P resident Donald Trump responded to the acceleration of consumer price inflation with a renewal of his demand for the Federal Reserve to cut interest rates immediately.

June inflation hit 2.7% as tariffs bite. See why excess liquidity, new Fed pressure, and policy risks could fuel more inflation in the coming months.

A number of factors, including a lack of significant gains in auto prices, are masking the extent of the shift.

The deadline for the start of Trump's heaviest tariffs has been delayed a few weeks, but a new report has nonetheless shown that inflation is once again on the rise.

Indonesia also has agreed to purchase billions in U.S. energy, agriculture products and airplanes, Trump said July 15 in a social media post.

Inflation is up, stocks are down, and more tariffs are on their way. Trump wants interest rates to come down but the direction of travel is making it less likely that the Fed will deliver the cuts he wants. It’s not clear whether Trump can extract himself from the policy cycle he has created.

The tax on inflationary gains is patently unfair, and the president could make the change without going through Congress.

Inflation rose last month to its highest level since February as President Donald Trump’s sweeping tariffs push up the cost of a range of goods, including furniture, clothing, and large appliances.