July 17, 2026 • 16 mins
1. Strait of Hormuz and Iran Conflict
Key points discussed include:
- Claims that military confrontations between the U.S. and Iran are ongoing.
- Concerns about threats to commercial shipping and global energy supplies.
- Discussion of a proposed U.S. transit fee for ships using the Strait of Hormuz, which the speaker says was later replaced with trade and investment agreements involving Gulf states.
- Assertions that the U.S. is maintaining a blockade on Iranian shipping while protecting international maritime traffic.
- Discussion of rising oil prices, shipping disruptions, and broader economic implications.
U.S. actions are necessary to maintain freedom of navigation and prevent Iran from disrupting world trade and energy markets.
2. Inflation and the U.S. Economy
- Inflation has fallen significantly.
- Economic analysts and media outlets underestimated the improvement in inflation figures.
- Lower energy prices contributed heavily to the reported decline in inflation.
- The economic results support President Trump's policies and leadership.
This is evidence that media organizations and economists have been overly pessimistic about the economy.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
But most importantly, addressing this crisis of election security demands
that Congress must pass the Save America Act. How easy
is that to do unless you want to cheat? The
only reason you wouldn't do it is you want to
cheat because your policies are so bad and your candidates
are so pathetic that you can't get away or can't
(00:23):
get elected any other way. This landmark bill requires that
all voters must show photo voter ID.
Speaker 2 (00:32):
How simple is that.
Speaker 3 (00:33):
You're listening to the forty seven Morning Update with Ben ferguson.
Speaker 2 (00:37):
Good Friday morning.
Speaker 4 (00:38):
Nice to have you with us on the forty seven
Morning Update, and we've got two.
Speaker 2 (00:41):
Big stories for you.
Speaker 4 (00:42):
First up, the President has a major update on the
straight of hormus and it now means that those tolls
that were promised that we're going to be paid they
may be disappearing because of a new deal. Also, the
media and the economists, yeah, they got it wrong. Inflation
numbers are out and it was a big drop, in fact,
(01:03):
the biggest drop in inflation in six years.
Speaker 2 (01:06):
So where is it.
Speaker 4 (01:07):
Now and how did the economists and everyone else get
it wrong? Could it be it's just because they hate
Donald Trump. We'll explain it to you now. Before we
get to both those stories, I want to talk to
you right now about how the stakes could not be
any higher. We finally have a president and administration fighting
hard for America first. But if conservatives like you and
I lose focus now, the same people who created this
(01:29):
mess are ready and waiting to resume their destruction their
progressive agenda. And protecting this momentum takes more than votes.
It takes every American like you staying in the fight
for our rights and freedoms. And that's why more and
more people I know are switching to Patriot Mobile. It
is America's only Christian conservative wireless provider now, Patriot Mobile,
(01:52):
which I use every day, and they're amazing. They offer
premium priority nationwide service on all three major US networks,
unlimited data plans, mobile hotspots, international roaming. They've got it
all and I love their team because it's one hundred
percent US based customer support.
Speaker 2 (02:09):
Switching has never been easier.
Speaker 4 (02:11):
You can do it in minutes while keeping your same
phone and the same phone number you've got right now. Now,
this is where the magic comes in. Unlike the other carriers,
Patriot Mobile they put their money towards causes that defend faith, family,
and freedom. They literally contribute millions of dollars each year
to organizations on the front lines fighting for our God
(02:32):
given rights. And that is why I love Patriot Mobile. So,
whether you've got a small business, or a bunch of
family lines, or just your phone number, switch it today.
Speaker 2 (02:41):
Join the movement.
Speaker 4 (02:42):
Go to Patriotmobile dot com slash Ben forty seven, Patriotmobile
dot com slash Ben forty seven or nine to seven
to Patriot and if you use the promo code Ben
forty seven, you're gonna get a free month of service.
That's Patriotmobile dot com slash Ben forty seven or nine
to seven to two Patriot To make that switch today,
(03:03):
it's the forty seven Morning Update and it starts right now.
Speaker 3 (03:06):
Story number one.
