Trump says "I love the inflation" because U.S. is "taking out" Iranian oil
CBS News • • general
Key Points:
- President Trump expressed approval of the recent inflation rise, attributing it to U.S. military actions disrupting Iranian oil shipments through the Strait of Hormuz, and stated he expects inflation to drop sharply once the conflict ends.
- Trump revealed that the U.S. military has been targeting Iranian oil shipments, claiming destruction of 22 ships and control over the Strait of Hormuz, which he says has allowed over 100 million barrels of oil to reach the market safely.
- Despite higher oil prices and inflation, Trump highlighted the stock market reaching all-time highs and touted U.S. successes in Venezuela and Iran oil extraction efforts.
- Trump suggested Iran's military and economy are defeated and hinted at potential negotiations, emphasizing that inflation will decrease significantly after the war's conclusion.
- The inflation increase comes amid a midterm election year where Republicans face challenges, and Trump is currently trailing in economic-related polls despite previously strong support on economic issues.