Trump takes over solid economy, vows to fix it

Trump inherits a solid economy as the stunning rebound from the Covid pandemic wasn’t enough to keep a Democrat in the White House.

The last four years’ stunning rebound from the pandemic wasn’t enough to keep a Democrat in the White House. Now Donald Trump is moving back in with many economic winds at his back and a pocketbook-focused electorate watching to see what he’ll do with them.

The economy the president-elect inherits isn’t perfect, but he has eagerly positioned himself as the solution to its flaws.

Unavoidable expenses like housing, child care, health care and more remain punishingly high for countless households, whose frustrations Trump successfully channeled during the campaign — when he hosted rallies under enormous “Trump will fix it!” signs. He has promised to slash energy costs in half within his first year and free up more housing by ejecting millions of immigrants from the country.

However, the costs of many daily goods and services have already slowed sharply while workers’ incomes, on average, have more than made up for the hikes. Since inflation peaked in June 2022 at 9.1%, the annual pace of consumer price increases is now less than 3%, where it has hovered for months just above the Federal Reserve’s 2% target rate.

But December’s 2.9% reading is the latest sign that the last mile of the inflation road can be bumpy.

https://www.nbcnews.com/business/economy/economy-starts-year-solid-shape-now-trumps-hands-rcna187797

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