Speaker 4 (03:07):
The Strain of War moves remains one of the most
strategically important waterways on Earth. That's why we're talking about
it so much. As I've said before, about one fifth
of the world's all supply normally passes through the shipping
lane each and every day. President Donald Trump has continued
now to escalate pressure on Iran while also adjusting parts
(03:31):
of his strategy, and today Trump said no country should
be charging ships a fee to pass through the strain
of war moves backing away from that earlier proposal for
a US imposed transit fee.
Speaker 1 (03:44):
Now.
Speaker 4 (03:44):
I'm going to have more on that in a moment,
But the military situation remains extremely tense. The United States
has continued intense strikes against the Iranian military targets after
accusing Tehran of violating previous understandings and threatening shipping throughout
the Persian Gulf. Iranian forces have also responded with missile
(04:07):
and drone attacks targeting Golf Region facilities and maritime traffic,
keeping the entire region well on edge.
Speaker 2 (04:15):
Now.
Speaker 4 (04:15):
One of the biggest concerns right now is still very
much commercial shipping. Major shipping companies are continuing to monitor
the situation carefully, and vessel traffic through the strait has
slowed significantly. Why because the insurers and the cargo companies
and the tanker operators are now weighing the real growing
risk from Iran. Every reduction in shipping raises concerns about
(04:40):
higher energy prices and potential supply disruptions if the conflict worsens. Meanwhile,
Iran's political leadership is also signaling that it intends to
maintain quote unquote their pressure.
Speaker 2 (04:54):
According to new reports.
Speaker 4 (04:56):
Lawmakers in Tehran are advancing legislation really to Iranians con
over the Strait of hor Moves. That is a move
that analysts believe is intended to both strengthen Iran's negotiating
position and also demonstrate resolve domestically and send a clear
message of the US and the Middle East that they're
not done fighting.
Speaker 2 (05:16):
Now.
Speaker 4 (05:16):
From Washington, the Trump administration is continuing to argue that
freedom of navigation must be protected and that Iran cannot
be allowed to threaten one of the world's most important
maritime choke points. Now, military analysts also say the United
States now faces two well simultaneous objectives. Number one, protect
(05:36):
international shipping, and then number two, to prevent the conflict
from expanding into a broader regional war involving additional countries
that Iran would love to bring into the mix. Now
these goals are becoming increasingly difficult. Why because Iran continues
to act more and more erratic each and every day. Now,
(05:57):
the financial markets are also watching every development closely, and
this does have an impact on you and your family's budget.
Oil prices have climbed sharply amid the renewed fears of
supply disruptions, and investors are trying to determine whether this
becomes a prolonged confrontation or whether diplomacy can eventually reduce tensions.
(06:18):
Even rumors surrounding the Strait of hor moves can move
global markets instantly because of its enormous importance to international
energy and President Trump has also made it clear that
he believes America's role in protecting international shipping has come
at significant costs to the United States of America, and
that's why he talked about having a proposed transit fee. Well,
(06:41):
let's talk about what has happened with that in the
last twenty four hours now. President Donald Trump announced on
Tuesday afternoon that he has now decided to replace his
proposed twenty percent reimbursement fee on cargo ships transiting the
Straight of Hormus with trade and investment deals involving gulfs dates,
while maintaining a blockade on ships traveling to or from
(07:04):
Iranian ports or carrying Iranian cargo that would include their
oil quote. Oil is flowing like never before thanks to
the awesome power of the United States military Trump said
on true social He credited the Secretary of War Pete Headseth,
the Chairman of the Joint Chiefs and the US Central Command,
and American service members for the victory.
Speaker 2 (07:25):
Trump said the sort of.
Speaker 4 (07:26):
Ramus is open to all ships traffic except for Iran,
blaming Tehran saying they're lying violent and malicious leadership for
place in the country and a path towards quote total destruction,
the president saying, we will therefore have a full blockade,
but only on ships coming to and from Iranian ports
(07:48):
or carrying anything that has to do with Iranian cargo.
