The U.S. economy experienced inflation acceleration in August, which was largely in line with market expectations, sparking a debate as President Donald Trump declared “No Inflation!!!” on social media. That claim was promptly challenged by economist Justin Wolfers, who asked, “No inflation? Says who?”.
Trump Takes A Jibe At ‘Total Disaster’ Jerome ‘Too Late’ Powell
Trump’s post called for the Federal Reserve to “lower the RATE, BIG, right now,” describing Fed Chair Jerome Powell as “a total disaster”.
In response, Wolfers, a professor at the University of Michigan, pointed to the new data showing a 2.9% annual headline inflation rate and a 3.1% rate for core inflation, which excludes volatile food and energy prices.
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