Trump claims victory on US economy despite many Americans’ cost of living concerns

The Guardian - World NewsCenter-LeftEN 4 min read 100% complete by Lauren ArataniJanuary 14, 2026 at 12:02 AM

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long article 4 min

In a speech to the Detroit Economic Club, Donald Trump claimed his first year back in office was the "greatest in history" for the US economy, citing stabilized inflation and strong GDP growth. This claim comes as many Americans express concerns about the rising cost of living, which Trump has recently begun to acknowledge. While inflation has decreased slightly since the fall, it remains above average levels, and GDP contracted in the first quarter of 2025. The labor market experienced volatility, with the unemployment rate reaching a four-year high, and Trump fired the official in charge of labor statistics after a report of stalled job growth. Trump also criticized the Federal Reserve for hindering the stock market by keeping interest rates high and continues to pressure the Fed to lower rates.

Key Entities & Roles

Key Player Opposition Context

Michigan 30% White House 40% Wall Street 40% Detroit Economic Club 40% Jerome Powell ×250% Federal Reserve 60% United States ×280% Donald Trump ×690%

Keywords

us economy 90% inflation 80% cost of living 80% federal reserve 70% gdp growth 70% labor market 60% interest rates 60% midterm elections 50% economic policy 50% unemployment rate 40%