On Tuesday, former U.S. President Donald Trump boldly stated that his administration had successfully stopped inflation in its tracks, positioning the nation on the brink of achieving an ideal level of economic stability.
"Since January, we've brought inflation to a standstill," Trump declared, emphasizing that while there's still work to be done, inflation has been curtailed to a very favorable level. "Soon, it will reach a perfect level. We inherited the worst inflation," he remarked, pointing fingers at the previous Democratic administration under Joe Biden.
These comments were made during a cabinet meeting on December 2, 2025. Trump defended his administration's economic policies, claiming they were crucial in stabilizing prices and boosting the purchasing power of American families. He argued that the uncontrolled inflation was a legacy from Biden's term.
Trump also highlighted significant progress in slashing medication costs. "We're paying the lowest prices in the world. People doubted it could be done because they believed other countries wouldn't agree to it. But I made it happen," he asserted, referencing deals made with international pharmaceutical companies to set lower prices.
During the meeting, Trump boasted about the positive outcomes of his tax cuts, stressing that his administration had enacted "the largest tax cuts in U.S. history":
"While the Democrats in Congress are pushing for the biggest tax hike in history, I proudly signed the Great and Beautiful Tax Cut Bill, which includes zero taxes on tips, zero taxes on overtime, and zero taxes on social security," Trump elaborated.
He also addressed the decrease in gasoline prices, asserting that his government is committed to keeping fuel costs below $2 per gallon. "I believe we will hit $2 a gallon. We might even surpass that... and it would be easier if we weren't replenishing the Strategic National Reserves that Biden depleted before the elections," he commented.
Trump's remarks underscore his narrative that the United States has regained economic stability under his leadership, following what he described as "the worst inflationary crisis inherited" from the former Democratic administration.
FAQs on U.S. Inflation and Economic Policies
What measures did Trump's administration take to combat inflation?
Trump's administration implemented various economic policies focused on stabilizing prices and reducing inflation, including significant tax cuts and negotiating lower drug prices with international pharmaceutical companies.
How did Trump's administration affect gasoline prices?
Trump's administration aimed to maintain gasoline prices below $2 per gallon by managing the nation's resources and attempting to replenish the Strategic National Reserves.
In what way did Trump's tax policies differ from the Democrats' approach?
Trump's administration focused on reducing taxes, including on tips, overtime, and social security, contrasting with the Democrats' proposal for significant tax increases.