President highlights growth, inflation drop and investment
President Donald Trump praised the state of the U.S. economy during an interview released Sunday, saying the country has already reached a strong economic footing under his leadership.
“I’d say we’re there now,” Trump told NBC News’ Tom Llamas. “I’m very proud of it.”
The president said gross domestic product has grown by 5.6% since he returned to office, pointing to economic momentum he says was achieved despite inheriting significant challenges. According to the Bureau of Economic Analysis, GDP growth reached 4.4% in the third quarter of last year.
Inflation and unemployment trends
Trump repeatedly blamed former President Joe Biden for what he described as an economic “mess,” particularly record-high inflation. Inflation peaked at 9.1% in June 2022, the highest level in more than four decades.
Since then, inflation has eased significantly. It stood at 3% in January 2025, the month Trump returned to office, after recording 2.7% in December. Food prices were up 2.5% year over year in January, while energy prices rose 1%.
The unemployment rate was 4.4% in December, after reaching 4% earlier last year. Joblessness has remained below 5% since September 2021, following the surge seen during the early months of the COVID-19 pandemic.
Public skepticism remains
Despite Trump’s optimistic assessment, public sentiment remains mixed. A recent NPR/PBS News/Marist survey found that 59% of respondents disapprove of the president’s handling of the economy, an increase from the previous month.
In response, Trump has traveled to key battleground states such as Pennsylvania, Michigan and Iowa to promote his economic record ahead of the midterm elections.
During the interview, Trump claimed gas prices in Iowa had dropped as low as $1.85 per gallon. However, AAA data shows the statewide average price of regular gasoline remains above $2.56 per gallon.
Looking ahead to 2026
Trump predicted that 2026 would outperform his first year back in office, citing increased domestic investment and industrial expansion.
“There are factories and plants and thousands of businesses being built all over the country,” he said, adding that recent conversations with Chinese President Xi Jinping reinforced his confidence in the U.S. economic outlook.
