Speaking to a crowd in Pennsylvania, the president highlighted his administration’s efforts to lower the cost of living nationwide.
MOUNT POCONO, Penn.—President Donald Trump told an energetic crowd packed with thousands of supporters on Dec. 9 that his administration’s policies are lowering the cost of living across the country.
“I have no higher priority than making America affordable again,” Trump said. “We’re bringing prices down rapidly.”
Top of mind for the president was the economy as he spoke in a quaint mountain town in northeastern Pennsylvania.
The boisterous crowd hung on every word, interacting with the president and spontaneously erupting into cheers of “USA” and “four more years” throughout the evening.
Trump described efforts underway to tame inflation, which accelerated during the pandemic and under his predecessor, President Joe Biden, to levels as high as 9.1 percent.
Prices are down for some groceries, including butter, eggs, fruit, pasta, and rice, among other items, he highlighted.
Inflation is averaging 2.7 percent, according to the U.S. Bureau of Labor Statistics.
After accounting for inflation, wages have increased about 4 percent this year, giving Americans an additional $700 in spending power, which is expected to increase to $1,200 annually, according to a statement from the White House.
Fuel prices fell to the lowest average in nearly 1,700 days at approximately $2.95 a gallon nationwide, Trump noted. A gallon of regular unleaded gasoline is below $2 per gallon in at least four states and lower than $3 per gallon in 36 states, according to automotive club AAA.
Declining mortgage rates are another positive sign, Trump noted, though he wants Federal Reserve Chair Jerome Powell to further lower interest rates.
“We have a lousy Fed chair,” Trump said. The president, since his return to the White House, has repeatedly criticized Powell and the Fed for not lowering rates faster, saying that inflation has been low.
The Fed chair has said his agency needs to monitor the impact of the president’s tariffs and make cautious, data-driven decisions to fulfill its dual mandate of keeping prices stable and maximizing employment.
