The January jobs report has been released, showing unemployment remaining near historic lows. As President Donald Trump takes over, he is inheriting what one noted economist is calling President Joe Biden’s “astonishing” and “beautiful” jobs record and labor market. But beyond employment figures, key benchmarks, such as the prices of essential goods like eggs, coffee, and gas, are drawing attention—leading some to wonder if last year will be remembered as the actual “golden age” for everyday consumers.

“In many respects, Donald Trump inherited the “golden age” he claims to be ushering in. All he really needs to do is not screw it up,” Reuters editor-at-large Mike Dolan wrote two days after Trump’s inauguration. “In economic and financial terms, the United States has rarely been in better health.”

But President Donald Trump’s tariff threats and economic policies, and his promised “mass deportations,” coupled with his efforts to slash the federal government workforce, could come with strong financial and even personal health costs to everyday Americans.

For the month of January, the unemployment rate dropped, from 4.1% to 4%.

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“Except for January 1970, the unemployment rate is lower today than it was in *every single month* of the 1970s, 80s and 90s,” wrote portfolio manager Eddy Elfenbein. Professor of Economics Justin Wolfers, a frequent cable news guest, responded: “This is an astonishing (and beautiful) fact, and we really ought to celebrate it. The labor market is in terrific shape, and continuing to improve. If the economy continues its momentum (a big if, to be sure), the unemployment rate isn’t far from returning to its fifty year low.”

But according to The New York Times, the “fresh numbers suggest that the labor market may be losing momentum heading into the second administration of President Trump, whose policy agenda — including sharp cuts to federal payrolls and large-scale deportations of unauthorized migrants — could affect both employment and the availability of workers.”

During his campaign, President Trump vowed he would “immediately bring prices down, starting on day one.” That has not happened, and there is little to suggest he has made any tangible progress.

“The U.S. Department of Agriculture now says the price of eggs will likely jump by 20 percent in 2025,” Politico reported this week. “An executive order Trump signed in January placed deregulation at the center of his cost-cutting strategy.”

The White House has suggested Trump’s energy policies will also lead to dramatic price drops for families.

“President Trump is already taking bold action to drive down costs with his executive actions to unleash American energy, and he is working diligently with Secretary Brooke Rollins to address the price of eggs,” White House deputy press secretary Anna Kelly told Politico, the news outlet reported.

But the price of eggs is being directly impacted by a massive Bird Flu outbreak across the country, and it does not appear the Trump administration has taken steps to end it. Meanwhile, farmers have had to kill over 148 million birds, including chickens and ducks, to prevent the spread of the disease.

It could get worse.

“The White House is working on an executive order to fire thousands of U.S. Department of Health and Human Services workers, according to people familiar with the matter,” The Wall Street Journal reported in an exclusive on Thursday. “The job cuts under consideration would affect the Department of Health and Human Services, which employs more than 80,000 people and includes the National Institutes of Health and the Centers for Medicare and Medicaid Services, in addition to the FDA and CDC.”

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“The agencies,” WSJ added, “are responsible for a range of functions, from approving new drugs to tracing bird-flu outbreaks and researching cancer. A loss of staff could affect the efforts depending on which workers are cut and whether they are concentrated in particular areas.”

Politico adds, “The White House has in recent days taken drastic steps to reorganize USAID and strip the embattled agency of its autonomy. USAID’s headquarters were closed Monday and Secretary of State Marco Rubio named its acting administrator. Trump doubled down on Tuesday, taking steps to put nearly all of the agency’s Washington-based staff on leave.”

“But shutting down an office that fights diseases worldwide will only mean prices stay high, Democrats argue.”

It appears the international health community is concerned.

“The US has the most cases of bird flu in humans globally,” the Financial Times reports. “Scientists have called for increased vaccination of farm workers and more efforts to stem the spread among farm animals as the H5N1 pathogen continues to infect cattle and chickens across the country.”

“It is arguably grossly irresponsible for the US authorities to allow such sustained high level of virus transmission in dairy cattle as this poses such a major threat to global human health,” Professor James Wood, an infectious diseases expert at the UK’s Cambridge University, told FT.

President Trump’s promise to lower the price of gas “on day one” has also not materialized.

“Amid the threat of tariffs, the national average for a gallon of gas ticked up two cents from last week to $3.13,” according to AAA on Thursday, which tracks gas prices.

