Jay Block, a Senator from New Mexico, has expressed that Americans should focus on consumer confidence and the current administration's policies rather than expert predictions. He cited strong markets and cooling inflation as reasons for this stance. Block made these remarks on X.
"Never trust the biased "experts," said Jay C Block, New Mexico State Senator from 12th District (R). "Trust the American consumer and the policies of this administration that is kicking down the doors of old ways. The American people come first now."
The October 2025 inflation report in the United States emerged during a federal government shutdown, showing prices rising slightly less than anticipated. This prompted a positive reaction in equity markets, as investors interpreted it as a sign that the Federal Reserve might cut interest rates. According to Reuters, the January report indicated a 0.3% monthly increase in the Consumer Price Index (CPI), compared to an expected 0.4%. This, combined with strong corporate earnings, propelled major indices such as the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite to record highs. The rapid market ascent highlights how inflation data remains central to debates over monetary policy and equity valuations.
In September 2025, the U.S. CPI rose by 0.3% month-over-month and 3.0% year-over-year, slightly better than the consensus of 0.4%/3.1%. According to AP News, on that day, the S&P 500 closed at 6,791.69, the Dow at 47,207.12, and the Nasdaq at 23,204.87—all records—following the inflation surprise and robust corporate earnings. This combination of moderate price growth and equity strength indicates current confidence in monetary easing even while inflation remains above target.
From April to late October 2025, U.S. inflation has hovered around a year-over-year rate of approximately 3%, reflecting modest disinflation while the S&P 500 surged to new highs near 6,800 points. Reuters reports that this was triggered by an inflation figure of 0.3% m/m and 3% y/y leading to a record close of 6,791.69 on October 24th. The divergence between elevated prices and soaring equities suggests markets are placing more emphasis on earnings and policy support than immediate inflation resolution.
Jay C. Block is a Republican elected to represent District 12 in the New Mexico State Senate since January 1st, 2025 after winning his campaign in November 2024 elections. Before joining the legislature, he served as Sandoval County Commissioner from 2016 to 2024 and is a retired U.S Air Force lieutenant-colonel with experience in missile launch operations and maintenance.
