This week: A new inflation report shows consumer prices rose 3.8% over the past year, the highest rate since May 2023, with grocery prices posting their largest monthly increase since August 2022. The Federal Reserve cut rates three times last year, but mortgage rates have barely moved, and we explain why. President Trump traveled to Beijing this week for a state visit with President Xi, and we look at how trade policy between the two countries can affect consumer prices. And there is a growing debate over whether to suspend the federal gas tax, so we break down what it is, what it funds, and whether it would actually help at the pump.
Sources referenced in this episode:
AAA — https://gasprices.aaa.com/
Bipartisan Policy Center — https://bipartisanpolicy.org/explainer/the-hidden-cost-of-a-gas-tax-holiday/
BLS (CPI report) — https://www.bls.gov/news.release/cpi.nr0.htm
BLS (full report PDF) — https://www.bls.gov/news.release/pdf/cpi.pdf
CNBC (CPI analysis) — https://www.cnbc.com/2026/05/12/cpi-inflation-april-2026-.html
CNBC (gas tax) — https://www.cnbc.com/2026/05/12/trump-gas-tax-suspension.html
CNN (gas tax) — https://www.cnn.com/2026/05/11/business/federal-gas-tax-suspension-trump
CRS/CBO (Highway Trust Fund) — https://www.congress.gov/crs-product/R48472
Freddie Mac — https://www.freddiemac.com/pmms
NPR — https://www.npr.org/2026/05/12/nx-s1-5818529/trump-china-iran-war
EIA (state gas taxes) — https://www.eia.gov/todayinenergy/detail.php?id=67165
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What is The Wealth Recap?
Your week in markets and money. The Wealth Recap covers major financial stories of the week and explores what they may mean for everyday financial life. From gas prices and job reports to market performance and interest rates, each episode is designed to help listeners build financial awareness and understanding. AI-assisted in drafting, with all content reviewed for accuracy and compliance by Buckley Wealth, an SEC-registered investment adviser. This podcast is for educational and informational purposes only and does not constitute personalized financial advice. Listeners should consult their own financial advisor before making investment decisions. New episodes every Wednesday. For more information, visit buckleywealth.com.