President Trump suggested that inflation would drop when the U.S. war against Iran ends, and said, "We've been taking out millions of barrels of oil."

President Donald Trump on Wednesday said, “I love the inflation” after being asked if he was concerned about new consumer price index data that showed the annual inflation rate at 4.2%, a three-year high.

  • spaghettiwestern@sh.itjust.worksOP
    361·
    6 hours ago

    Of course he does. Inflation hurts working people and benefits the wealthy:

    Forbes: Inflation is an insidious “hidden tax,” as it directly impacts the purchasing power of families in the United States. However, the burden is unevenly distributed across the different income and wealth strata. In fact, the upper middle class and the top 1% of Americans have actually benefited from high inflationary periods, increasing their wealth, while lower-wage families have been negatively impacted, according to a working paper by economist Edward Nathan Wolff for the National Bureau of Economic Research.

    https://www.forbes.com/sites/jackkelly/2024/04/08/how-inflation-benefits-the-wealthy-and-harms-the-working-class/ (Preview with paywall.)

    It is amazing that magats still worship this guy.