00:00It's Benzinga, bringing Wall Street to Main Street.
00:02President Trump expressed enthusiasm for the latest inflation data in remarks from the Oval
00:07Office on Wednesday, saying, I love the inflation, and calling the numbers great, according to CBS
00:13News. The consumer price index rose to an annual rate of 4.2%, up from 3.8% the prior
00:20month and
00:21the highest level since April 2023. Trump credited the spike to a U.S. military operation moving oil
00:27through the Strait of Hormuz, announcing for the first time that the U.S. had escorted over 100
00:32million barrels of oil and 200 commercial ships through the Strait. He predicted that inflation
00:38and oil prices will fall sharply once the conflict ends. Brent crude traded near $94 per barrel on
00:43Wednesday. The U.S. Energy Information Administration now projects retail gas will average $3.64 per
00:50gallon in 2027, up from a January forecast of $2.95. For all things money, visit Benzinga.com.
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