Gladness Gideon
U.S. President Donald Trump has credited the “good parts” of the current U.S. economy to his own administration’s policies while placing responsibility for the nation’s economic challenges squarely on President Joe Biden.
Speaking in a Sunday interview on NBC’s Meet the Press, Trump insisted that his economic legacy remains intact, claiming credit for curbing inflation and cutting costs, despite recent economic headwinds. “I think the good parts are the Trump economy and the bad parts are the Biden economy because he’s done a terrible job,” he said.
The Republican frontrunner also acknowledged his own role in shaping the present economic environment but emphasized that Biden, whom he accuses of mishandling the economy, bears greater responsibility for current struggles. “Ultimately, I take responsibility for everything,” Trump remarked. “But I’ve only just been here for a little more than three months.”
His remarks come amid mixed economic signals. While inflation in March stood at 2.3 percent — just above the Federal Reserve’s 2 percent target — unemployment remains at a manageable 4.2 percent. However, concerns over slowing growth and mounting inflation have led the Federal Reserve and market analysts to revise their economic outlooks .
On trade, Trump defended his administration’s controversial tariffs on China, which soared to 145 percent, effectively stalling trade between the two countries. “We’ve essentially cut off trade relationships by putting that much of a tariff on,” he stated. “That’s okay… That means that we’re not losing.”
READ ALSO: Biden Slams Trump’s Reforms, Warns of Social Security Crisis
He claimed that China is now eager to negotiate and suggested that tariff rates could eventually be lowered. “They want to make a deal very badly,” he added.
The former president also reignited criticism of Federal Reserve Chair Jerome Powell — whom he appointed in 2018 — urging the Fed to cut interest rates. “Now is the perfect time,” Trump said, advocating for a more aggressive monetary policy to boost growth. Despite past threats to remove Powell from office, Trump told NBC he intends to wait until Powell’s term expires in May 2026 before naming a replacement.
Federal Reserve officials are expected to maintain current interest rates — now between 4.25 and 4.50 percent — at their upcoming policy meeting, as they monitor the impact of trade disruptions and inflation trends.
Trump’s comments add to the growing political debate over the state of the U.S. economy, with both parties seeking to shape the narrative ahead of the 2024 presidential election.