U.S. President Donald Trump speaks to members of the media on board Air Force One en route to Joint Base Andrews, U.S., November 2, 2025. REUTERS/Elizabeth Frantz
New York Times reporter Peter Baker couldn't help but notice in the recently released transcript of Donald Trump's full "60 Minutes" interview that the president seemed very confused about inflation and the economy.
Among Trump's claims on Sunday was that he inherited the highest inflation that the United States has ever seen.
"But my second term is blowing it away. It's blowing it away when you look at the numbers, the stock market, the jobs. Look at the job numbers, how good they've been. And, again, I have costs down. Remember, Biden gave me the worst inflation rate in the history of our country--" Trump told Norah O'Donnell.
The highest inflation in U.S. history happened during World War I between 1917 to 1920, when inflation eclipsed 15%, Investopedia recalled.
Baker noted that inflation is a little closer to 3% as of September. One year ago, in September 2024, inflation was 2.4%.
Later in the interview, Baker noted that Trump claimed his tariffs "haven't led to inflation." In fact, according to Trump, "We have no inflation. We have no inflation. Biden had inflation, and he didn't have tariffs. He didn't use tariffs."
"Trump to CBS: 'I inherited the worst inflation in the history of our country.' Inflation when Trump took office: 3 percent Trump: 'We have no inflation.' Inflation now: 3 percent," Baker said.
Leave a Comment