Inflation today under Trump = 3.4% Inflation September 2022 under Biden = 8.2% Democrats have no plan to make inflation better. No plan to get costs down. Historically, Democrats only make costs higher.

Inflation. Deficits. Wars. Fears of an artificial intelligence bubble. It feels like an unusually long list of reasons for investors to worry. Yet the headlines looked remarkably similar in the 1980s and 1990s, before the most durable equity bull market since the Roaring Twenties. Today, interest rates are hitting higher highs for the first time in more than 40 years, even as equities approach record levels. Official inflation measures remain elevated, but real-time data tell a different story. Oil remains a wildcard. Meanwhile, the cost of artificial intelligence is collapsing. These trends might seem contradictory. We believe they make more sense when viewed through 230 years of market history, not just the last 60. Could falling inflation, accelerating real growth, and disruptive innovation be setting the stage for history to rhyme again? Read @CathieDWood’s Investor Letter.

Inflation remained stubbornly high in August — and economists said consumers are likely to continue to feel the financial pain in coming months as tensions flare in the Middle East, driving up gasoline and other energy costs. The oil supply shock has raised prices for gasoline, diesel, jet fuel and other fuels refined from crude oil. Gasoline prices were up nearly 4% in the month of August and more than 27% from August 2025, according to last week’s CPI report. More details:

Inflation remained stubbornly high in August — and economists said consumers are likely to continue to feel the financial pain in coming months as tensions flare in the Middle East, driving up gasoline and other energy costs. The consumer price index, a measure of inflation, rose 3.4% on an annual basis in August, unchanged from July, according to data issued Friday by the Bureau of Labor Statistics. The CPI report comes as yields on U.S. Treasury bonds have jumped to their highest levels in years, raising borrowing costs for consumers seeking certain types of debt like mortgages and auto loans. More: