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Investing.com -- U.S. President Donald Trump called for "meaningful" interest rate cuts on Tuesday after new inflation data showed consumer prices remained stable in December.
In a post on his Truth Social platform, Trump called the latest CPI numbers "Great (LOW!)" and urged Federal Reserve Chair Jerome Powell to reduce rates, once again referring to him as "Jerome ’Too Late’ Powell" and suggesting the Fed chief would be "TOO LATE" if he doesn’t act.
The Labor Department reported that U.S. headline inflation held steady at 2.7% year-over-year in December, matching November’s rate and aligning with economists’ expectations. On a month-to-month basis, consumer prices increased 0.3%, also matching the previous month’s figure.
Core inflation, which excludes volatile food and energy prices, registered at 2.6% annually and 0.2% monthly in December. These figures were unchanged from November and came in slightly below what economists had forecast.
Trump celebrated what he called "GREAT GROWTH NUMBERS" in his social media post, attributing positive economic developments to his tariff policies, referring to himself as "MISTER TARIFF!"
