At this pace, tariffs will raise an additional $230 billion in corporate taxes a year. US nonfinancial corporate profits spiked to $3 trillion a year.| Wolf Street
Food prices also spiked. Energy prices surged due to diesel, jet fuel, and industrial electric power. Ugly all around.| Wolf Street
The 6-month PCE price index accelerated to 2.8% annualized, despite dropping energy prices. It’s been 2.7% to 3.3% in 2025, sharply higher than in the 2nd half of 2024.| Wolf Street
Businesses have been paying them out of their huge profits and have not been able to pass them on to consumers so far.| Wolf Street