And The President announced then that he would replace that
twenty percent fee that he proposed Monday to reimburse the
United States for protecting international shipping through the waterway with
something different, saying, quote, based on highly productive conversations with
Middle East leadership, I've decided to replace the twenty percent
(08:11):
United States reimbursement fee with trade and investment deals that
the various Golf States will be making into the United
States of America. The President also described the planned investment
as massive and said they would also be extraordinarily good
for the Gulf States and their futures, as well as
everyone is aware. We have the largest dollar investment into
(08:34):
the United States of any country in history. But these
new investments will make the number even larger, and we
will see factories, plants, and equipment pour into the United
States at historic levels, which will then create additional millions
of high paying American jobs. The president said, America is
winning again, winning like never before. The days of Iran
(08:57):
killing hundreds of thousands of people fifty two thousand protesters
are over, and most importantly, Iran will never have a
nuclear weapon now. Trump's announcement also came after US forces
carried out a five hour mission targeting Iranian coastal defense systems,
missile and drone sites, and maritime capabilities to further degrade
(09:20):
Iran's ability to attack commercial shipping. US Central Command said
the strikes hit military targets across Iran, including many areas
that were very close to where the shipping channel is.
Speaker 1 (09:32):
Now.
Speaker 4 (09:33):
Trump had declared the ceasefire over and said the United
States would take over the Strait of Hormus and become
its guardian now. Trump first announced that twenty percent reimbursement
on Monday, declaring that the United States and the Straight
of hor moves would be open and it will remain
open with or without Iran. And that is when he
(09:53):
said the United States was reinstating that Iranian blockade, which
would only stop Iran ships or customer from entering or leaving,
while all other countries would have fair and open use
of the strait. Trump said the United States would expect
to be reimbursed for protecting international shipping at that rate
of twenty percent on all cargo ships. Now, the President
(10:14):
has clearly changed that. Now here's what's happened. When it
comes to the price of the pump. Oil prices have
risen four percent in early trading on Monday going into Tuesday.
Goldman Sachs came out and warned that the renewed escalation
would increase short term risk of higher prices by further
disrupting golf exports. And that is exactly why the President's
(10:35):
made it clear that in America, we have to continue
to drill, baby, drill. One thing is for sure, the
President is being very proactive right now making sure that
Iran doesn't hold the world hostage. And also the President
says the US will knock out Iran's power plants and
bridges next week unless the regime makes a deal. Take
(10:57):
a listen to what the President had to say in
his own worlds. Strikes were seen this week against Iran
will expand, are you considering hitting energy targets or other locations.
Speaker 1 (11:08):
I'll save the energy targets for last, but ultimately we'll
hit energy targets. Yeah, but we're going to hit them
very hard. Tonight, We're going to hit them very hort.
Tomorrow night, we're gonna hit him very hard the night after.
And then next week it gets really bad for them
because next week comes the power plants. Next week comes
(11:31):
the bridges. We're going to knock out all their power plants.
We're going to knock out all the bridges unless they
get to the table and negotiate.
Speaker 2 (11:38):
Do you believe the Iranians are serious about making a deal.
Speaker 1 (11:41):
I think they have no choice.
Speaker 2 (11:43):
Why haven't they yet?
Speaker 1 (11:44):
I think if I didn't do the way I'm doing,
they would never make a deal.
Speaker 4 (11:48):
So there's the President in his own words, saying that
next week the US will not out RAN's power plants
and bridges unless the regime makes a deal. We'll obviously
keep you updated on all of this. Next story Number two,
All sixty seven economists got Donald Trump's inflation report wrong.
(12:09):
That's right, America. They want you to believe the economy
is terrible. But real inflation it just dropped by zero
point four percent.
Speaker 2 (12:19):
That is the biggest drop in six years.
Speaker 4 (12:22):
Bloomberg surveyed sixty seven economists, and sixty seven of those economists,
like I said, got it wrong. Now, the latest consumer
price Index shows that inflation cooled much more than the
analysts had expected. Consumer price is following zero point four
percent from the previous month. Again, that is the largest
(12:43):
monthly decline since the early months of the COVID nineteen pandemic. Now,
while the annual inflation rate slowed also to three point five,
down from four point two in May. Economists had generally
expected inflation to well somewhat cool, but not the much
and certainly not this fast.
