by Daniel Brouse
May 10, 2025
“‘Too Late’ Jerome Powell is a FOOL, who doesn’t have a clue. Other than that, I like him very much! Oil and Energy way down, almost all costs (groceries and ‘eggs’) down, virtually NO INFLATION, Tariff Money Pouring Into the U.S. — THE EXACT OPPOSITE OF ‘TOO LATE!’ ENJOY!”
— Donald Trump, May 8, 2025
This statement makes multiple false and misleading claims.
1. “Virtually NO INFLATION” — False
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Reality: As of early to mid-2025, the U.S. still experiences persistent inflation above the Federal Reserve’s 2% target. While it has moderated from its 2022 peak, core inflation remains elevated, especially in services (e.g., housing, insurance).
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Misleading: Even if energy or eggs are down in price short term, overall consumer price levels remain significantly higher than in 2019. “Virtually no inflation” misrepresents the lived experience of most Americans.
2. “Oil and Energy way down” — Misleading
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Reality: Energy prices fluctuate, but they are still volatile and subject to geopolitical pressures (e.g., OPEC+ cuts, Middle East instability, climate-driven supply disruptions).
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A decline in oil prices due to a slowing global economy is a negative signal, not a reason for celebration. Historically, sustained oil price drops (when not due to supply surges) often precede or coincide with economic slowdowns or recessions.
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Gasoline prices remain relatively high compared to pre-COVID levels. Donald Trump has falsely claimed that gas prices are below two dollars per gallon in many states, which is not supported by current data. Both Trump and some White House spokespeople have confused oil futures contracts with actual retail gasoline prices. If gas prices do fall due to lower oil prices and a slowing global economy, the benefit to consumers may be minimal—especially if unemployment rises and people are driving less. Additionally, if lower gasoline prices spur increased demand, this could exacerbate climate-related inflation, particularly in sectors like insurance. In the end, the net cost to consumers may still rise, despite cheaper fuel.
3. “Almost all costs (groceries and ‘eggs’) down” — False
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Reality: Food prices have risen substantially since 2020. Even if eggs or specific items dropped after a spike (e.g., due to avian flu), the overall grocery bill remains much higher than a few years ago.
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The USDA and BLS data show food inflation continues to burden consumers.
4. “Tariff money pouring into the U.S.” — Misleading and Economically Illiterate
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Reality: Tariffs are taxes paid by U.S. importers, not foreign governments. Any money collected goes into the Treasury from American businesses, not “from China.”
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Tariffs often lead to higher prices for consumers and reduced competitiveness for U.S. firms. There is no evidence that tariffs have “poured” beneficial money into the U.S. in a net economic sense.
5. Jerome Powell is a “fool” who is “too late” — False framing
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Reality: Powell raised interest rates aggressively beginning in 2022, faster than in any cycle since the 1980s, specifically to combat inflation.
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While one could debate timing or magnitude, he acted decisively. The Fed’s moves helped slow inflation, albeit with some lag.
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Calling him “too late” while simultaneously claiming there’s “no inflation” is contradictory.
Summary:
The statement is riddled with falsehoods, contradictions, and economic misconceptions, such as:
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Ignoring persistent inflation trends.
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Misrepresenting the role and effect of tariffs.
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Cherry-picking price data.
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Criticizing Powell for being “too late” while celebrating current inflation as “virtually zero.”