‘It didn’t have to be this way’ — Top economist warns affordability crisis will continue as tariffs and immigration crackdown send inflation higher

This Thanksgiving season is projected to be the busiest in 15 years, with 73 million Americans expected to travel by car and nearly 18 million passing through TSA checkpoints. This surge in travel is influenced by factors such as the recent government shutdown, which has impacted consumer confidence and spending habits.

The U.S. dollar has declined as renewed expectations for a Federal Reserve rate cut have emerged, while the euro has strengthened amid ongoing discussions regarding Ukraine. This shift reflects market reactions to monetary policy signals and geopolitical developments.

Elon Musk's reference to DOGE as 'the chainsaw for bureaucracy' highlights its intended role in promoting efficiency and reducing waste. However, reports indicate that DOGE has quietly ceased to exist ahead of schedule, raising questions about its impact and longevity.

Many six-figure earners are revealing that their apparent financial success masks a reality of sacrifices, including skipped meals and side hustles, as they navigate a precarious economic landscape. This phenomenon highlights the disparity between perceived affluence and actual financial stability.

The cryptocurrency market has experienced a severe downturn, with the Fear and Greed index reflecting extreme fear at a score of 11 out of 100. Bitcoin's value has plummeted approximately 25% in November, marking its worst monthly performance since the 2022 collapse. This significant decline has raised alarms about the stability of Wall Street, as the volatility in crypto markets spills over into traditional financial sectors.

More than half of U.S. homes have experienced a decline in value over the past year, marking a significant shift in the housing market after years of rising prices. This trend indicates a normalization rather than a crash, as most homeowners still retain considerable equity in their properties.

Analysts from Capital Economics have indicated that the upcoming Federal Reserve meeting could result in an unprecedented tie vote on interest rates, with six policymakers favoring a rate cut and six advocating for maintaining the current rates. This division underscores the growing uncertainty within the Fed regarding its monetary policy direction.

Wall Street is experiencing a significant stock market reversal, with Bitcoin's recent downturn being identified as a potential catalyst for investors selling off their stock holdings. The cryptocurrency has seen a sharp decline, contributing to a volatile market environment.