Speaker 2 (13:03):
Now.
Speaker 4 (13:03):
The financial markets, they reacted quickly. Stocks moved higher, Treasury
yields fell, and investors increased expectations that the Federal Reserve
could leave interest rates unchanged in the near term because
inflation came in cooler than forecasted by all the quote
unquote experts. Now, much of the improvement came from lower
(13:25):
energy costs, gasoline prices dropped sharply during June, contributing significantly
to the overall decline in inflation, and while lower fuel
prices were the biggest driver, the report also showed that
core inflation now that includes food and energy, was essentially
flat for the month and slow to two point six
percent over the past year. That's not just good news.
(13:47):
That is great news for all Americans. As for President Trump,
this report is an opportunity for him to argue that
the economy is moving in the right direction under his administration.
And throughout the year, he had made that inflation would
come down while economic growth remain resilient, and today's report
supports the view that inflation ease more than many forecasters
(14:10):
had anticipated. You got to ask yourself the question, is
it because the media and the economists they hate President
Trump and they want him to have a big loss
in the midterm elections.
Speaker 2 (14:21):
That's why they keep preaching doom and gloom.
Speaker 4 (14:24):
Even though I'll say it again, this is the biggest
inflation drop in six years. Now what this also means,
and it's also very important for you to understand that
this report represents meaningful progress compared with the elevated inflation
reading scene earlier this year. When you have lower monthly inflation,
that can translate into less pressure on household budgets, and
(14:47):
it also reduces the need for additional interest rate increases
if the trend continued. The bottom line is this, today's
inflation report came in much better than expected. That's why
the media is not going to be talking about it.
And if it was a bad report, it would have
been leading the news on every channel, but now they
(15:07):
don't want you to know this Now the markets they
also welcome the news. It also strengthened the argument that
inflation pressures ease significantly during June could be a real
sign of what's to come. Now, whether this marks the
beginning of a lasting trend, it's going to depend on
the future reports. It's going to depend on energy prices
(15:29):
and broader economic conditions. But one thing is for sure.
Today's data shows that were undeniably stronger as a country
than all the economists talking to Bloomberg had anticipated. And
the reason why is because President Donald Trump continues to
push policies that put the American worker ahead of everyone else.
Speaker 3 (15:51):
Thank you for listening to the forty seven Morning Update
with Ben Ferguson. Please make sure you hit subscribe wherever
you're listening to this podcast right now and for more
in depth news, also subscribe to the Ben Ferguson Podcast
and we will see you back here tomorrow
But most importantly, addressing this crisis of election security demands
that Congress must pass the Save America Act. How easy
is that to do unless you want to cheat? The
only reason you wouldn't do it is you want to
cheat because your policies are so bad and your candidates
are so pathetic that you can't get away or can't
(00:23):
get elected any other way. This landmark bill requires that
all voters must show photo voter ID.
Speaker 2 (00:32):
How simple is that.
Speaker 3 (00:33):
You're listening to the forty seven Morning Update with Ben ferguson.
Speaker 2 (00:37):
Good Friday morning.
Speaker 4 (00:38):
Nice to have you with us on the forty seven
Morning Update, and we've got two.
Speaker 2 (00:41):
Big stories for you.
Speaker 4 (00:42):
First up, the President has a major update on the
straight of hormus and it now means that those tolls
that were promised that we're going to be paid they
may be disappearing because of a new deal. Also, the
media and the economists, yeah, they got it wrong. Inflation
numbers are out and it was a big drop, in fact,
(01:03):
the biggest drop in inflation in six years.
Speaker 2 (01:06):
So where is it.
Speaker 4 (01:07):
Now and how did the economists and everyone else get
it wrong? Could it be it's just because they hate
Donald Trump. We'll explain it to you now. Before we
get to both those stories, I want to talk to
you right now about how the stakes could not be
any higher. We finally have a president and administration fighting
hard for America first. But if conservatives like you and
I lose focus now, the same people who created this
(01:29):
mess are ready and waiting to resume their destruction their
progressive agenda. And protecting this momentum takes more than votes.
