected back in twenty twenty four? It was the cost
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  Speaker 3: of living? It was the number one issue, Okay, number
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  Speaker 3: one issue, top election issue, cost of living. Thirty eight
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  Speaker 3: percent of Americans said it was so back in October
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  Speaker 3: of twenty twenty four. Look now it's the same percentage
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  Speaker 3: of anything. It's point higher though it's within the margin
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  Speaker 3: of thirty nine percent. Simply put, I am saying this
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  Speaker 3: loud and proud. You cannot win an election when you
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  Speaker 3: were the incumbent party and the top issue is the
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  Speaker 3: cost of living and you're the president of the United
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  Speaker 3: States and you're net appropriating on it is forty one
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  Speaker 3: points underwater. I mean, you're with Greg lugainis at this
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  Speaker 3: point and with Independent sixty points on the one.
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  Speaker 2: What are you kidding me?
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  Speaker 3: You cannot win if you're the president and you're the
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  Speaker 3: Republican Party and you're not addressing this issue. Way if
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  Speaker 3: audio Sumikos, goodbye, see you lady of your House majority,
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  Speaker 3: and may it will be your Senate majority as well.
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  Speaker 1: You're saying it loud, which is very unusual for you.
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  Speaker 2: I know, it's extremely unusual. A lot of coffee this morning.
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  Speaker 1: Let's talk about inflation and what the prediction markets they're saying,
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  Speaker 1: what direction they see it going going forward?
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  Speaker 3: Yeah, okay, you talk about sixty points underwater, you talk
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  Speaker 3: about forty one points underwater overall.
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  Speaker 2: You know, when we're talking.
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  Speaker 3: About what the prediction market's coucil prediction markets have chance
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  Speaker 3: marches CPI year over year is above February is two
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  Speaker 3: point four percent.
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  Speaker 2: It's going in the wrong direction.
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  Speaker 3: Ninety five percent chance that inflation rises in the month
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  Speaker 3: of March. So you got the number one issue that
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  Speaker 3: is killing, killing the incombent party, killing the president right now,
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  Speaker 3: and it is going in the wrong direction.
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  Speaker 2: With gas prices going higher.
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  Speaker 3: Just you know, I'm just gonna lay back on my
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  Speaker 3: Yiddish bayve pityvey.
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  Speaker 1: No, the political cost of this could be going up soon, Harriett,
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  Speaker 1: And thank you very much for this.
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  Speaker 4: We are tracking rising gas prices and in the war
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  Speaker 4: with Iran. US Vice President J. D. Vance addressed the
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  Speaker 4: climbing cost during the appearance in Michigan on Wednesday.
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  Speaker 5: The President said this, and I certainly agree with it.
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  Speaker 5: This is a temporary blip, okay. What happened under the
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  Speaker 5: Biden administration is the gas prices were high for four years.
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  Speaker 5: Gas prices are higher right now, and frankly, they're not
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  Speaker 5: even as high as they were during certain parts of
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  Speaker 5: the Biden administration because of what's going on in the
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  Speaker 5: Middle East. It's not going to last forever. We've got
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  Speaker 5: a road ahead of us for the.
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  Speaker 2: Next few weeks, but it's tipperary.
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  Speaker 4: US gas prices have risen eighty six cents per gallon
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  Speaker 4: on average since the start of the war, and Iron's
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  Speaker 4: closure of the Straight of Horn moves. In a bid
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  Speaker 4: to help offset those costs, Trump administration announced it is
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  Speaker 4: temporarily waiving the Jones Act, which will allow foreign flagships
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  Speaker 4: to transport oil and gas between US ports, for the
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  Speaker 4: next sixty days. The US Federal Reserve is predicting the
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  Speaker 4: disruption of the global energy markets will be relatively short lived,
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  Speaker 4: but is giving itself.
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  Speaker 2: Some wiggle room.
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  Speaker 4: FED Chair Jerome Powell says, we just don't know how
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  Speaker 4: things are going to shake out. What we do know
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  Speaker 4: is that interest rates will not be going down yet
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  Speaker 4: as expected. The FED voted to keep benchmark lending rates
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  Speaker 4: unchained at three and a half and three and a
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  Speaker 4: quarters percent.
