Trump says consumer prices are low and Fed should bring down rate

U.S. President Donald Trump said on Tuesday that consumer prices were low and the Federal Reserve should bring down interest rates now.

"Consumer Prices LOW. Bring down the Fed Rate, NOW!!!," Trump wrote on Truth Social.

U.S. consumer prices increased by the most in five months in June amid higher costs for some goods, according to the Consumer Price Index reported by the Labor Department on Tuesday, suggesting tariffs were starting to impact inflation and potentially keeping the Federal Reserve on the sidelines until September.