Trump says “I love the inflation” because U.S. is “taking out” Iranian oil
President Trump recently made headlines by applauding the latest inflation spike, calling the numbers “great” and expressing his love for inflation. The president attributed the increase in inflation to the U.S. taking out millions of barrels of Iranian oil through the Strait of Hormuz. He confidently stated that once the conflict is resolved, oil prices and inflation will drop rapidly.
During a press conference in the Oval Office, a reporter raised concerns about the Consumer Price Index rising at an annual rate of 4.2%, the highest level since April 2023. However, President Trump dismissed these concerns, stating that he loves the inflation spike. He revealed that the U.S. has been secretly removing millions of barrels of oil, leading to the current high oil prices.
Despite the recent decrease in oil prices, the cost of Brent crude was still around $94 per barrel. President Trump mentioned that he expected oil prices to be even higher and highlighted the record highs in the stock market. He also shared on Truth Social that the military had executed a secret mission to support oil tankers and commercial ships through the Strait of Hormuz, resulting in over 100 million barrels of oil entering the market.
The president emphasized that the United States controls the Strait of Hormuz, not Iran, and declared that Iran’s military has been defeated. He credited the success of the mission to the U.S. and claimed that it was over for Iran. President Trump expressed confidence that Iran would want to make a deal in the future.
When asked about the impact of the war on inflation, President Trump reassured that inflation would decrease significantly once the conflict is over. He reiterated the U.S.’s extraction of millions of barrels of oil every night and expressed optimism about the future economic improvements.
However, despite the president’s positive outlook on inflation and gas prices, government predictions differ. The U.S. Energy Information Administration estimates that gas prices will average $3.64 per gallon in 2027, contradicting President Trump’s belief that gas prices will return to pre-war levels.
President Trump’s approval ratings on the economy have been declining, with inflation becoming a major concern in a midterm election year. Democrats have criticized the president’s stance on inflation, with Senate Minority Leader Chuck Schumer and House Minority Whip Katherine Clark condemning his remarks.
House Speaker Mike Johnson defended President Trump, stating that his comments were taken out of context and that he was referring to future economic improvements. The debate over inflation and its implications for the economy continues to be a topic of discussion in the political landscape.
