Trump Pushes for Interest Rate Cuts Amid Inflation Figures

President Trump welcomed the December inflation figures as supportive of his push for Federal Reserve Chair Jerome Powell to cut interest rates, following core CPI numbers that fell below market expectations. Despite the call, consumer prices rose from November, reinforcing the Fed's decision to maintain rates.

President Donald Trump embraced the recently released December inflation figures, suggesting they bolster his campaign for Federal Reserve Chair Jerome Powell to reduce interest rates.

The core Consumer Price Index, closely monitored, showed a year-on-year increase of 2.6%, falling short of market expectations at 2.7%, while overall inflation matched November's rate at 2.7%.

Despite Trump's calls for significant rate cuts, consumer prices rose from November to December, likely reinforcing the Federal Reserve's intent to keep interest rates steady for now. This ongoing clash with Powell over rate reductions continues to create tension within the administration, drawing criticism from notable political figures.

(With inputs from agencies.)