President Trump promised an economic golden age when he returned to office last year.
Instead, voters are in their crankiest mood in years about their financial outlook — and the pessimism is spreading even to Republicans.
Why it matters: The growing GOP gloom could hardly come at a worse time for Trump and the party — less than six months out from a midterm election that's likely to turn on the economy.
Editor's note: The headline and story were corrected and updated throughout to reflect new information and statements related to an alleged theft scheme at gas stations spreading on social media.
As gas prices rise, more attention is being drawn to gas pump scams that allow thieves to continue charging purchases after a driver leaves the station.
The big picture: Gas theft is nothing new, but "these incidents always increase when prices increase," says Jeff Lenard, a spokesman for NACS, the global trade group for convenience stores and fuel retailers.
The Warsh era begins with soaring inflation, a Middle East energy shock bleeding into other parts of the economy and colleagues skeptical that rate cuts should come anytime soon.
Add on top: Kevin Warsh faces more political pressure to deliver lower rates than any other Federal Reserve chair in recent memory.
Why it matters: The 17th Fed chair, sworn in Friday at the White House, inherits a set of economic conditions that make it difficult to justify cutting rates.
Another month, another terrible reading on consumers' attitudes toward the economy — and the data contains a stark warning for the Federal Reserve on Americans' expectations for inflation over the long run.
Driving the news: The University of Michigan's consumer sentiment index fell sharply to a new all-time low in May, at 44.8, from 49.8 in April.
AI backlash is mounting. Executives are getting booed. Workers are threatening strikes, and protests are frustrating data center development — but that doesn't seem to worry investors who are raining money on companies in the business.
Why it matters: AI hate could slow adoption of the technology, posing an underappreciated risk for investors buying into the current frenzy.
A record number of Americans will hit the road over Memorial Day weekend — and they'll pay an average of $1.34 more per gallon at the pump compared to a year ago.
Why it matters: Holiday car trips are proving to be resilient, even as President Trump's war with Iran pushes gas prices sharply higher.
