U.S. will finish the year with 3% GDP growth
U.S. Treasury Secretary Scott Bessent speaks onstage during the New York Times DealBook Summit 2025 held at Jazz at Lincoln Center on December 03, 2025 in New York City.
David Dee Delgado | Getty Images Entertainment | Getty Images
The latest report on inflation, delayed by the government shutdown, showed consumer prices rose 3% year-on-year in September, including a 3.1% increase in the cost of food at home.
As rising prices continue to impact consumers, President Donald Trump pushed back on the idea that Americans are struggling financially.
“The word ‘affordability’ is a Democrat scam,” Trump said at Tuesday’s cabinet meeting. “The word ‘affordability’ is a Democrat hoax.”
Recently, voters have expressed disappointment with the way Trump is handling the economy. Nearly two-thirds of registered voters say the Trump administration is falling short on the economy and the cost of living. NBC News’ latest poll.
Asked about Trump’s comments on Sunday, Bessent said the administration was dealing with inflation problems left over from the Biden administration and pointed out that media coverage is the source of Americans’ view of the economy.
“The American people don’t know how well they have it,” he said. “Now, Democrats have created scarcity, whether it’s energy or over-regulation, now we’re seeing this affordability problem, and I think we’ll be moving toward prosperity next year.”
