Trump just said there's 'no inflation' in the US. But it's still higher than what the Fed wants.
Trump has argued that inflation is down before. While it's steadily ebbed in recent years, prices are still rising faster than the Fed would like.
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- Trump took to Truth Social Friday morning to again call on the Fed to cut rates.
- Trump claimed there's "no inflation," but prices are still rising.
- Consumer prices rose 2.4% year-over-year in March, per the latest inflation data.
President Donald Trump says there's "no inflation," but the latest data shows the battle against rising prices is still going on, and they're rising faster than the Federal Reserve would like.
In a post on Truth Social on Friday morning, the president pointed to inflation, gas prices, and mortgage rates all being down, and reiterated calls for the Fed to cut interest rates.
"Gasoline just broke $1.98 a Gallon, lowest in years, groceries (and eggs!) down, energy down, mortgage rates down, employment strong, and much more good news, as Billions of Dollars pour in from Tariffs," Trump wrote, emphasizing that the economy was only in a "TRANSITION STAGE" after he rolled out his slate of tariffs last month. "Consumers have been waiting for years to see pricing come down. NO INFLATION, THE FED SHOULD LOWER ITS RATE!!!," he added.
Trump's comments came shortly after the April jobs report, which showed that hiring was better than expected last month. His post nodded to cooling prices, but consumer prices have still been rising, and were up 2.4% year-over-year in March. That's above the Fed's 2% target.
