rising by about 3 percent a year<\/a>, and that rate has accelerated slightly in the last year.\u201d<\/p>\nBut the White House continues to maintain that Trump is making \u201csubstantial progress\u201d in addressing cost-of-living issues, citing lower gas prices, declining mortgage rates and moderate growth in real wages.<\/p>\n
And nearly a year into his second term, the administration believes that many of the nation’s economic woes can still be attributed to Biden-era policies.<\/p>\n
\u201cPresident Trump and every member of his administration fully recognize how Joe Biden\u2019s generational inflation crisis left American families behind,” White House Spokesman Kush Desai told Newsweek. “Turning the page on the Biden disaster has been a Day One priority for the Trump administration, and everyone is doing their part to deliver economic relief for the American people, from driving gas prices down by unleashing American energy to securing landmark working-class tax cuts to signing historic drug pricing deals.\u201d<\/p>\n
Though Portes believes the strategy of touting its affordability successes will do little to sway the opinion of an increasingly price-conscious public.<\/p>\n
\u201cTrump is p***ing on his supporters\u2019 legs and telling them that it\u2019s raining,\u201d he said.\u00a0\u201cI doubt that\u2019s a winning strategy.\u201d<\/p>\n
What People Are Saying<\/strong><\/p>\nPresident Donald Trump said during his Pennsylvania rally: <\/strong>\u201cThey gave you high prices. They gave you the highest inflation in history. And we’re giving you\u2014we’re bringing those prices down rapidly. Lower prices, bigger paychecks. You’re getting lower prices, bigger paychecks. We’re getting inflation. We’re crushing it. And you’re getting much higher wages.\u201d<\/p>\nThe White House, in a press release on Tuesday:<\/strong> \u201cThe Trump Administration\u2019s whole-of-government effort will continue driving prices down, boosting take-home pay, and strengthening the economy so all Americans can feel relief.\u201d<\/p>\nSenator Bernie Sanders told CNN on Tuesday: <\/strong>\u201cIf this is an A+++++ economy, God help us if we ever get to a B or a C.\u201d<\/p>\nEconomist Claudia Sahm told Newsweek: <\/strong>“To get top marks, the economy would need to be firing on all cylinders for the vast majority of Americans. That’s not the case now. Only one in five families says they are better off financially than a year ago\u2014near an all-time low of a survey back to the 1960s. The macroeconomic data are not as downbeat, but it’s harder to find a job, wage growth has slowed, the unemployment rate has risen, and inflation remains elevated. That’s not worthy of top marks either. Telling people they are better off than they feel will be a hard sell, especially when President Trump’s signature policy of tariffs is raising prices.”<\/p>\nMoody\u2019s Chief Economist Mark Zandi wrote on LinkedIn: <\/strong>\u201cMany Americans are deeply unhappy with their financial situation, and with good reason. They are grappling with a severe affordability squeeze. Prices for many things, from groceries to car insurance, are high and continue to climb. Meanwhile, pay increases are slowing as job growth has stalled and unemployment is on the rise. Addressing the affordability squeeze will be challenging, but revisiting tariffs and immigration policy could help.\u201d<\/p>\nWhat Happens Next<\/strong><\/p>\nTuesday\u2019s rally in Pennsylvania kicked off a series of campaign-style events aimed at promoting Trump\u2019s economic agenda to voters ahead of next year’s midterm elections, according to Reuters and Axios.<\/p>\n
Update 12\/10\/25, 10:28 a.m. ET: This article was updated with comments from economist Claudia Sahm and the White House.<\/p>\n","protected":false},"excerpt":{"rendered":"President Donald Trump on Tuesday credited himself with overcoming the economic “disaster” left by his predecessor and gave…\n","protected":false},"author":3,"featured_media":438346,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[64,69,79,266,2175,14230,67,132,68],"class_list":{"0":"post-438345","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-donald-trump","10":"tag-economy","11":"tag-inflation","12":"tag-tariffs","13":"tag-u-s-economy","14":"tag-united-states","15":"tag-unitedstates","16":"tag-us"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115696578393656404","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/438345","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=438345"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/438345\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/438346"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=438345"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=438345"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=438345"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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