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  Speaker 6: You can worry about all of the ways that oil commodities,
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  Speaker 6: oil related commodities go into manufacturing that kind of thing.
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  Speaker 6: The truth is it's completely out of our hands, and we,
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  Speaker 6: just like everybody else, we have to just wait and
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  Speaker 6: see what happens. And it'll come down to how long
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  Speaker 6: you know, the current situation lasts, and then what are
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  Speaker 6: the effects on prices, and then how to consumers react
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  Speaker 6: to that kind of thing. Really, I wouldn't speculate in
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  Speaker 6: any way, and there's really not a lot we can
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  Speaker 6: do other than kind of watch and see.
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  Speaker 4: How went on to say that a rate cut won't
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  Speaker 4: happen until there's progress on inflation and the overall performance
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  Speaker 4: of the economy. So I mean, now and talk about that.
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  Speaker 4: Ryan Patel, Senior Fellow with the Drucker School of Management
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  Speaker 4: at Claremont Graduate University, joining us live here in Los Angeles. Ryan,
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  Speaker 4: thanks for being with us this idea of this being temporary.
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  Speaker 4: If you buy that.
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  Speaker 7: It makes us feel better, Yes, sure, I mean I
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  Speaker 7: think the temporary piece of what you know. Jerome Powell,
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  Speaker 7: also mentioning too right the interest rate's not going anywhere.
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  Speaker 7: That's the easy decision he's made. Yeah, right, And I
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  Speaker 7: think part of this is the spotlight's not on him
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  Speaker 7: no more. Right, The spotlight really is what we're not talking.
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  Speaker 4: We're not talking about firing Jerome Powell. That's like eighty
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  Speaker 4: five news cycles.
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  Speaker 2: And we're not saying when is it going to come down? Yeah,
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  Speaker 2: you can't ask to answer that question based on what
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  Speaker 2: is going on right now.
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  Speaker 7: And you know, inflation, oil prices, crisis, all those things
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  Speaker 7: are interconnected.
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  Speaker 4: So the interest rate thing real quickly, what does that
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  Speaker 4: mean for the average person? How does that affect their
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  Speaker 4: daily life?
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  Speaker 3: Yeah?
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  Speaker 7: I mean if you were hoping for to refi a mortgage,
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  Speaker 7: or you were hoping to get these interest rates to
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  Speaker 7: go lower so you can do something with it, you know.
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  Speaker 2: To me, the timeline just further out right.
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  Speaker 7: I Mean, the whole point of last year when you
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  Speaker 7: and I were speaking was how fast can we recover
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  Speaker 7: and how fast can it can unlock the home prices
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  Speaker 7: of real estate markets.
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  Speaker 2: Now it's going to take a little bit longer. Yeah.
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  Speaker 4: So we've been showing throughout the night this picture of
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  Speaker 4: where crude oil prices are at in the last hour
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  Speaker 4: they were at one hundred and eleven, which is up
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  Speaker 4: from yesterday it was like one hundred. How high do
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  Speaker 4: we think they can go? How high have they ever
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  Speaker 4: gone before?
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  Speaker 2: Yeah?
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  Speaker 7: Right, historical prices right, one forty one fifty and the
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  Speaker 7: nineteen seven you know, well two decades ago, and even
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  Speaker 7: when the oil prices in nineteen seventies, we've seen spikes
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  Speaker 7: like this. The issue here of this time, why it's
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  Speaker 7: different is that twenty percent of the oil goes through
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  Speaker 7: the Strait, right, That to me is a huge thing,
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  Speaker 7: and we're so interconnected and does make an impact of
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  Speaker 7: global other aspects as well. And you just did some
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  Speaker 7: breaking news before I even walked in here that there's
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  Speaker 7: more attacks occurring oil fields, which is not even in
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  Speaker 7: what markets have even priced in going into tomorrow and today.
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  Speaker 7: And we saw Asian markets already reacting to it. So
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  Speaker 7: you know, we're it's still we're got to buckle down.
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  Speaker 4: And we just saw that that oil price went up
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  Speaker 4: a dollar in the last hour just as we as
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  Speaker 4: we were talking. So what kind of position is the
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  Speaker 4: US now in because of what we're seeing in the
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  Speaker 4: Strait of horrormues? This is impacting all these different countries
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  Speaker 4: in different ways. Who does it benefit who's really hurting?
