White House's Navarro on CPI, Tariffs and Labor Data

Inflation Analysis - CPI came in at 27%, seemingly above target, while the Personal Consumption Expenditures Index runs lower at 22% to 24% [1][2] - Annualized inflation based on a six-month basis since Trump took office shows 19% [2] - Energy prices are down and food prices are flat, indicating positive signs [2] - Shelter costs are up, but this is considered a lagging indicator [3] Tariff Impact and Trade - Foreign countries, especially those with large trade deficits with the US, are absorbing the tariffs because the US is their biggest market [9][10] - Goldman Sachs' research indicates that US consumers have absorbed about 22% of tariff costs, while businesses absorbed 64% [11] Data Trust and Government Reports - The speaker expresses distrust in BLS data, citing past inaccuracies that punished Trump's administration and inflated figures during Biden's term [17][18] - There's a suggestion to rely more on private research, questioning the government's role in providing economic data [16] Economic Outlook and Policy - The message to Jay Powell is to acknowledge the positive inflation situation [4] - Concerns are raised about Jay Powell's performance, citing three major blunders costing the economy tens of billions of dollars [22]