Trump openly admitted he is not factoring everyday Americans into his decisions, which is bad news for households already hit by rising prices.

• Trump said the financial situation of Americans is not even a small consideration in his choices.
• Coffee is up 19%, vegetables up 12%, and tomatoes up 40%, with the Iran war driving most of the recent inflation jump through higher energy prices.
• About 30% of Americans have canceled vacations as gas prices and broader inflation squeeze budgets.
• Markets are betting the Iran war is nearly over, but if fighting drags on, oil prices and inflation will get much worse.
• Trump keeps mentioning the stock market falling, which suggests he is not planning to end the war soon.

Outlook: If the Iran conflict continues, expect oil, gas, and food prices to climb further and pressure on households to grow.