{"id":407400,"date":"2026-01-13T23:31:09","date_gmt":"2026-01-13T23:31:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/407400\/"},"modified":"2026-01-13T23:31:09","modified_gmt":"2026-01-13T23:31:09","slug":"trump-declares-economic-boom-as-inflation-persists","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/407400\/","title":{"rendered":"Trump declares \u2018economic boom\u2019 as inflation persists"},"content":{"rendered":"

President Donald Trump visited the swing state of Michigan on Tuesday to deliver a speech before the Detroit Economic Club, a nonpartisan, members-only organization.\u00a0He falsely declared \u201cinflation is defeated\u201d and ranted his way through a familiar list of grievances \u2014 election fraud, transgender athletes and Republican defectors in Congress among them.\u00a0<\/p>\n

The speech was a crucial opportunity for the Trump administration, which has been trying to get the president to focus on affordability \u2014\u00a0a word he has repeatedly derided as a \u201cDemocrat hoax\u201d \u2014 in swing states\u00a0ahead of midterm elections. Those efforts have been largely unsuccessful so far: In Pennsylvania last month, Trump delivered a meandering speech<\/a> in which he again called affordability a \u201choax\u201d and attacked former President Joe Biden using vulgarity.<\/p>\n

But in Trump\u2019s telling on Tuesday, the economy is his administration\u2019s latest success story.\u00a0<\/p>\n

\u201cThe results are in, and the Trump economic boom has officially begun,\u201d he said. In a speech that lasted more than an hour and regularly went off script, Trump bragged about \u201calmost no inflation and super high growth\u201d and said that grocery prices and rents are down.<\/p>\n

But federal data released Tuesday shows<\/a> that inflation has remained almost unchanged, at 2.7% last month, with prices for food and housing on the rise. The GDP, on the other hand<\/a>, was up by 4.3% in the third quarter of 2025, indicating economic growth<\/a>.\u00a0<\/p>\n

Trump also claimed that tariffs \u201care making money for Michigan,\u201d insisting \u201cthey are paid by middlemen.\u201d But tariffs are ultimately passed onto consumers, and the Yale Budget Lab estimates<\/a> that Trump\u2019s tariffs are costing the average American household $1,700 annually. He also said gasoline is \u201cunder $2 in many places\u201d \u2014 but the national average is $2.80, according to AAA<\/a>, and the lowest appears to be $2.20 in Oklahoma. (In Michigan, the state average is almost $2.90, according to the data<\/a>.)\u00a0<\/p>\n

The economy remains a key issue for Michigan voters, who have complained of rising prices amid Trump\u2019s aggressive tariff campaign, according to local polling<\/a>. The poll, conducted by The Detroit News and local NBC affiliate WDIV, found that almost half of respondents<\/a> \u2014\u00a048% \u2014\u00a0said Trump\u2019s economic policies have made the economy weaker overall. More than 60% said their household costs have gone up in the past year.\u00a0<\/p>\n

The state, which narrowly voted for Trump\u2019s re-election amid his promises to combat inflation, will be a focal point for the GOP in November, as Republicans seek to maintain control of two swing U.S. House districts they won in 2024.\u00a0<\/p>\n

The president often gets defensive when speaking on the economy. He told Politico last month<\/a> he would grade the economy \u201can A-plus-plus-plus-plus-plus,\u201d and insisted that \u201cprices are coming down,\u201d despite evidence to the contrary. And in a breathless, defiant pre-Christmas address delivered from the White House<\/a>, Trump blamed the cost-of-living crisis on Democrats and made baseless claims about the cost of gasoline and the status of inflation.\u00a0<\/p>\n

The blame game continued Tuesday, as the president faulted Democrats and his predecessor \u2014\u00a0whom he referred to as \u201csleepy Joe Biden\u201d \u2014\u00a0for Americans\u2019 economic woes.\u00a0<\/p>\n

Following the speech, the Democratic National Committee cast Trump\u2019s economy as \u201ca disaster.\u201d<\/p>\n

\tRecommended<\/p>\n

\"MS<\/p>\n

\u00a9\u00a02026 Versant Media, LLC<\/p>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"President Donald Trump visited the swing state of Michigan on Tuesday to deliver a speech before the Detroit…\n","protected":false},"author":2,"featured_media":407401,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[45,49,48,46],"class_list":{"0":"post-407400","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-ca","10":"tag-canada","11":"tag-economy"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/407400","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=407400"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/407400\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/407401"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=407400"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=407400"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=407400"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}