Donald Trump held another news conference on Thursday at his New Jersey golf club, marking the second time he has addressed the press within just two weeks.
During this event, the former president shared various claims about the economy and made personal attacks against Vice President Kamala Harris, intertwining his comments with inaccuracies.
Specifically, he alleged, "as a result of Kamala’s inflation, price hikes have cost the typical household a total of $28,000."
But this figure far exceeds independent estimates, casting doubt on Trump's economic assertions.
According to Moody’s Analytics, the actual cost of price increases to the typical U.S. household over the past two years stands at about $8,500 annually, or about $709 per month, which is significantly lower than Trump's claim.
While prices surged during the Biden administration, growth was already on the rise as the economy reopened from COVID-19, continuing well after Trump exited office.
For context, the economy expanded by 5.8% during Biden's first year, which was faster than any annual growth seen during Trump's tenure.
Trump’s portrayal of mortgage rates also drew scrutiny, as he stated they were around 2% when he left office.
The historically low rates were part of the economic conditions caused by the pandemic, which drove the Federal Reserve to reduce its key rate to practically zero.
Similarly, he noted gas prices hitting $1.87 per gallon; this was largely due to the reduction of driving activities...
Thailand's Ministry of Digital Economy and Society (DES) has issued an alert regarding the spread of misinformation about a purported hybrid of Covid-19 and human metapneumovirus (hMPV) in China, ...