It’s one of the most amusing aspects of MRC Business’s day-to-day routine when staff watch liberal media talking heads forced to eat crow over their blind adamancy that President Donald Trump was going to wreck the economy. CNBC senior economics reporter Steve Liesman is the latest to be found wearing the clown nose.

The Bureau of Labor Statistics released its latest report on consumer prices finding that inflation had risen noticeably less than expected on a month-to-month basis in May by 0.1 percent against economists’ expectations of a 0.2 percent increase. Core inflation — which excludes volatile food and energy prices — was even more telling, having risen 0.1 percent on a month-to-month basis and 2.8 percent on the year-to-year, also upending expectations by experts of a 0.3 percent and 2.9 percent increase respectively.

Liesman summarized during the June 11 edition of CNBC’s Squawk Box that “Not only did we get a decline in inflation expectations earlier this week from the important New York Fed report,” he did “not see broader impacts on inflation from the tariffs.”

Of course, he was still clinging to the idea that the Trump price spikes are just around the corner, but previous jabs he made at Trump’s economic policies on MSNBC now make him look utterly foolish. During the April 4 edition of MSNBC’s All In with Chris Hayes, Liesman mocked Trump for his trade war, which he claimed was the equivalent of intentionally crashing the Titanic:

And I guess another way to think about it is this. You know, the Titanic hit an iceberg by accident. This is the equivalent of steering the Titanic towards the iceberg … The adults have left the room.

How now, brown cow? 

Adding to Liesman’s optics obliteration is the recent news that a trade deal between Trump and geopolitical foe China has been reached. "Our deal with China is done, subject to final approval with President Xi and me," Trump wrote in a June 11 Truth Social post. "Full magnets, and any necessary rare earths, will be supplied, up front, by China.” Not bad for a situation where “adults have left the room,” eh Liesman?

Also, the New York Federal Reserve report that Liesman alluded to in his June 11 CNBC appearance is another blow to his image. For all the Liesman bluster about Trump crashing the Titanic, the New York Fed noted June 9 that “households’ inflation expectations declined at the short-, medium-, and longer-term horizons.” In addition, wrote the Fed, “Consumers’ recent pessimism about the labor market eased somewhat, while consumer debt delinquency expectations and expectations about one’s household financial situation improved slightly.” 

There’s so much crow to be found here that Liesman will probably have to make two trips to finish eating it all.