Donald Trump's actions to undo a deal and replace it in under 24 hours test the proposition that markets will accept his mix of uncertainty and reality TV drama.
now sees inflation as staying stubbornly elevated as it has become cautious about further interest rate cuts planned for next year.spate of tariff threats
But from the vantage of Trump world, the economy was already a mess. That’s because of inflation, which is currently 2.7%, and public dissatisfaction with Biden.“On day one, President Trump will get to work to launch the largest deregulatory agenda in history, cut taxes, and expedite permitting for drilling and fracking to lower energy costs and inflation for all Americans,” said Karoline Leavitt, the transition spokeswoman and incoming press secretary.
“I guess Elon Musk is making the decisions now, because Republicans in Congress are incapable of making decisions on their own,” DelBene said in an interview. “They just wait for someone to tell them what to do.”Trump’s ability to project strength and assure voters that he would reduce inflation helped him win November’s election.
In a speech this month at the Brookings Institution, Biden took stock of the roughly 3% economic growth and the inflation rate easing since its 2022 spike, saying Trump would come into office with a solid economy. But he also warned that the policies of Trump allies in the form of tariffs and deportations could unleash an “economic disaster.”The president never translated his investments in infrastructure, renewable energy and new factories into political momentum.
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