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.
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.
Trump’s comments are in sync with current discussions within the Federal Reserve on the most effective approach to the economy. Susan Collins, the president of the Boston Fed, has also hinted that there could be a rate cut as per a Coingape report.
Collins had earlier explained that the Fed is focusing on the CPI figures, which are due to be released next week. As per the report, the data is anticipated to rise slightly from June, but the overall trend will point towards a decrease.
