President Donald Trump on Saturday sharply criticized economist and fund manager Peter Schiff in a social media post on Saturday, calling him a “loser,” a “jerk,” and a “Trump hater” after Schiff argued on a news segment that the cost of living continues to rise.
Schiff quickly responded, rejecting Trump’s characterization and challenging him to a public debate on the state of the U.S. economy.
What Happened
Trump’s post on Truth Social questioned why Fox had invited Schiff, describing him as someone “already proven to be wrong.”
Trump argued that Schiff’s view of rising consumer prices is incorrect, claiming instead that “they are coming substantially down,” and cited gasoline briefly hitting $1.99 a gallon in some states.
Schiff countered the remarks on X, saying Trump attacked him “for telling the Fox audience the truth about the rising cost of living,” adding that both former President** Joe Biden** and Trump’s first-term policies contributed to what he described as the “affordability crisis.”
In a series of follow-up posts, Schiff pushed back at Trump’s accusation of disloyalty, noting that he had endorsed Trump’s reelection in the past and defended him during periods of legal scrutiny.
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“If he really wants to make America great again, I’m here to help,” Schiff wrote.
He also escalated the dispute by calling for a direct policy confrontation.
“Since Pres. Trump called me a jerk and a loser… I challenge him, or his designee, to a debate on the U.S. economy and the efficacy of his policies,” Schiff said. “If I'm as wrong as he says I am, let him prove it.”
Schiff also mocked Trump’s criticism of his earlier comments, suggesting the president should rename his platform to “Lie Social.”
The exchange adds a new flashpoint to long-running disagreements between Trump and some conservative-leaning economic commentators over inflation, fiscal policy, and the direction of the U.S. economy.
Trump, meanwhile, has continued to stress that prices have fallen since he took office, using gasoline costs as his primary example. No further response from Trump had been posted at the time Schiff issued his debate challenge.
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