Stated on September 19, 2025 in an exchange with reporters in the White House:
The U.S. currently has “no inflation.”
Trump said the U.S. currently has "no inflation."
By two measures — the inflation rate and the Federal Reserve’s target for "price stability" — the statement is inaccurate.
The inflation rate is not zero; it’s currently at 2.9% year over year. That’s higher than the Fed’s 2% "price stability" target. of 2%. And the inflation rate has been accelerating rather than easing for the past four months.
False.