Inflation Remarks Stir Controversy
Trump Declares 'I Love Inflation' Amid Surging Prices, Drawing Fierce Democratic Rebuke
President Trump declared "I love the inflation" on June 10 after new data showed the consumer price index jumped to 4.2% annually in May — the highest rate since April 2023, according to Bureau of Labor Statistics. Rather than apologize for rising costs, Trump called the numbers "great" and tied them directly to the ongoing Iran war.
The remarks came during an Oval Office press gaggle, where Trump also claimed a secret military operation had moved 100 million barrels of oil through the Strait of Hormuz — the shipping lane that carries 20% of the world's oil supply — using 22 ships traveling "at night with no lights," The Guardian reported.
Trump's "War President" Spin on Higher Prices
Trump's argument is simple: inflation is a war cost, not a policy failure. "As soon as this war is over... it's going to come down like a rock," he told reporters, according to The Guardian. He pointed to the Iran conflict, which began February 28, as the sole driver of rising prices. Before the war, inflation sat at just 2.4%.
White House spokesperson Kush Desai offered a more careful defense. He acknowledged that real wages — pay after adjusting for inflation — had fallen. But he pointed to drops in specific costs like prescription drugs and new vehicles as signs the administration's policies were working, CBS News reported.
Secret Oil Mission and the Strait of Hormuz Claim
Trump posted on Truth Social that U.S. forces had secretly escorted tankers through the Strait of Hormuz, claiming 100 million barrels of oil had been "taken." Energy Secretary Chris Wright confirmed in a congressional hearing that the military is being used to "increase flows of oil" in the waterway, though he did not verify the 100 million barrel figure, according to Reuters.
Analysts are skeptical of the scale. One hundred million barrels would equal roughly five days of normal pre-war traffic through the Strait. The U.S. had already tried an overt escort mission called "Project Freedom" on May 4, but scrapped it after one day to pursue negotiations, Israel Hayom reported.
Real Wages Fall as Working Families Feel the Squeeze
The 4.2% headline figure masks uneven pain. Core inflation — which strips out food and energy — sits at a lower 2.9%, CBS News noted. But energy costs are a daily reality for most households. Gas prices averaged $4.15 per gallon in May, down from a peak of $4.55 but still $1 higher than a year ago, according to The Guardian.
Chief economist Joseph Brusuelas at RSM warned that real wages dropped 0.7% in May — the second straight monthly decline. He said the squeeze will likely "slow spending in the second half of the year" for middle- and lower-class households, according to RSM.
Democrats Pounce as Midterm Alarm Bells Ring
Senate Democratic Leader Chuck Schumer moved fast. "Trump really said, 'I love the inflation.' On camera," he posted. "His contempt for you knows no bounds," according to Associated Press. Rep. Emilia Sykes pressed Energy Secretary Wright directly during a hearing: "Do you love inflation?" — a line that quickly circulated online.
The political stakes are real. Trump's approval rating on inflation stands at just 22%, and his overall rating has fallen to between 34% and 38% — near a second-term low — according to Forbes. The economy ranks as the top concern for 32% of Americans, with the 2026 midterms now less than five months away.
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