President Donald Trump on Wednesday revealed his long awaited plan to battle inflation and cut prices for consumers now that he has returned to the White House equipped with a Republican-controlled Congress.
The president’s economic plan was laid out via a social media post on his Truth Social platform, where he blasted the Federal Reserve and Chairman Jerome Powell. It comes after Trump spent months on the campaign trail making appealing promises to bring everyday prices down for Americans.
“Because Jay Powell and the Fed failed to stop the problem they created with Inflation, I will do it by unleashing American Energy production, slashing Regulation, rebalancing International Trade, and reigniting American Manufacturing, but I will do much more than stopping Inflation, I will make our Country financially, and otherwise, powerful again!”
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Trump also seized the opportunity to continue his battle against so-called “woke” initiatives, which he claimed resulted in soaring inflation.
“The Fed has done a terrible job on Bank Regulation,” Trump wrote. “Treasury is going to lead the effort to cut unnecessary Regulation, and will unleash lending for all American people and businesses. If the Fed had spent less time on DEI, gender ideology, ‘green’ energy, and fake climate change, Inflation would never have been a problem. Instead, we suffered from the worst Inflation in the History of our Country!”
Trump has taken heat in recent days for failing to so far deliver on his key campaign promises related to inflation.