Trump torches economist in fiery inflation feud: “Trump-hating loser”
President Trump’s latest social-media tirade targeted economist Peter Schiff, whom he labeled a “Trump-hating loser” over Schiff’s comments on the economy and the persistent cost-of-living pressures facing Americans.
Schiff appeared on a recent Fox News program where he warned that inflation may be reaccelerating. Trump pushed back.
“He thinks prices are going up when, in fact, they are coming substantially down,” Trump wrote on Truth Social, referring specifically to gasoline prices.
Schiff responded on X, saying he was being attacked “for telling the Fox audience the truth about the rising cost of living,” which he blamed on Trump’s first term, President Biden, and the current Trump administration.
Despite Trump’s criticism, Schiff isn’t alone in raising concerns about prices. Polls consistently show that Americans remain deeply worried about inflation and everyday expenses.
Inflation continues to bite
Inflation has cooled significantly from its mid-2022 peak, but it remains one of the biggest sources of financial strain for Americans.
According to the latest University of Michigan Consumer Sentiment Index, year-ahead inflation expectations remain slightly above 4%, and overall sentiment stays subdued as households grapple with elevated prices.
A CBS News poll conducted in October found that inflation and the broader economy remain respondents’ top national concerns, suggesting that today’s affordability challenges stem from a mix of long-running economic pressures and the more recent surge in prices.
That followed a September survey by Axios and the Harris Poll in which nearly half of Americans said groceries were less affordable than a year ago. Fewer than one in five respondents said grocery prices had become cheaper over the same period.
Trump’s supporters are feeling that strain as well. A mid-November Politico survey reported that 37% of Trump voters agree that “the cost of living here is the worst I can ever remember it being.”
Across the full electorate, 46% of Americans share that view.
If these trends continue, Republicans could risk losing their House majority in 2026, GOP strategist Ford O’Connell said.
Latest inflation data shows prices remain elevated
New government inflation figures indicate that consumer prices are still running hotter than central bank targets.
The Consumer Price Index (CPI) rose 3% in September from a year earlier, which is the latest release before the government shutdown.
The Federal Reserve’s preferred gauge, the Personal Consumption Expenditures (PCE) price index, increased 2.8% annually in September.
According to the Bureau of Economic Analysis, the PCE index has climbed for three consecutive months, underscoring the recent uptick in inflation momentum.