‘Inflation is back,’ Trump says. ‘I had nothing to do with it’

President Donald Trump campaigned and won on a promise to lower Americans’ cost of living. But inflation is heating up, and the president denies he has anything to do with it.

Trump and right-hand man Elon Musk sat down for an interview with Fox News’ Sean Hannity that aired Tuesday night, in which the two billionaires spoke about their relationship, the $10 million settlement Musk’s social media platform paid Trump, and inflation. 

At one point, when Musk claimed Trump inherited a $2 trillion deficit from the prior administration, the president agreed, adding, unprompted: “And inflation is back. I’m only here for two and a half weeks.”

“I had nothing to do with it,” Trump continued. “They spent money like nobody has ever spent.”  

Read more: https://fortune.com/2025/02/19/inflation-trump-blames-biden-musk-prices/