Three weeks into President Trump's term, he has moderated his initial promising projections on reducing consumer prices. While he once pledged immediate cuts to costs, Trump now emphasizes the influence of global economic forces on pricing. He aims to reset expectations while pursuing policies like tariffs and tax cuts. Advisers argue that expanding energy production and tax reforms could eventually lead to lower costs, despite concerns from economists regarding potential inflation increases. Trump suggests these measures will enhance overall wealth in America, benefiting consumers indirectly, although he refrained from providing timelines for relief from high prices.
President Trump promised voters that, if elected, he would enact policies to lower prices immediately upon taking office. However, he is now downplaying quick results.
Trump's advisers believe that increases in energy production and regulatory rollbacks will help reduce costs, although economists warn these could worsen inflation.
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