June 12, 2026

Trump's former economic advisor and failed Federal Reserve Board of Governors nominee Steven Moore gave Fox News a bit of reality when he blamed the awful inflation report on the high cost of oil and fertilizer because of the Iran war and the blockages in the Strait of Hormuz.

Moore joined host Martha MacCallum, who asked about the odious inflation report, which has been debilitating to the US economy and the public at large.

MARTHA: Didn't we did get a not attractive inflation right this morning let's put these numbers up for CPI all food prices up 3% all gas prices up 40% energy prices up 23 and a half.

And we can see those up on the board. What does that do?

MOORE: Well, so the overall inflation rate is now running at about 4.2 percent, that's pretty high. Not catastrophic, I mean you and I lived through the 1970s where inflation was high as 11 -12 percent.

But the fact is that this is all being driven by the high price of oil. By the way, also a lot of the fertilizer goes through the Strait of Hormuz too and that's driven up the price of food as well, so that's those are the two commodities that are rising really rapidly in prices oil and food products.

And you know that's what people buy. They pay gas at the pump, and they go to the grocery store, and they're paying these high prices for food.

Exactly.

Trump loyalists (who are almost the entire network and guests) on Fox News will claim this is a temporary blip designated to end a supposed 47-year war against Iran, and the country should be grateful for Trump's courage.

Oh, and everything was much worse under Biden.

Instead, Moore didn't gaslight the audience.

I must say I was kinda surprised.

(h/t @DemocraticWins)

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