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  Speaker 2: Right? Yeah, I mean right now.
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  Speaker 7: You know, in the conversation you would think it's the US,
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  Speaker 7: but really they're at the bottom. They're really kind of
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  Speaker 7: more insulated than Asia. For example, when you think of China, Japan,
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  Speaker 7: and India. Who gets in South Korea that gets a
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  Speaker 7: lot of their oil from the Middle East.
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  Speaker 2: Then you kind of go.
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  Speaker 7: Down the route to emerging markets who doesn't have maybe
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  Speaker 7: Pakistan Bangladesh that doesn't have the currency to kind of
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  Speaker 7: withstand or the reserves to restand like the US can.
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  Speaker 7: Then finally, you know, countries like Italy and Germany in
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  Speaker 7: the EU also have an impact where the US isn't
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  Speaker 7: a better position that they had been compared to a
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  Speaker 7: decade ago, where they can go to the reserves and
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  Speaker 7: insulate some of it better than before.
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  Speaker 4: I mean, in the US has more energy independence than
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  Speaker 4: we used to because of some of these decisions. Yes,
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  Speaker 4: correct that Republicans would say to drill, baby, drill, But
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  Speaker 4: that's pretty good to have some of that going on
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  Speaker 4: right now. So let's talk about where we are for everybody,
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  Speaker 4: how are you watching us right now? Everybody's gas prices
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  Speaker 4: are going to get more expensive, probably going to see inflation, right,
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  Speaker 4: and we're going to see prices on everything get more expensive.
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  Speaker 4: So how should we prepare?
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  Speaker 2: What should we be doing? Well?
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  Speaker 7: I think, first off, right, if we are going to
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  Speaker 7: go down that route, you can't be caught off surprise
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  Speaker 7: to going.
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  Speaker 2: Let me wait until it gets there.
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  Speaker 7: Let me wait until gets to one hundred and forty
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  Speaker 7: one hundred fifty dollars per barrel or forty more percent.
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  Speaker 2: That's a that's not a plan or a strategy.
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  Speaker 7: I think part of oil or gas for those of
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  Speaker 7: the average consumer, be very efficient with how you spend
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  Speaker 7: and drive. Right, if you go to the grocery store
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  Speaker 7: four times a week, make that one time a week
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  Speaker 7: and get everything you need that week. And I know
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  Speaker 7: it sounds very small, but overall, when the gas prices
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  Speaker 7: have increased forty percent and you have to drive to
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  Speaker 7: work every day, you are to fill gas every two
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  Speaker 7: you know you have to go and get that gas
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  Speaker 7: at a price that you feel like you can. And
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  Speaker 7: so all those little things to me matter when it
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  Speaker 7: comes to that. And also, don't assume this is not
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  Speaker 7: just about gas prices. This is about global supply chain right,
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  Speaker 7: So global supply chain leads to what manufacturing food, So
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  Speaker 7: pay attention to those prices too when you're going to
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  Speaker 7: the grocery store as well. So again I don't want
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  Speaker 7: people to figure out I'm just paying attention to the
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  Speaker 7: gas prices. It is a supply chain problem that we're
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  Speaker 7: facing right now.
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  Speaker 4: That everything could be more expensive and it's not as
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  Speaker 4: easy for these ships to move, and then what happens
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  Speaker 4: as a result of that. And you suggested that if
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  Speaker 4: you've got a boss that allows it, maybe asked to
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  Speaker 4: work from home sometimes.
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  Speaker 7: Yeah, I mean that's something I think companies should be
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  Speaker 7: open to right now. When you see prices to that degree,
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  Speaker 7: it saves you one more day to coming in.
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  Speaker 2: You know, over over a couple.
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  Speaker 7: Of weeks, fifteen twenty bucks you can save in your
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  Speaker 7: pocket that you can use somewhere else.
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  Speaker 4: Well, we appreciate you making the drive here. Hopefully we
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  Speaker 4: could reimburse you for that. Ryan Vittel, thank you so much.
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  Speaker 4: Great to see you always.