What did Donald Trump claim about the economy on 20 Jan 2025? "Next, I will direct all members of my cabinet to marshal…"
Donald Trump, President of the United States ·
Next, I will direct all members of my cabinet to marshal the vast powers at their disposal to defeat what was record inflation and rapidly bring down costs and prices.
Inflation under Biden peaked at 9.1 percent, the most since 1981, not a record. It ran at 14.8 percent in 1980 and 23.7 percent in 1920.
The Consumer Price Index rose 9.1 percent in the 12 months ending June 2022, the largest 12-month increase since the period ending November 1981 (Bureau of Labor Statistics, Consumer Price Index news release, July 13, 2022).
Claim vs. the record · Economy
Added
The claim
- Date
- Where
- Second inaugural address at the U.S. Capitol, Washington, D.C.
The record
Primary source (agency data)