Well, howdy there, Internet people. It fell again.

So today, we're going to talk about Trump's inflation increasing at the fastest pace in years.

Personal consumption expenditures rose at an annual rate of 4.1% last month.

Remember that the number is now more than double

the central bank's target. The PCE is the number the Fed uses to make decisions. Even when

you strip out energy and food and just look at what's called the core PCE, it's a 3.4% annual rate. A White House spokesperson said the report,

quote, reinforces that temporary disruptions to energy markets as a result of the Iranian

conflict are not passing through to non-energy goods.

What do you all think?

Are other prices staying low?

That hasn't been my experience, but maybe it's just my area.

It's also worth noting that Trump repeatedly claimed that inflation was temporary and would end as soon as the war was over.

These numbers are for May. The White House sent a letter to Congress on May 1st, claiming the war with

Iran had ended. Add that to the list of false Trump promises, I guess.

Republicans have now decided to withdraw their demand that the war end and reverse their

votes. Heather Long, who is the chief economist at Navy Federal Credit Union, told the press

quote, inflation is at a three-year high due to the war in Iran, and it's painful for middle class and moderate

income Americans. People are spending more on gas, along with health care and utilities. New Fed

Chair Kevin Warsh has made his commitment clear to bring inflation down. The key will be how much relief happens by September.

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