Inflation data is showing signs of stabilization, with May's consumer price index rising only 2.4% year-over-year, prompting the Trump administration to advocate for interest rate cuts again. Key factors include a surprising drop in core CPI and negligible impacts from tariffs, which have typically stoked inflation concerns. Though Vice President JD Vance criticized the Federal Reserve for not acting on rate cuts, the central bank remains cautious, focusing on hard data. Public sentiment is shifting, with Americans feeling less insecure about rising prices for the first time this year.
"In short, it was a good day for anyone saying inflation is no longer a problem."
"Vance took a page out of his boss's playbook, criticizing the Federal Reserve's inaction as 'monetary malpractice.'"
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