Trump Reacts to Inflation News With Fresh Demand

President Donald Trump responded to the acceleration of consumer price inflation with a renewal of his demand for the Federal Reserve to cut interest rates immediately.

Inflation rose to 2.7 percent year-on-year in June, the highest reading since February, according to the U.S. Bureau of Labor Statistics. May's annual inflation rate was 2.4 percent.

"Consumer Prices LOW. Bring down the Fed Rate, NOW!!!" Trump posted to his Truth Social platform on Tuesday, July 15, after the data was released.

The acceleration in the CPI reading is bad news for Trump and his allies, who are pushing for a rate cut to stimulate the economy and slash borrowing costs...