Jason Trennert, CEO of Strategas Research Partners, cautioned during an appearance on Breitbart News Saturday about the potential for a “second wave of inflation” in 2025 if former President Donald Trump is not reelected.

In his conversation with host Matthew Boyle, Trennert discussed his “regular man CPI,” an economic tool designed to more accurately measure increases in the consumer price index (CPI). Strategas, a leading macroeconomic and advisory brokerage firm, developed this tool to provide a more realistic assessment of inflation.

Trennert highlighted that the traditional Core CPI often excludes essential expenses like food and energy. He pointed out the absurdity of this exclusion, stating that there’s nothing more ‘core’ than feeding yourself or staying warm, which makes it unreasonable to omit two of the most crucial expenditures for most people.

“We included things that people must spend money on. So, it’s food, energy, shelter, children’s clothing, utilities, and insurance,” Trennert said. “When we look at that measure versus wages, what you find is that the average person’s standard of living has deteriorated meaningfully since Joe Biden took office.”

Boyle observed that despite frequent claims by many Democrats that the economy is thriving, a significant number of Americans feel they are struggling under the Biden-Harris administration.

“You say ‘on paper’ the stock market is quite high, the unemployment rate is relatively low, but, if you look at the consumer sentiment numbers, nobody feels good about it.” Trennert added while also noting that many feel that the country is rapidly approaching a recession.

Trennert criticized the Biden-Harris policies, arguing that they “don’t favor working people” and warning that a future Harris administration would “punish” job creators in the United States.

He further remarked that the Biden-Harris administration is spending money recklessly, even as the Federal Reserve raises interest rates to curb inflation.

When asked about the possibility of serving in a future Trump administration, Trennert expressed that it would be “his greatest honor.” He praised Trump as a “billionaire who understands average people.”

Trennert also cautioned that the country could face a “second wave of inflation” unless Trump is reelected.