economy
Trump says "I love the inflation" because U.S. is "taking out" Iranian oil
Updated on: June 10, 2026 / 5:29 PM EDT / CBS News
TL;DR
- President Trump stated he "loves the inflation" and views recent inflation spikes positively.
- He linked inflation to U.S. military actions to intercept millions of barrels of Iranian oil through the Strait of Hormuz.
- Trump predicted that oil prices and inflation would drop rapidly once the current conflicts are resolved.
- He claimed U.S. control over the Strait of Hormuz has resulted in over 100 million barrels of oil entering the market and 200 commercial ships safely passing.
- Despite the president's claims, federal predictions forecast higher gas prices in the coming years.
- Democrats criticized Trump's comments, with some accusing him of showing contempt for the public and benefiting from rising costs.
- House Speaker Mike Johnson defended Trump, suggesting his remarks were taken out of context and referred to future economic improvements.