Scott Galloway and Jessica Tarlov open by addressing a warning signal that Washington appears to be ignoring: the 10-year Treasury yield just hit 4.81% — up from 4.20% in January — while the 30-year remains at levels not seen this persistently since 2006. With a $2 trillion deficit, potentially billions in tariff refunds, and a Fed that could raise rates to fight inflation that’s now at 3.4% annually, the economic picture heading into the midterms is… complicated. Are Republicans turning away from these issues in order to keep Trump happy — and how likely is an interest rate hike from Trump’s own Fed chair?
The Trump administration is doubling down on AI data centers — even as about 70% of Americans say they oppose building one in their community. Trump says communities against them “want to be backwards and poor,” while Commerce Secretary Howard Lutnick is calling concerns about their water use propaganda from U.S. adversaries. Scott and Jess break down why this has become such a poli…