&imwidth=800&imheight=600&format=webp&quality=medium "Trump calls Fed chief Jerome Powell ‘a total disaster’ after producer prices drops unexpectedly")
US Producer Price Index (PPI) unexpectedly declined in August, according to new data from the Department of Labour, driven by falling energy costs and a dip in trade service margins. The Producer Price Index (PPI) dropped by 0.1% from the previous month, defying forecasts of a 0.3% rise. This marks the first monthly decline since April. On a yearly basis, PPI rose 2.6%, showing a slowdown from July’s annual pace. A significant contributor to the monthly drop was lower service prices, particularly in trade services, the Labor Department noted.
President Donald Trump quickly reacted to the data on his Truth Social platform, declaring “No Inflation!!!” and renewed his push for immediate interest rate cuts. He criticised Federal Reserve Chair Jerome Powell again, calling him “a total disaster” for not acting faster. In a post on Truth Social, the US President said, “Just Out: No Inflation!!! ‘Too Late” must lower the RATE, BIG, right now. Powell is a total disaster, who doesn’t have a clue!!! President DJT
The figures come at a critical time, with the Federal Reserve’s next interest rate decision just a week away. While elevated inflation has previously complicated rate cuts, cooling producer prices and a softening job market have strengthened expectations of a 25-basis-point rate reduction. Excluding volatile categories like food, energy, and trade services, core PPI still showed a 0.3% increase for the month and a 2.8% annual rise—the highest since March.
Carl Weinberg, chief economist at High Frequency Economics, said the report poses “no obstacle” to a rate cut, suggesting that price pressures appear less concerning than previously thought. Economists now await the Consumer Price Index report due Thursday (September 11), which could provide further clarity on inflation trends.
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