President Trump declared, “I love the inflation,” as consumer costs surged in May, directly linked to the Iran war. This shocking statement drew immediate backlash, but Trump insists he was misinterpreted.
In a phone interview, he clarified that he appreciates the inflation rate not being higher, forecasting that the 4.2% annual rate will be the maximum spike associated with the conflict.
“I love the inflation numbers because of what I’m talking about,” Trump stated, emphasizing that despite the war, inflation figures are lower than expected.
He claimed that once the war concludes, inflation rates will drop even further than pre-war levels. “The numbers will be phenomenal,” he asserted.
Trump dismissed criticism from Democrats like Sen. Ed Markey, who accused him of neglecting working-class Americans. “They’re so bad,” he remarked about his detractors.
“I was talking about inflation numbers that will be so good as soon as the war ends,” he continued, reiterating that current inflation is already low and will decrease further.
When asked if 4.2% would be the peak, Trump confidently replied, “I think so. Yeah, I think so.” He contrasted this with former President Joe Biden’s record-high inflation rates.
Under Biden, inflation peaked at 9.1% in June 2022 before cooling to 2.4% in February, just prior to the war escalation.
During the interview, Trump monitored real-time stock market data, noting a slight dip in the Dow Jones Industrial Average.
He promised a significant economic boost once a peace deal with Iran is reached, stating, “you’re gonna see a rocket ship.”
The timeline for ending the Iran war remains uncertain. Trump resumed airstrikes after an Army Apache helicopter was shot down over the Strait of Hormuz but maintains optimism about a swift resolution.
Earlier in the day, Trump downplayed the inflation report showing an increase from 3.8% in April to 4.2% in May. “The numbers were great,” he proclaimed.
“No, I love it. The numbers were great. You know what I really love? I love the inflation, but you know why?” he elaborated on secret oil shipments through the Strait of Hormuz that he claims prevented even higher energy prices.
“Did you know we’ve been taking out millions of barrels of oil? Nobody knows that,” Trump boasted, claiming Iran was unaware of these operations until now.
He detailed a covert operation where “22 ships late at night with no lights” were utilized to transport oil, attributing current oil prices of $85 per barrel to these efforts.
Trump insisted he kept this operation under wraps to avoid disrupting its success but noted that it significantly impacted oil pricing.
The phrase “I love the inflation” sparked widespread ridicule on social media platforms.
Washington Examiner columnist Tim Carney quipped, “Anyone who doesn’t love the inflation is a lib or a RINO now, I guess.”
Critics like former Rep. Justin Amash and Sen. Andy Kim quoted Trump’s words without additional commentary.
Rep. Herb Conaway questioned whether House Republicans supporting Trump shared his enthusiasm for inflation.
Even some Republicans expressed concern that Trump's comments could damage their prospects ahead of the upcoming midterm elections.
A former Trump campaign adviser remarked that such statements are counterproductive and could lead to impeachment discussions in 2027.
A different Republican strategist warned that if voters remain dissatisfied with inflation by November, Trump's remarks would become central to Democratic campaign ads.
GOP strategist John Feehery emphasized urgency, stating that by July 4, Republicans need to resolve issues or risk losing independent voters.
Terry Holt, another Republican strategist, claimed Republicans would face dire consequences if military actions in Iran continue as elections approach.
Some observers shrugged off Trump's comments as typical rhetoric. A national Republican strategist noted that voters have grown accustomed to Trump's unpredictable statements.
Veteran communications expert Ken Farnaso argued that the Iran conflict is a legacy issue for Trump and many Republicans believe his actions have made the world safer.
Trump also asserted that prior to launching Operation Epic Fury against Iran on February 28, the U.S. economy was thriving with record stock market highs and 401(k) values.
“We just hit the highest stock market in history,” he said, recalling discussions with key advisors about taking action against Iran to prevent nuclear armament.
“I get everyone in the room and say, ‘Congratulations, but now I’m going to take it down a little bit, because we cannot let Iran have a nuclear weapon.’”
