President Trump’s push for immediate rate cuts met resistance Tuesday as June’s inflation data supported the Federal Reserve’s patient stance, according to Benzinga. The Consumer Price Index rose 2.7% year over year, its highest since February, while core inflation climbed 2.9%, just below estimates. Powell’s decision to resist political pressure and delay rate cuts now appears justified amid ongoing inflation and tariff-related uncertainty. Trump called for immediate rate cuts in June based on headline inflation, but deeper data revealed a more complex economic picture. June’s CPI report showed underlying inflation pressures and confirmed that tariffs are being passed on to consumers, according to economists.
