A pair of analysts warned President Donald Trump on Thursday that his comments about inflation could come back to haunt him.
Trump said during a press conference in the Oval Office that the U.S. has "ended Biden's inflation nightmare." The latest inflation reports appear to paint a different picture. The Producer Price Index, which measures inflation in businesses, surged by 0.9% in July compared to the expected 0.2%. That was the largest inflation spike in three years, according to the data. Economists told CBS News that the data show that price hikes for consumers are imminent.
"We had the worst inflation in our nation's history, and now our inflation is down to a perfect number, a beautiful number," Trump said.
Democratic analysts Jon Favreau and Dan Pfeiffer discussed the news conference on the latest episode of Pod Save America on YouTube.
"This is hanging the 'Mission Accomplished' banner on the aircraft carrier," Pfeiffer said, referring to the banner former President George W. Bush hung in 2003 to suggest that major military operations in Iraq were over.
The United States would not formally withdraw from Iraq until 2011.
Trump's comments also underscore another promise that he has not kept to his voters, according to Pfeiffer.
"It is worth remembering that the entire premise of Trump's victory for a large swath of voters was that he would lower prices," Pfeiffer continued. "And then he got into office and not only did he not focus on lowering prices any way, shape, or form, he then undertook a quite radical, quite aggressive approach to raise prices on people."
"Just incredible!" Favreau said.
Watch the entire segment below or by clicking here.