In addition to Bird Flu and its impacts, there’s reason to believe food costs will continue to rise.

Bloomberg energy and commodities columnist Javier Blas reported Wednesday that “Wholesale Arabica coffee prices rise above $4 per lb in New York — an all-time high and more than double the level of a year ago.”

Blas says “just the threat” of President Donald Trump’s tariffs on Columbia, the world’s third-largest coffee producer, “is enough to scare the market.”

And he’s predicting a “coffee inflation wave” for this year, and says retail coffee prices “are going to go up between 20% and 25% in the next few months.”

Watch the video below or at this link.

VIDEO COLUMN: Coffee inflation.

I cannot live without my caffeine fix, particularly since my efforts to clone the looks of George Clooney hooked me into the world of capsules.

Sadly, my espresso is going to get expensive in 2025. Very, very expensive.pic.twitter.com/B3vCW6q6Oy

— Javier Blas (@JavierBlas) February 3, 2025

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Three years ago, U.S. Attorney General Merrick Garland created a task force dedicated to enforcing U.S. sanctions imposed on Russian oligarchs in response to Vladimir Putin’s illegal invasion of the sovereign nation of Ukraine.

“To those bolstering the Russian regime through corruption and sanctions evasion: we will deprive you of safe haven and hold you accountable,” Deputy Attorney General Lisa Monaco said as the new task force was announced. “Oligarchs be warned: we will use every tool to freeze and seize your criminal proceeds.”

“We will leave no stone unturned,” Attorney General Garland declared, “in our efforts to investigate, arrest, and prosecute those whose criminal acts enable the Russian government to continue this unjust war. Let me be clear: if you violate our laws, we will hold you accountable.”

Just one day into her new job, President Donald Trump’s newly-sworn-in U.S. Attorney General, Pam Bondi, disbanded that group, known officially as Task Force KleptoCapture. NBC News’ Ken Dilanian and Tom Winter, among others, reported the development.

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In announcing the March 2022 formation of Task Force KleptoCapture, Garland explained that it would be “dedicated to enforcing the sweeping sanctions, export restrictions, and economic countermeasures that the United States has imposed, along with allies and partners, in response to Russia’s unprovoked military invasion of Ukraine.”

“Task Force KleptoCapture will ensure the full effect of these actions, which have been designed to isolate Russia from global markets and impose serious costs for this unjustified act of war, by targeting the crimes of Russian officials, government-aligned elites, and those who aid or conceal their unlawful conduct.”

Vanity Fair’s Bradley Hope, a former Wall Street Journal correspondent, reported that Attorney General Bondi, via email, announced the closure of Task Force KleptoCapture on Wednesday at 7:30 PM, along with the Kleptocracy Initiative.

“The units recovered billions in stolen assets since 2010,” Hope wrote.

“But here’s the real story,” he added. “Sources say a key objective is gaining control of a multi-billion dollar forfeiture fund – money seized from corrupt officials that was meant to be returned to victim countries.”

“Where’s that money headed? Bondi’s memo cryptically mentions ‘other law enforcement purposes.’ Multiple sources say this means funding new detention facilities in Guantanamo Bay and Texas,” Hope reported.

At Project Brazen, Hope’s website, he offers much more detail.

Hope also points to a Bloomberg Law report revealing Bondi “is scaling back enforcement of laws governing foreign lobbying transparency and bribes of foreign officials.”

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Enforcement of the Foreign Corrupt Practices Act and the Foreign Agents Registration Act will be narrower under the Trump administration, which “signals a dramatic retreat from two growth areas of white collar enforcement over the past ten to 15 years.”

“For instance,” Bloomberg noted, “the foreign lobbying policy comes after the department surged FARA enforcement starting under Special Counsel Robert Mueller, leading to prosecutions of prominent political figures in both parties. Bondi became familiar with the law’s requirements when she registered in recent years as a foreign agent while lobbying for the government of Qatar.”

Bloomberg’s report also notes that the KleptoCapture Task Force, “has led efforts to confiscate yachts, planes and real estate from rich Russians sanctioned over the war in Ukraine. The US has sent Russian assets confiscated as a result of the task force’s work to the benefit of Ukraine.”

