The Inflation Victory Lap Economists Said Trump Couldn’t Take
President Trump led off his State of the Union speech by addressing the state of the economy, highlighting the progress on bringing down inflation after the Biden-Powell surge that undermined America’s post-pandemic recovery.
“The Biden administration and its allies in Congress gave us the worst inflation in the history of our country, but in 12 months, my administration has driven core inflation down to the lowest level in more than five years, and in the last three months of 2025 it was down to 1.7 percent ,” Trump said.
The math here is pretty simple. The three-month annualized…
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