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economic policy institute
Trump's 'I Love the Inflation' Remark Seen as Latest Display of Contempt for Working Class
"There you have it: President Trump loves that you’re paying higher prices," said Sen. Elizabeth Warren.
Jun 11, 2026
US President Donald Trump's remarks Wednesday expressing "love" for new inflation figures were seen as yet another callous dismissal of the economic pain facing the nation's working class as price hikes driven by the Iran war erase wage gains and make it harder for Americans to afford basic needs.
“You know who doesn’t love inflation, Mr. President?” asked Sen. Bernie Sanders (I-Vt.) rhetorically. “Working families struggling to afford gas, groceries, and other necessities because of your disastrous actions.”
Asked about the new inflation numbers in the Oval Office on Wednesday, Trump said, "I love it, the numbers were great."
"I love the inflation," the billionaire president continued, celebrating figures showing that the Consumer Price Index hit a new three-year high last month.
Reporter: Are you concerned, Mr. President, about the latest inflation number which came out this morning?
Trump: No, I love it. I love the inflation. pic.twitter.com/vktX6C9lbk
— Acyn (@Acyn) June 10, 2026
Much of May's inflation was driven by increases in the cost of fuel, which is a direct result of Trump starting an illegal war of choice with Iran in February.
An analysis published by Ben Zipperer, senior economist at the Economic Policy Institute, found that the price increases caused by the Iran war have been so large that they've wiped out any prior gains in real wages during Trump's second term.
Zipperer also warned that "as long as the war continues, there is a heightened threat that price increases will spill over to the broader economy, triggering a more permanent increase in the cost of living and further reductions in real earnings."
Fresh data released Thursday by the BLS signals that inflation isn't slowing down anytime soon. According to the BLS' latest Producer Price Index (PPI) report, wholesale prices in May posted a yearly increase of 6.5%, the fastest rate since November 2022.
Because PPI measures input costs paid by businesses, it is usually predictive of future retail increases as companies pass the cost increases off to consumers.
Rep. Don Beyer (D-Va.) was among the lawmakers highlighting and condemning the president's remarks.
"Trump just said 'I love the inflation,'" Beyer wrote. "I guess he doesn’t care if you're being squeezed by higher costs as long as he and his cronies get richer."
Sen. Elizabeth Warren (D-Mass.) wrote on social media, "So there you have it: President Trump loves that you’re paying higher prices."
Andrew Mamo, a Democratic campaign adviser, said in an interview with The Hill that "every day the president says he loves something Americans clearly hate is a good day for Democrats."
In interviews with The New York Post published on Wednesday, multiple Republican strategists expressed concern not only about the rise in inflation, but Trump's apparently blasé attitude about the impact it's having on Americans' pocketbooks. The president's latest remarks came weeks after he confessed, on camera, that he doesn't "think about Americans' financial situation" as he wages war on Iran.
One former Trump campaign adviser told the Post that comments about "loving" inflation "are simply not productive unless he's looking forward to the impeachments from the Democrats in 2027."
Another GOP strategist told the Post that the clip of Trump saying he loved inflation would be "the centerpiece of a lot of effective ads" targeting Republicans this fall.
GOP strategist John Feehery went on the record to tell the Post that Trump needed to wrap up his war with Iran by early next month or "independents are going to swing hard against the Republicans in the election."
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No, Says Economist, March US Jobs Report 'Is Not Good'
"The latest jobs data show how President Trump's mismanagement of the economy—both domestically and internationally—is harming workers at home," said another expert.
Apr 03, 2026
As US Labor Secretary Lori Chavez-DeRemer on Friday declared that "America's economic comeback is on full display" and the country's "workers are winning again" due to what the business press and top newspapers called a "strong" March jobs report, some economists stressed the importance of looking beyond the topline figure and one month of data.
The US Bureau of Labor Statistics announced that employers added 178,000 jobs last month, with gains in construction, healthcare, and transportation and warehousing, and declines in the federal government. The unemployment rate fell slightly to 4.3%, with 7.2 million people officially jobless.
"Folks, today's jobs report is not good," declared Heidi Shierholz, president of the think tank Economic Policy Institute (EPI). She pointed to average job growth over the past two months, the reason for the drop in unemployment ("people leaving the labor force"), slowing wage growth, and the fact that "the effects of our war in Iran aren't even in these numbers yet."
EPI senior economist Elise Gould further explained those points on social media. Although the report "came in stronger than expected... much of the gain was a bounce back to February declines (now a loss of 133,000 jobs)," she said. "As a result, average monthly growth the last two months was only 22,500 jobs."
As far as the unemployment rate ticking down, "it's important to note that this happened for the 'wrong' reasons as both the labor force participation and the share of the population with a job also ticked down," Gould continued. "Job gains were strongest in healthcare as striking workers returned to work."
"Attacks on the federal workforce continue," she highlighted, with the sector down 18,000 jobs in March and 352,000 positions since January 2025, when President Donald returned to power. "The vital services federal employees provide cannot be done without these essential workers. The cost of these losses are only just beginning."
