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One single Trump decision is the direct cause of your shrinking paycheck
What happened
AlterNet attributes the renewed squeeze on US paychecks to President Donald Trump’s decision to attack Iran at the end of February. The outlet reports that Iran retaliated by blocking oil shipments through the Strait of Hormuz, driving up energy, transportation, and fertilizer costs while wage growth slowed.
According to the article, year-over-year wholesale inflation reached 6.3 percent in September, while wage growth fell from 4.0 percent in 2023 and 2024 to 3.0 percent in the latest data. AlterNet argues that consumer prices are therefore likely to keep rising—not necessarily…
The skinny
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