Trump's go-to economic boast vanishes in new data: report
President Donald Trump has had one clear economic statistic he could brag about — but the new inflation data shows even that is gone now.Specifically, inflation-adjusted wage gains, which were relatively strong even into Trump's term as inflation worsened, have been essentially wiped out with the latest Bureau of Labor Statistics data, according to Axios.The new development, according to the report, "shows how the recent energy-driven inflation surge is eating into household purchasing power," with inflation-adjusted compensation for workers now only 0.1 percent higher since January 2025 — essentially flat.This comes as Trump's war in Iran has led to the Strait of Hormuz, through which 20 percent of the world's oil passes, being practically shut down, disrupting world energy markets and causing prices to surge everywhere. Trump reportedly considered ending the war without a resolution on the Strait at one point.For his part, the president denies anything wrong with the current economy, and even went so far as to proclaim, "I love the inflation." He has also claimed he's solving the Strait of Hormuz crisis by secretly transporting 100 million barrels of oil, a claim that couldn't be verified.
