Trump says markets hit record highs as Dow tops 50,000, claims prices are 'way down'
WASHINGTON, DC: President Donald Trump weighed in on the US economy during a press gaggle aboard Air Force One on Friday, February 6, while en route to Palm Beach, Florida. He highlighted historic stock market gains and falling consumer prices, framing both as signs of his administration’s early economic success.
Trump touts record-breaking markets as a measure of success
Trump pointed to the Dow topping 50,000 for the first time, saying the milestone “broke a number that they thought was going to be impossible to break.” He claimed the achievement came in the first year of his term, “about three years ahead of schedule,” and described the trend as “going good.”
He framed the market gains as proof of strong economic performance under his administration, presenting the record highs as an achievement that benefitted Americans nationwide.
Prices are 'way down,' easing affordability concerns
Trump emphasized that consumer prices, particularly for energy and groceries, have fallen significantly. “Prices are way down,” he said, suggesting that Americans are starting to see relief from previous inflation.
He argued that Democrats, who had previously highlighted affordability issues, are no longer focusing on the topic because prices have declined, portraying the drop as evidence of his administration’s impact on the economy.
Trump blames Biden for inflation, claims credit for reversal
Trump placed responsibility for prior inflation on former President Joe Biden, calling it a “disaster” and noting it reached the highest levels in 48 years. He said his administration has “broken the Biden disaster” and credited policy measures and energy decisions for bringing prices down.
He has reiterated these points in media appearances, including a Fox News interview with Sean Hannity, where he again emphasized that prices are “way down” and described his handling of affordability as “doing a great job,” despite earlier calling the term a Democratic “hoax.”
Oil prices also fell in recent days following Trump’s comments about a potential surge in supply, including claims that Venezuela could deliver as much as 50 million barrels of crude to the United States.
