Trump responds to rate hike with furious economic illiteracy, but he's the one to blame

A year after Donald Trump claimed, falsely, that the U.S. had already “solved inflation,” the editorial argues that the administration’s own policies are largely responsible for sticky inflation and higher consumer costs. It says Trump repeatedly told Americans that inflation was behind them, even as the Federal Reserve faced real-world data showing inflation and consumer prices remained discouraging, along with bond-market turmoil risks. The piece notes the Fed, led by Warsh, approved its first rate increase in three years and warns that higher rates are designed to slow the economy. The editorial argues Trump has no coherent plan to end the Iran war or abandon tariffs driving costs, and that he is “to blame” for the problem.