Trump Embraces Inflation After May CPI Jump, Raising Fed Stakes
Trump said 'I love the inflation' after May CPI rose 4.2%, drawing criticism and focusing attention on Fed Chair Kevin Warsh ahead of his June 17 press conference.
CNBCCNBC Daily Open: Trump expresses 'love' for inflation print and anger at Iran
Raw StoryTrump's new inflation remarks leave political analysts aghast
BBC NewsTrump says he 'loves the inflation' as prices rise at fastest rate in three years
NBC NewsTrump says ‘I love the inflation’ as annual rate jumps to a 3-year high
Overview
President Donald Trump said "I love the inflation" after the Bureau of Labor Statistics reported U.S. consumer prices rose 4.2% in May, the fastest annual pace in three years.
The May increase was driven by rising energy costs tied to the Iran war that began Feb. 28 and disruptions around the Strait of Hormuz, officials and analysts said.
Senate Democratic Leader Chuck Schumer and Sen. Elizabeth Warren criticized Trump's remark, and Trump later said his words were taken out of context.
Financial markets reacted sharply, with the Dow shedding more than 900 points and U.S. crude for July rising to $92.68 per barrel.
Fed Chair Kevin Warsh will hold his first press conference on June 17 as he faces upcoming interest-rate decisions and debate over whether to hold rates at 3.5% to 3.75%.
Analysis
Center-leaning sources frame the story skeptically, emphasizing incredulity and political backlash. Language like “surprising take” and “I love the inflation” is highlighted; critics’ quips from Schumer and Jeffries are foregrounded, the lack of data for Trump’s 100 million-barrel claim is noted, and market reactions (oil futures rising) undercut his narrative.