US Inflation: Trump Vows To Tackle Inflation Amid Fed’s 50 Bps Rate Cut Odds
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US Inflation debate heats up as Trump criticizes Biden's handling, while Fed mulls potential rate cut in September.
Highlights
Trump criticizes Biden and Kamala Harris on inflation, vows cost reduction if elected.
Fed may cut rates in Sept., eyes CPI for inflation trends
Markets anticipate possible 50-basis-point Fed rate cut next month.
Donald Trump has accused the Biden administration of causing high inflation in the United States and promised to reduce it if he comes back to power. This comes as the Federal Reserve continues to weigh a potential rate cut in September and as escalation remains a key concern for the economy and the upcoming presidential elections.
Trump Vows to Address US Inflation
In his Truth Social platform, the former President of the United States of America, Donald Trump, has complained about the current administration’s management of standards of living in the United States. Trump accused President Joe Biden and Vice President Kamala Harris of not doing anything to stop inflation which is still prevalent.
He promised to reduce the cost of living which he referred to as an “inflation nightmare.” This shows that Trump was keen to make it a key campaign issue as the citizens of America went on struggling with the increasing prices of goods and services.
