Former Treasury Secretary Lawrence Summers warned that President Donald Trump’s bid to assert control over the Federal Reserve and drive down interest rates could trigger a surge in inflation expectations that pushes up long-term borrowing costs.

Donald Trump gaggled with the press during a multilateral lunch with African leaders at the White House on July 9, 2025. Trump spewed lie after lie about the apparent success of his economy, claiming that he brought costs "way down" and that the administration has inflation "totally under control.

Egg prices cooled significantly in June, deviating from an overall rise in prices. The price of eggs climbed 27% over the year ending in June, which marked a slowdown from 41% year-over-year growth in May. Under Trump, inflation has defied doomsday predictions and helped to propel sturdy economic performance.

U.S. equity funds again came under selling pressure through the week to July 16, dampened by worries over President Donald Trump's tariff rhetoric and the buildup in inflationary pressure, potentially keeping the Federal Reserve cautious about a premature rate cut.

During a multilateral lunch event with African leaders at the White House last week, Donald Trump peddled lies about his nonsensical tariffs. A disingenuous reporter praised Donald Trump for correctly assessing that he was right about his tariffs lowering inflation.

"I certainly think there are lessons to be learned there that the administration should be aware of," said Morningstar Wealth's Dominic Pappalardo.

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.

President Donald Trump swept into office in January with a promise to tackle what he called the "inflation crisis" that had kicked off under his predecessor.