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Benzinga
Benzinga
Business
Piero Cingari

June Inflation Data Validates Powell's Trump Pushback

Donald Trump Jerome Powell Inflation Reserve US Federal Reserve Bill Adams Stephen Juneau
On,The,Smartphone,Screen,,Federal,Reserve,(fed),Chair,Jerome,Powell

President Donald Trump's repeated calls for aggressive rate cuts collided with economic reality Tuesday, as June's rising inflation dynamics offered a win—at least temporarily—for Federal Reserve Chair Jerome Powell's cautious stance.

Headline inflation in June accelerated to 2.7% year over year, up from 2.4% in May and the highest reading since February.

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