P resident Donald Trump responded to the acceleration of consumer price inflation with a renewal of his demand for the Federal Reserve to cut interest rates immediately.

Trump could order the Treasury Department to properly define a "capital gain" as any increase in the value of a stock or property AFTER INFLATION ADJUSTING from the time of the purchase of the asset to the time of the sale. In that case, the real rate of tax on capital gains would fall, and investment would rise. And tax revenues would RISE!

The latest inflation data suggests that President Donald Trump's tariffs may already be having an impact on the finances of working-class families. In a Tuesday article for Axios, journalists Courtenay Brown and Neil Irwin reported on Consumer Price Index (CPI) data from June that was just released this week,

The Bureau of Labor Statistics on Tuesday released June inflation data, showing prices increased from the prior month. Hours later, President Trump called on the Fed to lower rates.

Core inflation — which strips out energy and food prices, which can be volatile categories — was up 2.9% in June. The consumer price index rose 2.7% on an annual basis in June 2025, up from 2.4% in May, according to the Bureau of Labor Statistics.

Consumer prices posted the biggest increase in June in five months and are likely to keep the Federal Reserve from cutting interest rates soon, but there only scattered signs of tariff-related inflation.

Consumer prices rose 2.7% in June from a year earlier, the Labor Department said Tuesday, faster than May’s increase of 2.4%.

President Trump set a 50 day deadline for a ceasefire deal between Russia and Ukraine or else he will hit Russia with "severe" tariffs. Also, the U.S. is sending weapons to Ukraine through NATO. Politico Foreign Affairs Correspondent Eli Stokols and Puck Founding Partner Julia Ioffe join Katy Tur to react to Trump's change in tone on Russian President Putin.