Aaron Blake: “What we can say right now is that President Donald Trump’s handling of inflation is a historic liability — the likes of which we’ve rarely seen in modern American politics.”

“As many as 8 in 10 Americans now disapprove of Trump on that issue. That’s more than disapproved of presidents for wars gone wrong, botched crisis responses and even major scandals like Watergate.”

“A new AP-NORC poll on Thursday was the latest ugly data point for Trump. It showed Americans disapproved of him on cost-of-living issues by a stunning margin: 82% to 17%.”

“It’s rare to get even 70% of Americans to agree on anything political. But Trump has managed to unite 8 in 10 Americans against his handling of one of the country’s most important issues.”

“President Trump on Monday is set to announce that the largest steel plant in U.S. history will be built in Iowa over the coming years, a White House official said,” CBS News reports.

“The president and the Minnesota-based company Mesabi Metallics are expected to unveil the company’s $15 billion plans in the Oval Office at 2 p.m. for what the White House is calling a mega steel plant. Once it’s up and running in 2030, the plant is expected to produce 7.5 million or more tons of steel per year. A White House official said the plant is expected to create 1,750 permanent jobs in Iowa.”

Wall Street Journal: Trump will announce a Minnesota company’s plan to build a $15 billion steel mill in Iowa.

“In the early days of President Trump’s second term, his economic advisers laid out a simple theory: Show the bond market that Washington was serious about closing its gaping deficits, and long-term interest rates would fall on their own. Trump could leave the Federal Reserve alone,” the Wall Street Journal reports.

“It hasn’t worked out that way.”

“Inflation is rising, the Fed is raising rates and the 10-year Treasury yield is well above where it stood on Inauguration Day, when the new team blamed high rates on runaway Biden-era spending. Last week, that yield reached the highest level since 2007 as investors weighed a resilient economy, prolonged energy disruptions that threaten to aggravate price pressures and a central bank losing patience waiting for them to fade.”

“Not everyone thinks there’s an affordability crisis,” Politico reports.

”While many Americans say the cost of living is the top issue facing the U.S. more than any other, President Donald Trump’s MAGA base does not always agree, according to a new analysis of The Politico Poll. Just 28 percent of voters who self-identify as part of the MAGA movement say expenses have become less affordable since Trump took office.”

“In fact, MAGA voters are more likely to say things have gotten better rather than worse.”