It takes every American like you staying in the fight
for our rights and freedoms. And that's why more and
more people I know are switching to Patriot Mobile. It
is America's only Christian conservative wireless provider now, Patriot Mobile,
(01:52):
which I use every day, and they're amazing. They offer
premium priority nationwide service on all three major US networks,
unlimited data plans, mobile hotspots, international roaming. They've got it
all and I love their team because it's one hundred
percent US based customer support.
Speaker 2 (02:09):
Switching has never been easier.
Speaker 4 (02:11):
You can do it in minutes while keeping your same
phone and the same phone number you've got right now. Now,
this is where the magic comes in. Unlike the other carriers,
Patriot Mobile they put their money towards causes that defend faith, family,
and freedom. They literally contribute millions of dollars each year
to organizations on the front lines fighting for our God
(02:32):
given rights. And that is why I love Patriot Mobile. So,
whether you've got a small business, or a bunch of
family lines, or just your phone number, switch it today.
Speaker 2 (02:41):
Join the movement.
Speaker 4 (02:42):
Go to Patriotmobile dot com slash Ben forty seven, Patriotmobile
dot com slash Ben forty seven or nine to seven
to Patriot and if you use the promo code Ben
forty seven, you're gonna get a free month of service.
That's Patriotmobile dot com slash Ben forty seven or nine
to seven to two Patriot To make that switch today,
(03:03):
it's the forty seven Morning Update and it starts right now.
Speaker 3 (03:06):
Story number one.
Speaker 4 (03:07):
The Strain of War moves remains one of the most
strategically important waterways on Earth. That's why we're talking about
it so much. As I've said before, about one fifth
of the world's all supply normally passes through the shipping
lane each and every day. President Donald Trump has continued
now to escalate pressure on Iran while also adjusting parts
(03:31):
of his strategy, and today Trump said no country should
be charging ships a fee to pass through the strain
of war moves backing away from that earlier proposal for
a US imposed transit fee.
Speaker 1 (03:44):
Now.
Speaker 4 (03:44):
I'm going to have more on that in a moment,
But the military situation remains extremely tense. The United States
has continued intense strikes against the Iranian military targets after
accusing Tehran of violating previous understandings and threatening shipping throughout
the Persian Gulf. Iranian forces have also responded with missile
(04:07):
and drone attacks targeting Golf Region facilities and maritime traffic,
keeping the entire region well on edge.
Speaker 2 (04:15):
Now.
Speaker 4 (04:15):
One of the biggest concerns right now is still very
much commercial shipping. Major shipping companies are continuing to monitor
the situation carefully, and vessel traffic through the strait has
slowed significantly. Why because the insurers and the cargo companies
and the tanker operators are now weighing the real growing
risk from Iran. Every reduction in shipping raises concerns about
(04:40):
higher energy prices and potential supply disruptions if the conflict worsens. Meanwhile,
Iran's political leadership is also signaling that it intends to
maintain quote unquote their pressure.
Speaker 2 (04:54):
According to new reports.
Speaker 4 (04:56):
Lawmakers in Tehran are advancing legislation really to Iranians con
over the Strait of hor Moves. That is a move
that analysts believe is intended to both strengthen Iran's negotiating
position and also demonstrate resolve domestically and send a clear
message of the US and the Middle East that they're
not done fighting.
Speaker 2 (05:16):
Now.
Speaker 4 (05:16):
From Washington, the Trump administration is continuing to argue that
freedom of navigation must be protected and that Iran cannot
be allowed to threaten one of the world's most important
maritime choke points. Now, military analysts also say the United
States now faces two well simultaneous objectives. Number one, protect
(05:36):
international shipping, and then number two, to prevent the conflict
from expanding into a broader regional war involving additional countries
that Iran would love to bring into the mix. Now
these goals are becoming increasingly difficult. Why because Iran continues
to act more and more erratic each and every day. Now,
(05:57):
the financial markets are also watching every development closely, and
this does have an impact on you and your family's budget.
Oil prices have climbed sharply amid the renewed fears of
supply disruptions, and investors are trying to determine whether this
becomes a prolonged confrontation or whether diplomacy can eventually reduce tensions.
