President Trump campaigned on the promise to bring down the U.S. cost of living. That could be easier said than done.
The incoming president is set to inherit three months of rising inflation from his predecessor, the Consumer Price Index shows.
Consumer price growth ticked up in December, a sign President-elect Donald Trump will inherit the inflation issues that ... Even as the broader inflation index picked up, a measure that strips out volatile food and gas items climbed less than expected.
The Republican has promised strong growth, high tariffs, income tax cuts and booming oilfields. But despite the solid job market and low 4.1% unemployment rate, he has to contend with headwinds like inflation, a budget deficit, increased tensions over trade, the fallout from his plans to curtail immigration and a persistent wealth gap.
Trump will probably seek to ease inflation and lower prices by drilling for more oil, loosening regulations, reducing federal spending, experts say.
Despite the 2024 campaign rhetoric, Joe Biden is leaving Donald Trump a healthy economy that may be better off left alone.
The consumer price index, an inflation gauge, rose 2.9% on an annual basis in December 2024 on the back of higher food and energy prices.
After officially taking office earlier this week, President Donald Trump ordered “emergency price relief” for Americans on housing costs and other living expenses.
Traders should keep watch on US Retail Sales data on Thursday, as it could increase volatility to Bitcoin price.
That’s because President Donald Trump said on Tuesday that a new 10% across-the-board tariff on Chinese goods could be enacted as soon as February 1. Unlike Mexico and Canada, which largely avoid tariffs on exports to the United States because of the current USMCA trade agreement which Trump signed in his first term,
“This begins with confronting the economic chaos caused by the failed policies of the last administration,” Trump told the World Economic Forum on Thursday. Here are five economic forces that could shape the first year of Trump’s presidency: Whipping inflation is easier said than done.
If President Donald Trump follows through on his proposed tariff hikes, consumer inflation expectations could rise sharply, complicating the Federal Reserve's plan to cut interest rates. The alarm came from Goldman Sachs,