P resident Donald Trump responded to the acceleration of consumer price inflation with a renewal of his demand for the Federal Reserve to cut interest rates immediately.

Trump could order the Treasury Department to properly define a "capital gain" as any increase in the value of a stock or property AFTER INFLATION ADJUSTING from the time of the purchase of the asset to the time of the sale. In that case, the real rate of tax on capital gains would fall, and investment would rise. And tax revenues would RISE!

Consumer prices rose at a quicker rate in June, breaking a months-long streak of cooling inflation, the Labor Department said on Tuesday. Why it matters: The data will likely concern economic policymakers,

Inflation rose last month to its highest level since February as President Donald Trump's sweeping tariffs are pushing up the cost of a range of goods, including furniture, clothing, and large appliances.

So, the Trump Administration is arguing there is no real inflation threat, and the Federal Reserve should cut interest rates. The Fed's federal funds rate is a 4.25% to 4.5%.

The Indian rupee is likely to open weaker on Monday after fresh tariff threats from U.S. President Donald Trump intensified concerns over trade tensions, sparking risk aversion and weighing on Asian currencies.