(06:18):
Even rumors surrounding the Strait of hor moves can move
global markets instantly because of its enormous importance to international
energy and President Trump has also made it clear that
he believes America's role in protecting international shipping has come
at significant costs to the United States of America, and
that's why he talked about having a proposed transit fee. Well,
(06:41):
let's talk about what has happened with that in the
last twenty four hours now. President Donald Trump announced on
Tuesday afternoon that he has now decided to replace his
proposed twenty percent reimbursement fee on cargo ships transiting the
Straight of Hormus with trade and investment deals involving gulfs dates,
while maintaining a blockade on ships traveling to or from
(07:04):
Iranian ports or carrying Iranian cargo that would include their
oil quote. Oil is flowing like never before thanks to
the awesome power of the United States military Trump said
on true social He credited the Secretary of War Pete Headseth,
the Chairman of the Joint Chiefs and the US Central Command,
and American service members for the victory.
Speaker 2 (07:25):
Trump said the sort of.
Speaker 4 (07:26):
Ramus is open to all ships traffic except for Iran,
blaming Tehran saying they're lying violent and malicious leadership for
place in the country and a path towards quote total destruction,
the president saying, we will therefore have a full blockade,
but only on ships coming to and from Iranian ports
(07:48):
or carrying anything that has to do with Iranian cargo.
And The President announced then that he would replace that
twenty percent fee that he proposed Monday to reimburse the
United States for protecting international shipping through the waterway with
something different, saying, quote, based on highly productive conversations with
Middle East leadership, I've decided to replace the twenty percent
(08:11):
United States reimbursement fee with trade and investment deals that
the various Golf States will be making into the United
States of America. The President also described the planned investment
as massive and said they would also be extraordinarily good
for the Gulf States and their futures, as well as
everyone is aware. We have the largest dollar investment into
(08:34):
the United States of any country in history. But these
new investments will make the number even larger, and we
will see factories, plants, and equipment pour into the United
States at historic levels, which will then create additional millions
of high paying American jobs. The president said, America is
winning again, winning like never before. The days of Iran
(08:57):
killing hundreds of thousands of people fifty two thousand protesters
are over, and most importantly, Iran will never have a
nuclear weapon now. Trump's announcement also came after US forces
carried out a five hour mission targeting Iranian coastal defense systems,
missile and drone sites, and maritime capabilities to further degrade
(09:20):
Iran's ability to attack commercial shipping. US Central Command said
the strikes hit military targets across Iran, including many areas
that were very close to where the shipping channel is.
Speaker 1 (09:32):
Now.
Speaker 4 (09:33):
Trump had declared the ceasefire over and said the United
States would take over the Strait of Hormus and become
its guardian now. Trump first announced that twenty percent reimbursement
on Monday, declaring that the United States and the Straight
of hor moves would be open and it will remain
open with or without Iran. And that is when he
(09:53):
said the United States was reinstating that Iranian blockade, which
would only stop Iran ships or customer from entering or leaving,
while all other countries would have fair and open use
of the strait. Trump said the United States would expect
to be reimbursed for protecting international shipping at that rate
of twenty percent on all cargo ships. Now, the President
(10:14):
has clearly changed that. Now here's what's happened. When it
comes to the price of the pump. Oil prices have
risen four percent in early trading on Monday going into Tuesday.
Goldman Sachs came out and warned that the renewed escalation
would increase short term risk of higher prices by further
disrupting golf exports. And that is exactly why the President's
(10:35):
made it clear that in America, we have to continue
to drill, baby, drill. One thing is for sure, the
President is being very proactive right now making sure that
Iran doesn't hold the world hostage. And also the President
says the US will knock out Iran's power plants and
bridges next week unless the regime makes a deal. Take
(10:57):
a listen to what the President had to say in
his own worlds. Strikes were seen this week against Iran
will expand, are you considering hitting energy targets or other locations.
Speaker 1 (11:08):
I'll save the energy targets for last, but ultimately we'll
hit energy targets. Yeah, but we're going to hit them
very hard. Tonight, We're going to hit them very hort.
