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Trump demands Powell cut interest rate

CBS America · Recent
CBS America
CBS America
Recent

President Trump took to Truth Social Tuesday to once again criticize Federal Reserve Chair Jerome Powell and call for a rate cut after a new Consumer Price Index report showed prices rose less than expected in July. CBS News MoneyWatch correspondent Kelly O'Grady reports.

Breakdown
  • Consumer Price Index rose by 2.7% annually, less than expected. 7s
  • President Trump called for Fed Chair Jerome Powell to lower interest rates. 21s
  • Core inflation, excluding food and energy, increased to 3.1%. 1m 31s
  • Trump nominated E.J. Antony as the new Bureau of Labor Statistics commissioner. 2m 33s
  • Trump signed an executive order delaying higher tariffs on China for 90 days. 3m 39s
PoliticsEconomy