Thread 1454939

https://www.nbcnews.com/business/economy/trump-inflation-treasury-tariffs-rcna241696
The Treasury Department said Monday that inflation "remained above the target of 2 percent in the third quarter," even as President Donald Trump and administration officials continue to assert that there is "no inflation."

Speaking on CBS News "60 Minutes" on Sunday, Trump said, "We have no inflation, we have no inflation."

Trump claimed that he had "already taken care of" inflation, calling 2% "the perfect inflation."

But inflation came in at 3% on an annual basis in September, according to the Bureau of Labor Statistics.

"Food prices for both groceries (food at home) and food services (food away from home) increased moderately in the third quarter," Treasury said in a new "Economy Statement."

The statement released Monday is a regular economic update prepared for the Treasury’s Borrowing Advisory Committee.

The committee consists of nonpartisan bond market executives from firms such as Citigroup, Pimco, JPMorgan and BlackRock, and provides input to the Treasury on government debt and financing issues.

A White House spokesperson did not immediately reply to a request for comment on the Treasury statement.

One of the major drivers of food inflation was record beef prices, due in part to lower herd counts.

"We're gonna get the beef price down very quickly. It'll be very nice, just like eggs," Trump said Sunday on CBS.

Overall, the Treasury Department said that "economic growth solidified in the third quarter with steady business investment and consumer demand."

The third quarter is considered the three-month period from July 1 to Sept. 30.

CEOs of retail and food companies have noted that while consumer spending overall continues at a decent pace, lower-income consumers are faring much worse than middle and upper income Americans.

“Traffic for lower-income consumers is down double digits,” McDonald's CEO Chris Kempczinski told CNBC in September. “We needed to step in.”

Coca-Cola’s chief operating officer, Henrique Braun, said the company also saw “divergency in spending between the income groups” last quarter.

Wages for the average worker only slightly outpace inflation. As of August, median pay increased at a 4.1% rate, compared with inflation, which is pacing at 3.0% on an annual basis.

Inflation has risen every month since April, when it was recorded at 2.3%.

On the topic of the labor market, which many economists and analysts view as rapidly weakening, the Treasury said it sees the market for job seekers as "relatively steady" although "monthly job growth moderated slightly, while the average unemployment rate ticked up only slightly."

Employment growth "is below the roughly 100,000 jobs added per month in the first quarter of 2025," Treasury said. This "likely reflects the drop in population growth related to the forced and self-deportation of illegal immigrants."

It further added that, "although employment growth slowed in the second and third quarters of 2025, data do not indicate the slower growth is a result of soft GDP growth or weakening aggregate demand."

GDP, the primary measure of the country's economic output, rose 3.8% in the second quarter. Third-quarter GDP data was set to be released on Oct. 30, but has been delayed by the government shutdown.

There also have been no official jobs reports since September due to the shutdown. Private payroll processor ADP said on Oct. 1 that private companies had shed 32,000 jobs in September.

The delayed October jobs report could show another contraction.

"Excluding the shutdown, declining government employment may create a headwind for labor markets in the fourth quarter of 2025," the Treasury said.

It noted that "the employment report for October could show a decline in total payroll employment" due to the departure of federal employees who opted for deferred resignations earlier this year.

Artificial intelligence could also play a role in the changing labor market dynamics.

"Artificial intelligence also could have disruptive impacts on the economy and labor markets as businesses and individuals integrate it or fail to," the Treasury said. "Firms that are slow to adapt to the technology could find themselves at a competitive disadvantage."

"Looking ahead to the next few quarters, the outlook for the U.S. economy faces upside and downside risks," the report concluded. The Treasury said it would be "monitoring private-sector labor market developments closely" and said the administration would pursue "supply-side policies, deregulation, and other reforms" that it says will "protect the American consumer."

>Parallel Prosperity
So this is the new "trickle down economics" rebrand, huh?

>>1454942
We're beyond spins like trickle down and have moved onto "There's no inflation. Everything is cheaper. You're crazy if you believe otherwise."

>>1454948
The fact they're just lying directly to people faces and then firing all the people who's job it is to report the facts is pretty damning.

It's like during the beginning of the Trump Virus Pandemic when trump was gaslighting everyone claiming the Trump Virus was a nothing burger because he was desperate to keep the economy pumped up for the election, and it got a million American kills.

>>1454956
What is a few million American lives weighed against a .03% return? Less than 5 cents a life, considered an excellent business decision. Capitalism rocks! Suck it commie dogs! Mao killed less people than capitalism, capitalism just squeezes people slower, still deadly though.

>>1454956
>It's like during the beginning of the Trump Virus Pandemic when trump was gaslighting everyone claiming the Trump Virus was a nothing burger because he was desperate to keep the economy pumped up for the election, and it got a million American kills.
With zero political consequences cause the party just became a delusional death cult to support him and so many people got COVID fried brain that you'll regularly see people thinking Biden was president in 2020 and used COVID to do a fascism.

Pretty soon we're gonna be in one of those dystopias where folks are living in squalor and acting like they're aristocrats cause they're all out of their fucking mind. Minus the cool drugs or magic powers but with all the firearm violence.

>>1455140
>Pretty soon we're gonna be in one of those dystopias...
We've been there since the Mexicans and Indians started arriving back in the aughts, Anon. The nation is growing increasingly brown, illiterate, violent and criminal, as well as increasingly unwilling to discuss the reasons why.

From here we keep going downhill until we reach the jackboots and armbands phase, have a big war, kill everybody and then marvel at how much better anarchy is than the war. It won't be much better, but at least you can have less tinnitus to deal with.

>>1455156
Still trying to foment civil war, there, shill?

>>1455156
There is no concerted white movement in the United States, retard. Stop larping.

>>1455156
You have it the wrong way round anon. The continent was brown for millenia, had a brief influx of whitoid invaders (1492) and is now rebalancing back to it's natural state. Remember that you and your ancestors are the invaders, not the mexicans and indians.

>>1455162
>not the mexicans
Hmm, are you sure?