Trump hails inflation data, renews Fed pressure

AWANI

December inflation figures came in slightly below expectations, prompting Trump to push harder for Fed rate cuts while criticizing Jerome Powell amid a criminal probe.

Transcript

00:00Trump welcomed December inflation figures released on Tuesday,

00:05saying they supported his push for Federal Reserve Chair Jerome Powell to cut interest rates.

00:10The closely watched core CPI year-on-year figure came in at 2.6%,

00:15less than the 2.7% market head aspected.

00:20The overall annual inflation rate was 2.7%, matching November's gain.

00:26Consumer prices increased in December from November,

00:29cementing expectations the Federal Reserve would leave interest rates unchanged this month.

00:35Trump has clashed repeatedly with Powell over the president's demand-de-fed cut rates.

00:57The administration's decision to open a criminal investigation into Powell

01:01drew condemnation from former Fed chiefs and chorus of criticism

01:05from key members of Trump's Republican Party on Monday.

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