US EditionUS inflation edges up as Trump renews criticism of Fed chief
- From April to May, the inflation gauge measuring consumer spending prices increased by 0.1 percent, even as consumer expenditures weakened under the influence of tariffs implemented by the Trump administration.
- Since January, Trump has imposed broad tariffs on steel, aluminum, and autos, prompting central bank officials to delay interest rate cuts and assess economic effects.
- Economist Michael Pearce highlighted a noticeable decline in spending on non-essential services, particularly in travel and hospitality, which mirrors a drop in consumer confidence and expenditure.
- The PCE price index excluding food and energy rose 2.7 percent with a mild overall inflation uptick, while Trump called Fed Chair Powell "a stubborn mule and a stupid person."
- Pearce said inflation risks could keep the Federal Reserve’s interest rates on hold until later this year as Powell’s term ends and Trump signals a successor favoring rate cuts.
62 Articles
62 Articles
U.S. inflation edges up as Trump renews criticism of Fed chief
The U.S. Federal Reserve's preferred inflation measure logged a mild uptick Friday while spending weakened, triggering another tirade by President Donald Trump against the central bank chair for not cutting interest rates sooner. "We have a guy that's just a stubborn mule and a stupid person," Trump told an event…
InsideNoVA.com
US inflation edges up as Trump renews criticism of Fed chief
The US Federal Reserve's preferred inflation measure logged a mild uptick Friday while spending weakened, triggering another tirade by President Donald Trump against the central bank chair for not cutting interest rates sooner.
Inflation rebounded slightly last month in the United States according to an official index published Friday, a result that does not cause President Donald Trump to stumble: he wants the central bank to lower its rates.
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