"Manufacturing rose 15,000 jobs in March, but still has a huge deficit since Trump took office. Since January 2025, the manufacturing sector has lost 82,000 jobs," the economist noted. "Wage growth has been slowing for the last few months, particularly driven by slower growth for production and nonsupervisory workers, roughly the lower 82% of the workforce."
Gould added that "we don't have the inflation data yet to show real wage changes in March, but slowing nominal wage growth coupled with rising prices from the Iran war almost surely means real wages will suffer, contributing to worsening affordability."
Trump and Israel launched their war on Iran at the end of February, and the new data is from the middle of March, so "the impact of the war and higher fuel prices will be limited" in this report, as Center for Economic and Policy Research co-founder Dean Baker acknowledged. "April could look considerably worse."
Breyon Williams, chief economist at another think tank, Groundwork Collaborative, said that "beyond today's headline bounce, the labor market continues to deteriorate under Trump's economic mismanagement: Hiring has ground to a halt, paychecks are shrinking, and workers are giving up on finding a job altogether. A single month of modest gains can't reverse the damage that the president has inflicted on working families."
A former senior Labor Department official who's now chief of policy programs at The Century Foundation, Angela Hanks, similarly asserted that "the latest jobs data show how President Trump's mismanagement of the economy—both domestically and internationally—is harming workers at home."
"While the topline rate does not yet reflect the war's impact on the job market, wage growth has stalled, and oil prices are skyrocketing, resulting in higher prices for consumers and threatening to weaken the job market," she noted. Specifically, according to a Thursday report from Democratic members of the congressional Joint Economic Committee, Americans spent an extra $8.4 billion at the gas pump in the first month of Trump's war.
"Families are already under tremendous pressure from rising prices, slowing job growth, and mounting debt as they struggle to make ends meet, and not seeing help on the way," said Hanks. "Families and workers across the country deserve leadership that puts them first and works to make living a fulfilling life affordable for everyone. Instead, they're stuck with leaders in Washington more focused on needless and damaging wars and slashing the safety net to pay for them."
After passing a 2025 budget package that gave the rich more tax breaks by slashing over $1 trillion from the safety net, including food assistance and Medicaid—which is expected to leave millions of Americans without health insurance—congressional Republicans are considering more healthcare cuts to fund Trump's war. The Pentagon has asked for at least $200 billion for Iran, and more broadly, the president wants an unprecedented $1.5 trillion in military spending for the next fiscal year.
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Report Details How Trump Economic Agenda ‘Will Make Ordinary Families Reliably Poorer in the Future’
In just one year, Republicans' 2025 budget package is expected to increase income inequality at quadruple the rate seen over the past 40 years.
Feb 24, 2026
President Donald Trump's economic agenda "will make ordinary families reliably poorer in the future," according to the author of a report published Tuesday by the Economic Policy Institute.
Josh Bivens, EPI's chief economist, said Trump's slashing of federal spending and jobs, mass deportations, chaotic tariffs, and anti-labor policies were suppressing hiring and wages, draining household and business spending, and slowing economic growth.
While a recession is not yet inevitable, Bivens argued that worrying signs are already on the horizon, with 1.4 million fewer new jobs than expected in 2025 and unemployment ticking up to 4.4%, up from the low of 3.4% in April 2023.
For low-wage earners, the past year has been particularly rough. After seeing unusually fast growth during the presidency of Joe Biden, real wages for the bottom 10% of earners fell by 0.3% in 2025.
The report predicts that Republicans' 2025 budget package will reduce “aggregate demand” in the coming years. The so-called One Big Beautiful Bill Act cuts $100 billion annually from Medicaid and the Supplemental Nutrition Assistance Program (SNAP), while allowing health insurance subsidies that saved families thousands to expire, which the report projects will cause many families who rely on these benefits to pull back spending in the economy.
While the law reduced taxes, the vast majority of those benefits went to the wealthiest earners, whose spending was already much less constrained by their incomes.
The report notes the astonishing increase in inequality caused by the law. Between the years of 1979 and 2019, which were considered to have seen an explosion of wealth inequality, the share of income claimed by the richest 10% increased by about 0.25% per year.
It found that the GOP budget law will, in just one year, increase the top decile's share of wealth by a full percentage point. In other words, the rate of inequality will "quadruple in its first year."
Aside from this major driver of inequality, the report also says that the Trump administration's hostility toward collective bargaining rights and its mass firings of federal workers would further suppress wages by making the labor market less competitive, and that the president's erratic tariff regime would make those wages less valuable by fueling inflation.
“Disastrous policy choices that led to excess unemployment, slower growth in the economy’s productive capacity, and rising inequality have made life less affordable for typical families in recent decades," Bivens said. "The Trump administration’s policies double down on the worst policy decisions of this period and will make ordinary families reliably poorer in the future, even if an outright recession or spiking inflation does not happen."
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