The White House cheered a fall in prices in February as President Donald Trump fends off growing attention over his handling of the business.
The latest consumer price index, released in a new report Wednesday, showed annual inflation dropping from 3 % in January to 2.8 % in February, while core inflation, which factors out food and energy prices, was recorded at 3.1 %. Both measures registered a 10th of a percent place below projections.
” As he properly did in his first name, President Trump is driving down prices through large deregulation and power dominance”, Leavitt continued. ” The whole Trump Administration may continue to focus on fixing the financial and inflation problem created by the Biden-Harris Administration to access the Golden Age of America”.
Though prices also tracks above the Federal Reserve’s 2 % target price, Wednesday’s report does give the Trump presidency a moment of relief. Trump has stoked fears of a crisis over his extreme trade war, while the aquatic flu has driven days of articles over the high cost of egg.
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Earlier this month, the Atlanta Federal Reserve’s GDPNow monitor forecast a 2.4 % economic contraction in the first third of this year.
The Fed will meet next week to determine whether to cut interest rates as top Trump administration leaders have requested.
