June Inflation Data Validates Powell's Trump Pushback
President Trump’s push for immediate rate cuts met resistance Tuesday as June’s inflation data supported the Federal Reserve’s patient stance, according to Benzinga. The Consumer Price Index rose 2.7% year over year, its highest since February, while core inflation climbed 2.9%, just below estimates. Powell’s decision to resist political pressure and delay rate cuts now appears justified amid ongoing inflation and tariff-related uncertainty. Trump called for immediate rate cuts in June based on headline inflation, but deeper data revealed a more complex economic picture. June’s CPI report showed underlying inflation pressures and confirmed that tariffs are being passed on to consumers, according to economists.
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'Buy now, pay later' borrowing is part of the problem
