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June Inflation Data Validates Powell's Trump Pushback

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President Trump鈥檚 push for immediate rate cuts met resistance Tuesday as June鈥檚 inflation data supported the Federal Reserve鈥檚 patient stance, according to Benzinga. The Consumer Price Index rose 2.7% year over year, its highest since February, while core inflation climbed 2.9%, just below estimates. Powell鈥檚 decision to resist political pressure and delay rate cuts now appears justified amid ongoing inflation and tariff-related uncertainty. Trump called for immediate rate cuts in June based on headline inflation, but deeper data revealed a more complex economic picture. June鈥檚 CPI report showed underlying inflation pressures and confirmed that tariffs are being passed on to consumers, according to economists.

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