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Trump’s pitch to voters: “I love the inflation”

Why the president is telling Americans he doesn’t care about the economy.

President Donald Trump has spent years testing the boundaries of what politicians can say publicly.

During his first presidential campaign, he famously said that he could “stand in the middle of Fifth Avenue and shoot somebody” without losing supporters. It was an exaggeration. But captured something real about Trump’s political appeal — his willingness to say things publicly that most politicians wouldn’t dare.

Now, in his second term, Trump is once again testing the boundaries of what a president can say — by dismissing Americans’ concerns about rising prices of food, energy, travel, and other goods. He has repeatedly indicated that worries about inflation and household finances are secondary to broader goals, such as ending conflicts abroad.

Last month, it was “I don’t think about Americans’ financial situation.” Then, last week, he told reporters that “I love the inflation” after the Bureau of Labor Statistics released figures that showed prices had risen at the fastest rate in three years.

The 2026 economy could have been great — if not for Trump

The comments have drawn criticism from supporters and opponents alike, baffled some Republicans, and delighted many Democrats looking toward the quickly approaching 2026 midterm elections. They’ve also raised a broader question about Trump’s second term: Free from the constraints of another campaign, is the president governing with voters and his party in mind, or with his historical legacy at the forefront? And what happens politically when a president appears willing to openly deprioritize concerns about inflation and affordability?

Shelby Talcott, who covers the White House for Semafor, has spent months talking with administration officials and Trump allies about the president’s economic messaging and his priorities in a second term. She recently joined Today, Explained co-host Noel King to discuss what Trump’s comments reveal about his governing style, his political calculations, and how those around him are responding.

Below is an excerpt of their conversation, edited for length and clarity. There’s much more in the full podcast, so listen to Today, Explained wherever you get podcasts, including Apple Podcasts, Pandora, and Spotify.

President Trump has been talking about the economy a lot lately. Some of what he said has gotten a lot of attention.........

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