In reporting that Bondi disbanded Task Force KleptoCapture, The Guardian noted that “Trump has spoken about improving relations with Moscow. He has previously vowed to end the war in Ukraine, though he has not released a detailed plan.”

Attorney Stephen Frank, a former federal prosecutor who worked on Foreign Corrupt Practices Act cases, told The Guardian, “It is a radical move away from traditional FCPA cases and toward a narrow subset of drug and violent crime-related cases that have never been the focus of FCPA enforcement.”

Meanwhile, cybersecurity reporter Eric Geller reported that Bondi also “used her first day on the job to disband the FBI’s Foreign Influence Task Force, which has been a key part of government efforts to stop adversaries from meddling in U.S. democracy.”

READ MORE: ‘Democracy Weeks Away From Disintegrating’: Democratic Senator Issues Warning — and a Plan

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U.S. Senator Maria Cantwell, the Ranking Member of the Committee on Commerce, Science, and Transportation, issued sharp criticism of President Donald Trump’s Director of the so-called Department of Government Efficiency (DOGE), Elon Musk, and cautioned him against “trying to control the airspace.” The Washington Democrat said she would ask the U.S. Department of Transportation to prevent Musk from participating in efforts to reform the Federal Aviation Administration (FAA), while also citing concerns over an alleged conflict of interest.

Speaking to reporters on Thursday (video below), Senator Cantwell announced she was sending a letter expressing her concerns to U.S. Secretary of Transportation Sean Duffy.

“It’s a clear conflict of interest, and Secretary Duffy should make sure that Mr. Musk is not part of the FAA air transportation system,” said Cantwell, who also serves as an ex-officio member of the Subcommittee on Aviation Safety, Operations, and Innovation, and the Subcommittee on Space and Science.

“He has been fined for violations. He worked hard to try to get Mr. Whitaker, somebody who was approved 98 – 0, I think, out of the system, and it is a clear conflict of interest,” she noted. Senator Cantwell was referring to Michael Whitaker, the now-former head of the FAA who “clashed with Trump ally Elon Musk by proposing that his company SpaceX be fined over safety issues,” according to The Independent. The Guardian reported Whitaker had been “forced out” after Musk “called for him to quit.”

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Reuters reported Secretary Duffy “said he spoke to Musk on Tuesday about airspace reform issues and to Musk’s government reform team.”

When she was asked, “how bad of an idea is it to have DOGE involved in FAA,” when their goal is to “cut cut cut and they’re short on controllers?” Cantwell pointed to Congress’s efforts to increase the number of air traffic controllers.

“Congress has spoken, we want 3,000 more air traffic controllers. If President Trump and the administration want to talk to Congress about ways to get even more air traffic controllers because they’ve been working six days a week, we will certainly take that conversation, and if they want to help implement NextGen faster, we will take that, and if he wants to help implement standards for both the military and other commercial airplanes to have this, what is called ADS-B in and out, which gives you more information about who’s in your airspace, we gladly welcome that, too,” Cantwell explained.

On Thursday, Trump “vowed his administration will create a ‘great computerized system’ for air traffic control that, had it been in place, could have prevented the recent midair crash involving a passenger jet and a helicopter that killed 67 people,” Politico reported. “Trump is likely referring to the NextGen program, the FAA’s multiyear effort to move from radar to a satellite-based air traffic control system that has been underway for years. However, it has beset by cost overruns and delays and is expected to be less transformational than originally promised.”

Senator Cantwell drew a line at Musk, she said, “trying to control the airspace.”

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“What we don’t welcome is a man who’s regulated by this sector and who has had fines for violation of safety, which is launch issues related to protecting the flying public, at a time when you need the FAA to call the shots and say, ‘don’t launch now because there could be a conflict in the airspace,’ the last thing I want is that guy trying to control the airspace.”

Professor William J. McGee, a Senior Fellow for Aviation and Travel at the American Economic Liberties Project and an FAA-licensed dispatcher, responded: “Sen. Cantwell is right. There’s no question this is a clear conflict of interest.”

Watch the video below or at this link.

.@SenatorCantwell: “I’m sending a letter to Secretary Duffy. It’s a clear conflict of interest. Secretary Duffy should make sure that Mr. Musk is not part of the FAA air transportation system…The last thing I want is that guy trying to control the airspace.” pic.twitter.com/lNiEyTJ4TH

— CSPAN (@cspan) February 6, 2025

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