Trump Praises Cooling Inflation
(MENAFN) U.S. Leader Donald Trump celebrated the newly released inflation figures, which came in below what analysts had predicted, and once again appealed to the Federal Reserve to significantly reduce interest rates in an effort to ease borrowing expenses.
In a post on social media, Trump enthusiastically proclaimed, "CPI JUST OUT. GREAT NUMBERS!" He followed up with a forceful recommendation: "FED SHOULD LOWER, ONE FULL POINT. WOULD PAY MUCH LESS INTEREST ON DEBT COMING DUE. SO IMPORTANT!!!"
According to the Bureau of Labor Statistics, the year-over-year inflation rate in the U.S. stood at 2.4 percent in May, slightly under the anticipated 2.5 percent.
On a monthly basis, consumer prices edged up by 0.1 percent, falling short of the 0.2 percent projection by economists.
The bureau highlighted that "The index for shelter rose 0.3 percent in May and was the primary factor in the all items monthly increase."
It also noted, "The food index increased 0.3 percent as both of its major components, the index for food at home and the index for food away from home also rose 0.3 percent in May."
In contrast, the energy category experienced a decline of 1 percent in May, attributed to a drop in the gasoline index during the same period.
Throughout his presidency, Trump has persistently pushed Federal Reserve Chair Jerome Powell to lower interest rates, at times labeling him "Too Late," "a fool," and "a major loser" for his cautious stance.
Although Trump once suggested he was contemplating dismissing Powell before the end of his term, he later clarified that he had "no intention" of taking such action.
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