"Egg prices, a closely watched symbol of rising costs, soared 53% in January compared to a year ago,". "Beef prices climbed 5% and bacon prices jumped 6% in January compared to a year ago, data showed."
Lowering prices, President Trump ?
As some posters here post this phrase frequently, "We're waiting".
Originally Posted by VitaMan
The man doesn’t have a magic wand.
“A year ago” means 365 days ago. Trump was president for 11 days before January 31, 2025. He wasn’t even president at mid January. You’re criticizing Biden, not Trump.
His tariffs will indeed cause a step up in prices of some products. But they hadn’t taken effect as of the end of January. If he manages to lower federal spending that will restrain inflation.
Fed policy and other factors generally have a lot more influence on inflation than who’s president, although Biden was an exception with the American Rescue Plan. And admittedly Trump could be too if he somehow manages to control the Fed and implement all the tariffs he’s proposed. My bet is he won’t do all that. Looking at longer term bond yields and the price of gold, the market may disagree with me though.