Trump, Inflation
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CNET on MSNWith Trump's Tariffs Linked to Inflation, I'm Tracking 11 Key Products for Price MovesThe deadline for the start of Trump's heaviest tariffs has been delayed a few weeks, but a new report has nonetheless shown that inflation is once again on the rise.
Indonesia also has agreed to purchase billions in U.S. energy, agriculture products and airplanes, Trump said July 15 in a social media post.
The average effective tariff rate has been around 16%, Morgan Stanley Wealth Management calculates, 5 times higher than the past average of 3%.
Inflation rose in June as President Donald Trump’s tariffs began to push up the prices of certain goods, undermining his attempts to pressure Federal Reserve Chair Jerome Powell to lower interest rates.
On "What's Moving Your Money with Spencer Hakimian," Spencer discusses the latest June CPI report showing a continued trend of upwards inflation—and warns that President Trump's tariffs, which haven't even been fully implemented to their full threatened extent,
The economy and the markets are "under surveillance" as we cover the latest in finance, economics and investment.
Consumer inflation likely accelerated in June, as the Trump administration's tariffs start to push up prices. The Labor Department's consumer-price index for last month is due at 8:30 a.m. ET Tuesday.