The main driver of increased inflation is the rise in energy costs<\/a>, brought about by Trump\u2019s action against Iran. His war of choice in Iran has slowed the transportation of fuel through the Strait of Hormuz, straining global fuel supplies and raising gas costs.\u00a0<\/a><\/p>\n According to AAA<\/a>, the average cost for a gallon of gas is $4.15 in the U.S. and in some areas is as high as $5.83. A year ago, the average cost was $3.12.<\/p>\n While campaigning for the presidency in 2024, Trump repeatedly blamed inflation on then-President Joe Biden and Vice President Kamala Harris, and said inflation would<\/a> be contained on \u201cDay One\u201d of his presidency. That didn\u2019t happen then\u2014and it still hasn\u2019t.<\/p>\n New survey data released by<\/a> the Federal Reserve Bank of New York on Monday found that Americans are extremely pessimistic about the economy. The number of people who responded to the survey and said their finances were \u201csomewhat worse off\u201d or \u201cmuch worse off\u201d than a year ago was the highest it has been since January 2023.<\/p>\n As that damning economic news was released, Trump inadvertently admitted that the breakthrough in diplomatic talks that he has touted for months with Iran was a fiction.<\/p>\n \u201cIran\u2019s Military is a complete and total mess. Much of it, like their Navy and Air Force, doesn\u2019t even exist anymore \u2013 They have been completely defeated. Iran is all talk and no action. The Bully of the Middle East is DEAD!!!\u201d Trump wrote<\/a> on his social media account. \u201cThey\u2019ve taken too long to negotiate a deal that would have been great for them, now they will have to pay the price!!!\u201d<\/p>\n But on Monday, Trump told reporters<\/a> the U.S. and Iran were \u201cvery close to having a very, very good, strong, powerful deal.\u201d He has promised an imminent peace deal at least 38 times since late March, according to a CNN tally, but despite his angry social media posts, no agreement has materialized.<\/p>\n Even as the administration has claimed there is a \u201cceasefire\u201d between the two nations, hostilities have continued<\/a>, including the firing of missiles and drone warfare.<\/p>\n Trump\u2019s decision to wage war and his ongoing failure to end it have led to loss of life and economic headaches. All the while, he has minimized the problems faced by millions of Americans and even lied and said \u201cwe don\u2019t need oil\u201d during a Cabinet meeting<\/a> in May.<\/p>\n Instead, Trump\u2019s focus has been on staging a UFC fight<\/a> at the White House as well as his corruption-plagued construction projects<\/a> around Washington D.C., including the widely derided operation to repaint the Lincoln Memorial Reflecting Pool.<\/p>\n \tWe’ll get straight to the point: The financial hardships that Daily Kos is facing this year are tough.<\/p>\n We continue to be paywall-free. We continue to be supported by our readers, not billionaires or corporations. But we need to bring in more revenue. We are leaning on our community more than ever to help make ends meet.<\/p>\n \t\tPower matters.<\/p>\n![\"A](\"https:\/\/www.newsbeep.com\/us\/wp-content\/uploads\/2026\/06\/AP26159434486953.jpg\")
APA person stands on shallow water as cargo and commercial vessels are anchored in the Strait of Hormuz near Bandar Abbas, Iran, on June 8.<\/p>\n