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.

Gary Cohn, IBM vice chairman and former National Economic Council Director under President Trump, joins 'Squawk Box' to discuss the state of the economy, June's CPI data, President Trump's tariff agenda,

Indonesia also has agreed to purchase billions in U.S. energy, agriculture products and airplanes, Trump said July 15 in a social media post.

Inflation is up, stocks are down, and more tariffs are on their way. Trump wants interest rates to come down but the direction of travel is making it less likely that the Fed will deliver the cuts he wants. It’s not clear whether Trump can extract himself from the policy cycle he has created.

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,

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.