President-elect Donald Trump expressed his concerns on Tuesday regarding the economic situation his team is inheriting from the Biden administration. Trump highlighted issues such as inflation and high interest rates, stating that the current conditions are challenging.
It is unclear whether Trump's remarks were directed at the rates set by the Federal Reserve or the bond market. Throughout his tenure, Trump has had disagreements with Jerome Powell, whom he appointed as the Fed chair.
Despite the Fed's efforts to lower rates starting in September, mortgage rates, which are influenced less by the Fed, have seen an increase in recent months.
Trump emphasized that inflation is currently at unprecedented levels. However, data shows that while the cost of living remains high, the rate of inflation has significantly decreased since reaching a four-decade high of 9.1% in mid-2022.
These statements from President-elect Trump shed light on the economic challenges that lie ahead and the importance of addressing issues such as inflation and interest rates to ensure a stable economic environment.
