BlockBeats News, June 30th - After failing to pressure the Federal Reserve, Trump has shifted the focus of his inflation battle to gasoline retailers. In a post on Truth Social, he stated that the price of crude oil has dropped to $68 per barrel and is continuing to decline. He demanded that gas stations reduce prices immediately, bluntly stating that if they do not, "big problems are waiting," and even requested the price of oil to be pushed down to $2.5 per gallon. According to AAA data, the current average price of regular gasoline is $3.85 per gallon, down from $4.36 a month ago but still higher than the $3.19 per gallon during the same period last year.

Data shows that as of May, the US inflation rate was 4.2%, well above the Federal Reserve's 2% target. Gasoline prices have seen a 12-month increase of 40.5%, while fuel prices have surged by 58.9%, mainly due to the US-Iran conflict temporarily disrupting the Middle East oil supply route. Previously, Trump had pressured former Fed Chair Powell and Governor Lisa Cook continuously in an attempt to push for rate cuts, but the new Chair, Powell, did not cut rates in his first monetary policy meeting.

It is worth noting that on Monday, the Supreme Court ruled 5-4 that Trump's previous attempt to dismiss Cook was illegal due to the failure to follow due process, further solidifying the independence of the Federal Reserve. This was seen as another blow to White House efforts to intervene in market pricing.