(Washington) President Donald Trump tried, Wednesday evening, from the White House, to convince Americans that they were wrong to worry about the American economy, assuring that all the problems were being resolved.
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“Eleven months ago, I inherited a catastrophic situation, and I am in the process of putting it right,” Donald Trump said.
His comments come at a crucial moment, as he tries to restore his constantly eroding image. Polls show that most American adults are unhappy with his handling of the economy, with inflation having risen sharply following tariff-induced price hikes and a slowdown in hiring.
Surrounded by two Christmas trees and a portrait of George Washington in the background, in the Diplomatic Room of the White House, the US president sought to blame concerns about inflation on his predecessor, Joe Biden.
In 2026, Mr. Trump and his party will face a referendum on their leadership, as the country prepares for midterm elections that will determine the makeup of the House of Representatives and the Senate.
The White House speech offered Mr. Trump an opportunity to try to regain ground after Republican defeats in this year’s elections, which raised questions about the strength of his coalition.
The president presented charts to demonstrate that the economy is on an upward trajectory.
But the complex calculations, once assimilated by the public, paint a more complex picture, that of an economy that is certainly stable, but which inspires little confidence.
The stock market is up, gas prices are down, and technology companies are investing heavily in the development of artificial intelligence.
However, inflation, which had begun to decline after reaching a 40-year high in 2022 under President Joe Biden, accelerated again following Donald Trump’s announcement of tariffs in April.
The consumer price index is increasing at an annual rate of 3%, compared to 2.3% in April.
This tightening of purchasing power is also due to a sluggish labor market. Since “Liberation Day” in April, marked by Mr. Trump’s announcement of import customs duties which he then suspended, then readjusted a few months later, monthly job creations have only averaged 17,000.
The unemployment rate rose from 4% in January to 4.6%.
The tenant of the White House also announced the sending of a bonus of US$1,776 to American troops for Christmas, suggesting that customs duties financed these payments.
Donald Trump explained that 1.45 million military personnel would receive this “war bonus” before Christmas.
“The checks are already on the way,” he said.
