The Trump administration hasn’t tried to lower inflation. The current administration has done everything in its power to increase inflation. Tariffs and a Middle Eastern war are two of the biggest drivers of inflation, and they were both Trump’s ideas.
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When asked why they have not been able to lower inflation, as Trump promised, the president and his cabinet have consistently pivoted to blaming Joe Biden.
Polling shows that voters have been tired of this excuse for more than a year, but the Trump crew keeps trotting it out there.
With roughly two weeks until midterm election day, it looks like even some of the tamest members of the press are tiring of the blame Biden excuse.
Kristen Welker asked Bessent if Trump’s policies are driving up inflation, and he answered:
Kristen, we have an energy shock. And if you look underneath the hood in the numbers, core inflation has been very flat before this month, and it’d been down for four months in a row. So core inflation is down. The food is below the Fed’s targets. The prescription drugs have had the biggest decrease in history. Rents are down. So this is an energy shock. We will get to the other side of the Iran conflict, and those prices will come down.
The Meet The Press host followed up, “Well, core inflation doesn’t take energy, for example, into account or food into account. And in fact the price of gas is up 44%, Mr. Secretary, since the start of the war with Iran. What do you say to voters right now who say they are struggling and they want change?”