Factchecking Trump’s inauguration speech, from inflation to healthcare | Trump administration
Donald Trump repeated false and misleading claims during his inaugural address. Below are the facts regarding some of the false claims presented during President Trump's speech. President Trump insists on “catch and release” Claim: President Trump said he would issue an executive order to end the practice of “catch and release.” What Trump said: First, […]
DeSantis’ chosen Rubio replacement Moody wants to tackle inflation, spending, border: ‘Audit the Fed!’
Florida Attorney General Ashley Moody, who will be sworn into the U.S. Senate, has called for an audit of the Federal Reserve, vowed to vocally oppose government spending, and to strengthen border security and remove individuals who enter the U.S. illegally. He has declared that he will fight. Sen. Marco Rubio (R-Fla.) is set to […]
We Didn’t Get Inflation Spike with First Trump Tariffs, But ’25 Different from ’17
In an interview with Bloomberg that aired Thursday on “Balance of Power,” White House Council of Economic Advisers Chairman Jared Bernstein acknowledged that the first Trump administration did not see a spike in inflation from tariffs. However, he claimed that the situation in 2025 will be significantly different from the situation in 2017. Bernstein said: […]
Fed may cut rates sooner and faster than expected if inflation keeps cooling
Federal Reserve President Christopher Waller said Thursday that inflation is likely to continue easing and that the central bank could cut interest rates sooner than expected, adding that the Fed's interest rate cuts will be shallower. He made comments that go against recent market movements that he expects to occur. Waller said on CNBC that […]
I Ignored Summers’ Inflation Warnings ‘to Instill Some Confidence’ in People, Deal with COVID
In an interview with MSNBC that aired during Thursday's broadcast of “The Last Word,” President Joe Biden said that despite warnings from people like Harvard professor Larry Summers that it would cause inflation. He said he decided to proceed with a large-scale economic stimulus package “because we considered realistic policies.” We need to instill some […]
Biden defends inflation policies, says ‘red states really screwed up’ their economies in final interview
President Biden defended his administration by claiming that inflation was falling and that “red states” were messing up their economies. Biden sat down with MSNBC host Lawrence O'Donnell for his final interview in office before officially leaving office on Monday. The two discussed a number of topics, including Biden's response to the economy and the […]
Demand Helped Cause Inflation, But Price Pressure from Stimulus Was Worth Growth
In an interview with Bloomberg that aired Thursday on “Balance of Power,” White House Council of Economic Advisers Chairman Jared Bernstein said “strong demand” helped drive inflation, adding that the coronavirus Inflation rates were about the same in all G7 countries, although he conceded that the upward pressure on prices from virus stimulus was worth […]
Biden’s Parting Gift: Inflation Accelerated In December
U.S. consumer prices rose at a faster pace in December, capping the final year of the inflation-plagued Biden administration and suggesting the Federal Reserve's efforts to rein in inflation may be running out of steam. The consumer price index rose 0.4% from November, bringing the annual inflation rate to 2.9%, according to the Labor Department. […]
Energy and food prices drove inflation in December
RBC Chief Economist Frances Donald explains how inflation affects the average household in Making Money. Inflation rose in December to its highest level since July, with much of the rise due to higher energy and food prices. The Department of Labor released December's Consumer Price Index (CPI), a broad measure of the prices of daily […]
December Inflation clouds Fed’s outlook on interest rate cuts
Gasoline prices were the main contributor to the rise in inflation in December. (iStock) According to the Consumer Price Index (CPI), the annual inflation rate rose to 2.9% in December, slightly higher than the previous month's annual inflation rate of 2.7%. Published by the Bureau of Labor Statistics (BLS). The inflation rate in December rose […]