The Focus Group Podcast S6 Ep13: Just Press The Deflation Button! (with Catherine Rampell)
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Nov 29, 2025 
Catherine Rampell, an economics editor at The Bulwark, breaks down the current state of the economy and the complex dynamics between political promises and real-world inflation. She delves into the challenges Trump faces in delivering on economic relief and explains why outright promises of lower prices are a perilous trap for politicians. The discussion includes insights from focus-group voters who voice their frustrations about high prices and altered holiday spending habits. Rampell emphasizes that while politicians can impact certain economic areas, expectations often exceed reality.
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Reporting Black Friday On The Ground
- Catherine recalled interviewing Black Friday shoppers at Macy's late at night during her New York Times reporting days.
- She remembers many of those shoppers were Brazilian and described it as old-fashioned shoe-leather reporting.
Voters Feel Improvements Are Slow
- Focus group voters expressed frustration that economic improvements feel slower and mostly visible overseas.
- One participant said their job was closing and that people can't afford treatments they bought a year ago.
You Can't Just Make Prices Drop
- Presidents cannot simply make aggregate prices fall; broad deflation occurs only in severe economic collapse.
- Rampell warns Trump promised impossible outcomes like pressing an "inflation button" to lower prices.