• Inflation rose more than expected in January according to federal data released Wednesday, as the cost of things like groceries, housing and energy ticked up. While we’re still only a few weeks into Donald Trump’s second term, he did campaign on lowering prices for consumers on ‘Day 1,’ a promise he and his team have been backing away from since his election victory. The new inflation data raises big questions about the state of the economy and the potential effects of Trump’s policy plans to cut taxes, impose tariffs and slash the federal workforce. Victoria Guida, economics correspondent for Politico, helps us make sense of what’s actually going on with the economy right now and what it all means for Trump.
• Later in the show, Crooked Media’s climate correspondent Anya Zoledziowski talks about what’s happening at the Environmental Protection Agency.
• And in headlines: Tulsi Gabbard is confirmed by the Senate and sworn in as the new director of national intelligence, Trump and Russian President Vladimir Putin discussed ways to end Russia’s invasion of Ukraine over the phone (not on the call: Ukraine), and Georgia Republican Rep. Marjorie Taylor Green presided over the first meeting of the House DOGE Subcommittee.

• Check out Victoria’s work – politico.com/staff/victoria-guida
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