In a recent interview aired on Fox News, President Donald Trump asserted that the U.S. economy remains strong, dismissing polls that indicate widespread economic distress among Americans as "fake." During the interview, Trump characterized negative reports on the economy as a "con job" perpetrated by the Democrats. He claimed that Democrats manipulate major news networks to disseminate a narrative that the economy is failing, stating, "Every anchor does exactly what they say." Trump specifically referenced the term "manufactured economy," suggesting that this phrase was strategically introduced by the media.
The interview came on the heels of the government's final estimate indicating that the U.S. economy had grown at an annualized rate of 3.8% in the second quarter, surpassing previous estimates of 3.3% and 3%. However, consumer prices saw a 3% increase in September, marking the highest level of inflation since January, according to the latest government data. This inflation figure, while below economists' expectations, still raised concerns about the rising cost of living.
Trump defended his administration's economic policies, claiming that costs are significantly lower across various sectors. "Costs are way down," he stated, predicting that gasoline prices could soon drop to around $2 per gallon. Currently, the average price for a gallon of gasoline is $3.072, a slight decrease from $3.083 a year ago, as reported by AAA. Trump contrasted this with prices during President Biden’s administration, stating, "Gasoline was at $4.50 under Biden, under sleepy Joe."
During the interview, Trump also addressed the rollout of a new 50-year mortgage option introduced by his administration, which has faced backlash on social media. Critics argue that the extended repayment period would lead to higher interest payments over the life of the loan. Fox News host Laura Ingraham suggested that such long-term loans might serve as a giveaway to banks and unnecessarily prolong homeownership for Americans. In response, Trump maintained that the longer repayment period would simply result in lower monthly payments, stating, "You pay it over a longer period of time. It might help a little bit." He emphasized that despite rising interest rates, the economy is "the strongest it's ever been."
Trump also faced questions regarding the demolition of the East Wing of the White House, which is being replaced by a new ballroom. He described the East Wing as a "beautiful, little, tiny structure" that had undergone numerous renovations that compromised its integrity. "It looked like hell," Trump remarked, claiming that he could have built the ballroom around the East Wing but chose not to compromise on the quality of the new venue. He defended the decision, explaining that the East Wing's renovations had diminished its historical significance and that the new ballroom would be one of the greatest in the world.
As the economy continues to be a focal point in national discussions, Trump's remarks reflect a confident stance on his administration's economic policies, despite the contrasting realities faced by many Americans.
