Trump boasts about US economy – do his claims stack up?published at 14:53 GMT
Natalie Sherman
New York business reporter
Trump’s description of how the US economy is
doing will sound familiar to anyone who has been listening to the US president
over the past year.
But does it match reality?
Trump’s claims often contain some truth – while
being significantly exaggerated.
Take growth, which he said has been “extraordinarily high”.
Growth in the US has been stronger
than many analysts expected, coming in at an annual pace of 4.3% over the three
quarters to September.
But that’s not unprecedented – the US had stronger
growth during the same period in 2023. And the figures have been jumpy due in
part to sharp swings in trade.
He says “inflation is defeated” – and again, not
quite.
Overall, consumer prices jumped 2.7% over the 12
months to December. That’s down from 3% a year ago, when Trump took office, but
still above the Fed’s 2% target.
He’s also boasting about investment. Some
companies have increased production plans in the US, but there are plenty of
reasons to be sceptical about the claims.
