United States of America

US Inflation Hits 4.1%

Is Trump's economy broken by inflation and war or are strong jobs and growth proof that the fundamentals still hold?

Published 2 hours ago

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Above: Workers assist customers in check-out lines at a grocery store in Philadelphia, Penn., on Jan. 23. Image credit: Joe Lamberti/Bloomberg/Getty Images

The Spin

Anti-Trump narrative

Inflation hitting 4.1% is a self-inflicted wound — Trump's Iran war and tariff agenda drove prices up, and wage growth isn't keeping pace. Core inflation just hit a fresh high since 2023, and the Fed is stuck debating rate hikes instead of cutting. After winning on affordability, Trump has broken his biggest promise to American workers.

Spectator (UK)The New York Times

Pro-Trump narrative

The U.S. economy added 172,000 jobs in May, beating expectations, and Treasury Secretary Scott Bessent says 3% growth is still within reach as the Iran conflict winds down. The underlying economy was running at roughly 4% growth before the war disrupted things. Strong hiring and a resilient labor market prove the fundamentals are solid.

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