US President Donald Trump speaks to reporters before departing for Baltimore County, Maryland, on the South Lawn of the White House in Washington, D.C., US, October 6, 2026. REUTERS/Jonathan Ernst
President Donald Trump's latest claim about his economy immediately backfired Tuesday.
Speaking with reporters outside the White House, Trump said that his economic policies had produced a "strong dollar." Usually, that term means U.S. imports are cheaper, and exports to foreign countries are more expensive. But Trump was using the phrase to refer to a different problem altogether, one that several of his critics noted was completely irrelevant.
"We have a very strong dollar. That's because we're doing well. A strong dollar is good in many ways. I guess you could make the case that a strong dollar slows things down, but a strong dollar gives you a lot of life," Trump rambled. "And, you know what a strong dollar does? It gives you no inflation."
Trump's comments seem to belie the reality presented in his administration's economic data. In August, inflation jumped 3.4%, driven by the rising cost of gasoline, according to the Bureau of Labor Statistics. For comparison, the inflation rate was measured at 3%.
Trump's critics reacted to his comments on social media.
"Um... That's not how this works. That's not how any of this works," Pradheep Shankar, a National Review contributor, posted on X.
"Wharton should be investigated for fraud for giving this idiot a degree," Spencer Hakimian, founder of Tolou Capital Management, posted on X.
"Alright. Thanks," Ed Zitron, CEO of EZPR.com, posted on X.
Trump: We have a strong dollar because we are doing well. You know what it does? It gives you no inflation. https://t.co/9DmhYpVU3l
— Acyn (@Acyn) October 6, 2026