During his 2024 presidential campaign, Donald Trump made bold economic promises aimed at addressing what was one of the top concerns for voters. “Starting on Day 1, we will end inflation and make America affordable again,” he declared at an August campaign event.
Trump’s sweeping economic pledges were widely seen as a significant factor in his electoral success. However, since taking office, he has shifted his stance on how quickly his plans will yield results.
For instance, as CNBC reported, inflation remains a pressing issue:
The consumer price index, which tracks the cost of goods and services across the U.S. economy, rose by a seasonally adjusted 0.5% in the past month, bringing the annual inflation rate to 3%, according to the Bureau of Labor Statistics. These figures surpassed Dow Jones estimates, which had projected monthly inflation at 0.3% and an annual rate of 2.9%. Additionally, the annual rate showed a 0.1 percentage point increase from December.
Following the release of this report, Trump was quick to blame his predecessor. “BIDEN INFLATION UP!” he posted on Truth Social.
While various factors contribute to rising prices, experts argue that inflation cannot be attributed solely to either Trump or former President Joe Biden. However, analysts have suggested that Trump’s proposed economic policies—such as tax cuts and tariffs—could potentially worsen inflation.
Trump began tempering expectations regarding his campaign trail promises soon after securing victory. In a late November interview with Time magazine, he acknowledged the difficulty of reducing costs. “I would like to bring down the price of groceries,” he stated. “But it’s hard to bring things down once they’re up. You know, it’s very hard. But I think that they will.”
Since returning to office, Trump’s administration has also sought to adjust public expectations. Vice President JD Vance remarked in an interview with CBS News last month that addressing grocery prices would require patience. “It’s going to take a little bit of time,” he said.
“Rome wasn’t built in a day,” Vance added.
White House press secretary Karoline Leavitt also echoed this sentiment, telling reporters last week that the president is “doing everything he can” to lower high consumer prices in the U.S. However, when asked for a specific timeline and whether Americans would be willing to wait for the administration’s measures to take effect, she admitted, “I don’t have a timeline.”
