President Trump’s “clamoring for the Federal Reserve to lower interest rates” may finally pay off later this year when Kevin Warsh takes over as the new Fed chair.
Trump “shouldn’t have to wait that long,” however, because his appeal to the Fed has been “on the grounds that inflation is much lower than what’s being officially reported,” explains E.J. Antoni, Ph.D., The Heritage Foundation’s chief economist.
“ It turns out Trump is spot on with today's real inflation rate being only one-third the official metrics. In fact, these numbers come from the real-time price aggregator Truflation which monitors millions of prices every single day. That is orders of magnitude more than the Bureau of Labor Statistics, or BLS, which only observes a few thousand prices just three times per month.”
(00:00) Trump's Push for Lower Interest Rates
(01:49) Understanding Real Inflation Rates
(03:40) Comparing Truflation and CPI
(06:26) Housing Costs and Inflation Metrics
(09:02) The Impact of Lower Interest Rates
(09:38) Conclusion and Next Steps
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