MS Now's Stephanie Ruhle & Molly Jong-Fast break down newly released inflation data and argue that the U.S. remains stuck in a stubbornly inflationary environment, complicating pressure on the Federal Reserve to cut interest rates. They connect rising costs to broader forces like tariffs, immigration policy, and geopolitical conflict—especially disruption tied to Iran and energy markets—while noting that strong stock performance is being driven mainly by a small group of major AI-focused tech firms rather than the wider economy. The conversation also examines how economic strain is hitting Americans unevenly, why businesses face heightened uncertainty when planning investments, and how concerns about corruption and self-dealing—illustrated through high-profile donations, stock activity, and government contracts—could become a major political flashpoint heading into the midterms, alongside calls for clearer plans to address affordability and accountability. Subscribe to Fast Politics and listen 4x a week for interviews just like this on your favorite podcast app: https://episodes.fm/1645614328