Trump: 'I Love the Inflation'

Inflation hit a three-year high in May, and President Trump's response was: Bring it on. Asked Wednesday if he was worried about consumer prices jumping 4.2% over the past year—including a 0.5% rise in May alone—Trump told reporters in the Oval Office, "No, I love it. The numbers were great." He later added, "I love the inflation." He tied those numbers to his Iran policy, saying the US had been "taking out millions of barrels of oil" past Iranian forces in the Strait of Hormuz, the AP reports. "That's why oil is $85 a barrel," Trump told reporters. The price for a barrel of Brent crude was around $94 on Wednesday.

Trump predicted that inflation would "come down like a rock" when the war was over, CBS News reports. Trump claimed the US had reached "the best economy we've ever hit" before the conflict, citing record stock market highs. "Everything was going well, and I said, I hate to do this to you guys but Iran's going to have a nuclear weapon very soon. We have to go and attack," he said.

The administration maintains energy prices will ease once fighting in the Middle East ends, but continued strikes during a fragile ceasefire have fueled doubts—and given critics more ammunition over Trump's comments that he isn't focused on Americans' finances while dealing with Tehran, the Hill reports.