US Inflation Edges Up As Trump Renews Criticism Of Fed Chief

The Federal Reserve's preferred inflation gauge rose 2.3 percent in May, but consumer spending pulled back in part due to autos (Credit: AFP)

The US Federal Reserve's preferred inflation measure logged a mild uptick Friday while spending weakened, triggering another tirade by President Donald Trump against the central bank chair for not cutting interest rates sooner.

"We have a guy that's just a stubborn mule and a stupid person," Trump told an event at the White House, referring to Fed Chair Jerome Powell. "He's making a mistake."