Washington – Two months ago, in its first network television interview after the election, Donald Trump said that he owes Americans’ anger on immigration and inflation to win his victory, especially on the rising cost of groceries.
“When you buy apples, when you buy a bacon, when you buy eggs, they double the price in a short time,” he told NBC’s “Meat the Press.” And I based on it. Won an election. We are going to bring those prices down.
But in the first week of Trump at the White House, there was very little in his initial blitz of executive orders, which used to deal directly with the prices, besides directing federal agencies to “chase proper tasks”. He is taking steps to reduce energy costs, something that Trump hopes that the entire economy will have a wave effect. Otherwise, their focus has fallen down on immigration, which they have described as their “not” 1 point “immediately after taking oath of office.
“They all said that inflation number 1 was the issue. I said, “I disagree,” said Trump. “I also talked about inflation, but how many times can you say that the cost of an apple has doubled?”
Trump is banking on voters and is giving them passes and blamed former President Joe Biden for high prices. Republican’s comments show the reality that the presidents have almost no liver to quickly reduce inflation without causing collateral damage to other parts of the economy.
There is more that Trump can do on energy. He is emphasizing to reduce the rules and increase the amount of land available for drilling. He is trying to persuade domestic and foreign oil producers more by pumping his own profits to potentially sacrifice.
During a rally in Las Vegas on Saturday, Trump went to allow his Democratic preceding to increase prices under his watch, and promised to take care of the problem quickly.
“When I think of Biden, I think of disability and inflation,” said Trump.
In June 2022, inflation reached the peak of 9.1% annual rate in June 2022, during the problems of the supply chain worldwide after the economic shock of the Koronwirus epidemics. Overall, consumer values have fallen since then, but in recent months, in September, 2.4% in September to 2.9% in December, which are the latest figures available. Economists have warned that Trump’s plans for tariffs and tax cuts can cause new inflation pressure and increase interest rates.
Vice President JD Vance on Sunday defended the work of the White House, in an interview with CBS’s “Face the Nation”.
“Prices are going to come down, but it’s going to take some time, right?” He said. He said, “Rome was not built in a day.”
Away from addressing the shift relative to Trump may be an inauguration for Democrats, to say that he is not helping the working class voters, hopefully the argument party is to return to power in Washington Can offer.
Sen Chris Murphy, D-Con., Said that Trump preferred to distract people from inflation with the matter of connecting Greenland in the United States or seizing the Panama Canal.
He said, “This is Catnip and it stops paying attention to everyone’s real economic agenda, which has nothing to do with low cost and everything, which help in the crowd of Mar-e-Lago. To do the economy to manipulate, “he said.
Last week, during an interview on Fox News, host Scene Hanity struggled to focus on Trump to focus on the economy.
“Let me go to the economy,” Hannity said at one point. “I’m out of time.”
“The economy is going to do very well,” Trump insisted.
When Trump talked about inflation in the interview, he noted how low it was during his first term and insisted that if there were Presidents after the 2020 election, there was a global trend from high inflation epidemics. ,
It is not clear how Trump will persuade oil companies and abroad to increase production, they probably have to earn profits.
Energy Information Administration said that domestic oil production has increased at an annual rate of about 8.4% in the last two years to about 13.5 million barrels in October to about 13.5 million barrels in a day. Some trump colleagues suggest that additional 3 million barrels a day may increase.
Without severe changes in the global market, it will be difficult to get a lot of additional production in the same year. The International Energy Agency estimates that the oil supplied to the whole world will increase by 1.8 million barrels per day to 104.7 million barrels per day. He has also expressed opposition to climate-friend air and solar energy, which leads to more pressure on the US economy that they rely on fossil fuels.
EJ Antony, a research companion at a conservative think tank, a conservative think tank in Washington, stated that a possible growth in energy production under Trump would eventually flow through the economy as low prices.
“If you are going to bring down the cost of energy, then you are going to bring down the cost of all kinds of goods and services,” he said.
But there is a risk that some plans of Trump can be taken as a whole – the prices may not lower – prices. Excuseing migrants living in the United States illegally can deprive companies of low wage workers. The cost of tariffs, which are taxed tax on foreign imports, can be passed to consumers.
Trump said that his strategy eventually publicly pressurized the Federal Reserve to be pressurized to cut interest rates, saying in Davos, saying that he would “demand” lower rates from central banks. Fed considers your political freedom important to make a difficult choice to stabilize prices. Biden looked worthy of saving freedom, while Trump sees it as a problematic.
Fed increased its benchmark rates starting in 2022 and made it more expensive to borrow and was successful enough to reduce inflation pressure that he could trim rates at the end of last year. Trump believes that more and more oil production will put them in a position to tell the fed to what to do.
In the Oval Office asked if he hopes that Fed hopes to listen to him, Trump just said, “Yes.”