{"id":13,"date":"2026-05-26T14:42:42","date_gmt":"2026-05-26T14:42:42","guid":{"rendered":"https:\/\/officemovingamerica.com\/?p=13"},"modified":"2026-05-26T14:42:42","modified_gmt":"2026-05-26T14:42:42","slug":"is-trump-his-own-worst-enemy-on-the-economy-2","status":"publish","type":"post","link":"https:\/\/officemovingamerica.com\/?p=13","title":{"rendered":"Is Trump His Own Worst Enemy on the Economy?"},"content":{"rendered":"<div>\n<div>\n<p>President Donald Trump made it to the White House for a second time largely on promises to lick inflation and rev up the U.S. economy with deregulation, tax cuts and increased business investment.<\/p>\n<p>Read more <a href=\"https:\/\/officemovingamerica.com\/?p=9\">Is Trump His Own Worst Enemy on the Economy?<\/a><\/p>\n<\/div>\n<div>\n<p>And he has had <u>success<\/u>. Technology firms are investing billions in software and equipment to further their use of artificial intelligence, tax cuts brought fatter IRS refund checks to Americans this spring and businesses are pushing mergers as regulators appear more friendly.<\/p>\n<\/div>\n<div>\n<p>But inflation is the 800-pound gorilla in the room. Recent reports showed <u>consumer prices<\/u> rising in April at a 3.8% annual pace, the highest since 2023, while <u>wholesale costs<\/u> rose 6% in the month. That is the largest spike since 2022, when President Joe Biden was grappling with the effects of the COVID-19 pandemic.<\/p>\n<\/div>\n<div><\/div>\n<div>\n<p>It is often a mistake to place too much credit or blame for the economy on presidents \u2013 many external and international forces can affect what happens. But Trump\u2019s pursuit of a war with Iran and the resulting surge in energy costs \u2013 gasoline is now at $4.50 a gallon \u2013 were his own doing. And so were his sweeping import tariffs announced in April 2025, which sent $100 billion in added costs trickling down to consumers before most were struck down by courts.<\/p>\n<\/div>\n<div>\n<p>In other words, Trump\u2019s economy would be doing even better if it weren\u2019t for, well, Trump. Without those two moves, inflation would probably be closer to 2% (the Federal Reserve\u2019s official target) than 4%.<\/p>\n<\/div>\n<div>\n<p>The <u>official word<\/u> from the Fed is that the U.S. economy \u201chas been expanding at a solid pace.\u201d Gross domestic product rose 2% in the first quarter, which after a 0.5% bump in the fourth quarter is starting to form what economists like to call a trend. Even the labor market is showing some signs of improvement, with 115,000 jobs created in April, well above expectations. And the stock market has been hitting new highs. While <u>around 62%<\/u> of Americans own stock, that is concentrated heavily among those who earn $100,000 or more a year.<\/p>\n<\/div>\n<div>\n<p>Which brings us back to the price of eggs and the average consumer. While egg prices may currently be down, the cost of beef rose 2.7% in April, and fruits and vegetables were up 1.8%. Unlike gasoline, grocery prices don\u2019t seem to fall once they have risen.<\/p>\n<\/div>\n<div>\n<p>Then there is the cumulative effect of higher prices dating back more than five years, during which prices on many necessities have increased by 25% to 30%.<\/p>\n<\/div>\n<div><\/div>\n<div>\n<p>\u201cIf you go back to January of 2021 when inflation started to pick up, now I am poorer than I was before and even a little bit of inflation is a problem,\u201d says Dan North, senior economist for North America at Allianz Trade.<\/p>\n<\/div>\n<div>\n<p>Trump seems somewhat out of step with most consumers, who have a hard time seeing how oversized bets on artificial intelligence or a booming stock market help them with everyday concerns like the cost of groceries or health care.<\/p>\n<\/div>\n<div>\n<p>Asked recently whether he was concerned the war with Iran was affecting the finances of Americans, the president was adamant.<\/p>\n<\/div>\n<div>\n<p>\u201cI don\u2019t think about Americans\u2019 financial situation,\u201d Trump said. \u201cI don\u2019t think about anybody. I think about one thing \u2013 we cannot let Iran have a nuclear weapon. That\u2019s all.\u201d<\/p>\n<\/div>\n<div>\n<p>The problem is Americans seem more concerned with their pocketbooks than Trump is.<\/p>\n<\/div>\n<div><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>President Trump can claim some success on the economy, but his decisions have also spurred a spike in inflation.<\/p>\n","protected":false},"author":1,"featured_media":12,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[5,4,6,8,7],"class_list":["post-13","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-news-decision-points","tag-donald-trump","tag-economy","tag-inflation","tag-sign-in-to-manage-your-newsletters","tag-tariffs"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Is Trump His Own Worst Enemy on the Economy? - Office Moving America<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/officemovingamerica.com\/?p=13\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is Trump His Own Worst Enemy on the Economy? 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