US Inflation Rises: New Trump Attack Against Fed

US inflation recorded a slight increase, while spending decreased. This triggered a new attack from President Donald Trump against Fed Chairman Jerome Powell regarding interest rate management.

Donald Trump called Jerome Powell a "stubborn mule and a stupid man." He stated that he would appoint someone who wants to lower interest rates when Powell's term expires.

The personal consumption expenditures price index rose by 2.3% in May 2024, a slight increase from 2.2% in April.

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