Trump says "I love the inflation" because U.S. is "taking" Iranian oil
Summary
President Donald Trump said he supports the recent rise in inflation because the U.S. is seizing millions of barrels of Iranian oil at night. He claimed this action is causing oil prices to stay high but expects inflation to drop quickly once the conflict ends.Key Facts
- President Trump said he "loves" the inflation increase despite the Consumer Price Index rising to 4.2%, the highest since April 2023.
- He announced the U.S. has been secretly taking millions of barrels of Iranian oil by hitting and disabling ships at night.
- The president said oil prices remain high because of these actions, contributing to inflation.
- Oil price mentioned was about $85 per barrel, with Brent crude at around $94 per barrel.
- Trump also said the U.S. is extracting oil from Venezuela and Iran.
- He predicted inflation will drop sharply after the conflict ends.
- Higher inflation comes as Republicans try to keep control of Congress during a midterm election year.
- Despite formerly strong polling on economic issues, Trump is currently trailing in economic approval ratings.
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