The U.S. economy is finally digging out from the mess created by President Joe Biden’s spending spree and Federal Reserve chief Jerome Powell’s inflationary monetary policy.
It’s not just that inflation—the pace of price increases—is slowing. Many prices are actually falling, fulfilling a campaign promise of President Donald Trump.
“Starting on day one, we will end inflation and make America affordable again, to bring down the prices of all goods,” President Trump said at an August 2024 rally in Bozeman, Montana.
Last month, core consumer prices rose by just 2.5 percent compared with 12 months earlier. That’s the lowest rate of core inflation since March 2021, when the painful Bidenflation era was just beginning.