Today’s report showing that the pace of price increases is picking up again is a reminder that even if the recent wave of inflation was caused by President Biden, it’s now President Trump’s problem. So if Trump is serious about fulfilling his campaign pledge to “defeat inflation,” he needs to look at the root cause of the recent price spiral. Federal overspending, high taxes, and excessive regulation are all part of it, but the heart of the problem is our fiat money system.