House Speaker Mike Johnson (R-La.) on Wednesday defended President Trump’s “I love the inflation” comment amid concerns about skyrocketing energy costs resulting from the Iran war.
“It was totally out of context. You know what he was talking about,” the GOP leader told CNN’s Manu Raju at the Capitol.
Trump was asked by reporters during a signing ceremony in the Oval Office on Wednesday if he was concerned about the 0.5 percent spike in the consumer price index (CPI) in May alone. The CPI has risen by a total 4.2 percent in the last 12 months, according to data released by the Labor Department on Wednesday.
“No, I love it. The numbers were great,” the president responded.
Johnson, who was present at the White House signing ceremony, said the president is “laser-focused” on the U.S. economy.
“What he was saying is it’s going to be great to have that number and compare it to what comes next,” he told reporters. “When we get these situations resolved, that’ll be a fun thing to consider and compare.
“That’s what he was talking about. That was the context,” he continued, adding, “I was standing right behind him.”
Trump told The New York Post in a Wednesday interview that his inflation comment referred to his appreciation that the CPI was not higher.
“I love the inflation numbers because of what I’m talking about,” he told the outlet.
“The numbers are going to be phenomenal because what’s showing is that despite the fact that we’re in a war, the numbers are much lower than anticipated, and when we’re out of that war, the numbers will be at lower numbers than they were even before it started,” Trump continued.
The president’s comment comes as Republican lawmakers and strategists express worry that rising affordability concerns resulting from the Iran war could endanger their control in the House.
Rep. Richard Hudson (R-N.C.), the House GOP’s campaign chair, presented a confident front on Tuesday about the Republican Party’s election chances in November despite these economic anxieties.
“I’m very confident we’re going to hold the House,” Hudson said at an “Axios AM Live” event in Washington, D.C. “In fact, I think we’ll pick up seats.”