President Trump Has Crushed Biden’s Inflation Crisis
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President Trump Has Crushed Biden’s Inflation Crisis
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President Trump Has Crushed Biden’s Inflation Crisis
The White House announced a major drop in wholesale inflation, with the Producer Price Index (PPI) coming in at 2.6% year-over-year in August, well below economists’ forecast of 3.3%. Month-to-month, wholesale prices also fell, with energy goods, trade services, and final demand services all declining.
The administration credited President Trump’s tariffs and economic policies for defeating Biden’s inflation crisis, stressing that the feared price hikes never materialized. Instead, small business optimism rose to its highest level since January, signaling confidence in the economy.
Media and economist reactions:
- CNBC’s Rick Santelli called the data “real progress.”
- Mohamed El-Erian (Allianz) argued the Fed should consider larger cuts if it is data-driven.
- Investment analysts described the report as “fantastic news,” noting the absence of tariff-driven inflation.
The White House framed the report as proof that Trump’s “America First” economic agenda is making life more affordable, while renewing calls for Fed Chair Jerome “Too Late” Powell to cut interest rates immediately.