Tomorrow night, we're gonna hit him very hard the night after.
And then next week it gets really bad for them
because next week comes the power plants. Next week comes
(11:31):
the bridges. We're going to knock out all their power plants.
We're going to knock out all the bridges unless they
get to the table and negotiate.
Speaker 2 (11:38):
Do you believe the Iranians are serious about making a deal.
Speaker 1 (11:41):
I think they have no choice.
Speaker 2 (11:43):
Why haven't they yet?
Speaker 1 (11:44):
I think if I didn't do the way I'm doing,
they would never make a deal.
Speaker 4 (11:48):
So there's the President in his own words, saying that
next week the US will not out RAN's power plants
and bridges unless the regime makes a deal. We'll obviously
keep you updated on all of this. Next story Number two,
All sixty seven economists got Donald Trump's inflation report wrong.
(12:09):
That's right, America. They want you to believe the economy
is terrible. But real inflation it just dropped by zero
point four percent.
Speaker 2 (12:19):
That is the biggest drop in six years.
Speaker 4 (12:22):
Bloomberg surveyed sixty seven economists, and sixty seven of those economists,
like I said, got it wrong. Now, the latest consumer
price Index shows that inflation cooled much more than the
analysts had expected. Consumer price is following zero point four
percent from the previous month. Again, that is the largest
(12:43):
monthly decline since the early months of the COVID nineteen pandemic. Now,
while the annual inflation rate slowed also to three point five,
down from four point two in May. Economists had generally
expected inflation to well somewhat cool, but not the much
and certainly not this fast.
Speaker 2 (13:03):
Now.
Speaker 4 (13:03):
The financial markets, they reacted quickly. Stocks moved higher, Treasury
yields fell, and investors increased expectations that the Federal Reserve
could leave interest rates unchanged in the near term because
inflation came in cooler than forecasted by all the quote
unquote experts. Now, much of the improvement came from lower
(13:25):
energy costs, gasoline prices dropped sharply during June, contributing significantly
to the overall decline in inflation, and while lower fuel
prices were the biggest driver, the report also showed that
core inflation now that includes food and energy, was essentially
flat for the month and slow to two point six
percent over the past year. That's not just good news.
(13:47):
That is great news for all Americans. As for President Trump,
this report is an opportunity for him to argue that
the economy is moving in the right direction under his administration.
And throughout the year, he had made that inflation would
come down while economic growth remain resilient, and today's report
supports the view that inflation ease more than many forecasters
(14:10):
had anticipated. You got to ask yourself the question, is
it because the media and the economists they hate President
Trump and they want him to have a big loss
in the midterm elections.
Speaker 2 (14:21):
That's why they keep preaching doom and gloom.
Speaker 4 (14:24):
Even though I'll say it again, this is the biggest
inflation drop in six years. Now what this also means,
and it's also very important for you to understand that
this report represents meaningful progress compared with the elevated inflation
reading scene earlier this year. When you have lower monthly inflation,
that can translate into less pressure on household budgets, and
(14:47):
it also reduces the need for additional interest rate increases
if the trend continued. The bottom line is this, today's
inflation report came in much better than expected. That's why
the media is not going to be talking about it.
And if it was a bad report, it would have
been leading the news on every channel, but now they
(15:07):
don't want you to know this Now the markets they
also welcome the news. It also strengthened the argument that
inflation pressures ease significantly during June could be a real
sign of what's to come. Now, whether this marks the
beginning of a lasting trend, it's going to depend on
the future reports. It's going to depend on energy prices
(15:29):
and broader economic conditions. But one thing is for sure.
Today's data shows that were undeniably stronger as a country
than all the economists talking to Bloomberg had anticipated. And
the reason why is because President Donald Trump continues to
push policies that put the American worker ahead of everyone else.
Speaker 3 (15:51):
Thank you for listening to the forty seven Morning Update
with Ben Ferguson. Please make sure you hit subscribe wherever
you're listening to this podcast right now and for more
in depth news, also subscribe to the Ben Ferguson Podcast
and we will see you back here tomorrow
Host
Ben Ferguson
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