Inflation eased to a four-year low in April as the nascent impact of President Donald Trump’s sweeping tariffs were offset by their cost-dampening effects in a slowing economy. Overall consumer prices increased 2.

President Trump repeated his call for the Federal Reserve to cut interest rates after April's inflation report was cooler than expected.

Recent inflation data shows a moderate increase, yet economists warn that Trump's tariffs could still impact the U.S. economy. With the Consumer Price Index rising by 0.2% in April, the Federal Reserve may pause interest rate cuts.