The Federal Reserve's preferred inflation gauge, the Personal Consumption Expenditures index, showed on Friday that prices increased in August, rising 0.3%, and the annual rate moved up to 2.7%.

This data from the Commerce Department comes as the Federal Reserve tries to navigate the challenges of bringing inflation back down to their target of 2%, but also being mindful of what they see as a weakening job market.

Meanwhile, prices for some products could cost more, too—as President Trump says he plans to impose new tariffs on imported drugs and other products.

Gary Kaltbaum, President of Kaltbaum Capital Management and FOX Business Contributor, joins FOX Business’s Jacki DeAngelis to give his take on the latest inflation numbers, the President’s latest tariff push, and the recently announced TikTok deal.

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