US President Donald Trump has his in an evening speech from the White House Economic policy defended. He referred, among other things, to increased wages in the construction industry, income from export tariffs and reduced prices for turkeys and eggs. He also announced a one-time payment of $1,776 for members of the US military; the total corresponds to the year of the US declaration of independence.
Trump once again made sure that food prices remain high on average Previous government under President Joe Biden responsible. Trump said he inherited “chaos” when he took office in January – and he is now fixing it. The United States are facing an “economic boom the likes of which the world has never seen.”
Trump also announced that he would soon appoint a new chairman US Federal Reserve Bank to appoint. He has long been dissatisfied with the current Fed chairman Jerome Powell because he is with him Interest rate cuts considers it too hesitant. Powell’s term ends in May 2026. His successor will be someone “who believes in significantly lower interest rates,” Trump said in his speech. He also wants to significantly reduce the mortgage payments for real estate.
“The costs are rising and rising”
The high inflation During Biden’s four years in office, Trump helped win the presidential election last year. But his tariff policies this year have created economic uncertainty around the world and sent prices further higher in the United States. Democratic Senate Minority Leader Chuck Schumer accused Trump of failing to keep his campaign promises. “He promised to cut costs from day one,” Schumer said. “And the costs go up and up and up.”
A Reuters/Ipsos poll on Tuesday showed that only a third of Americans support Trump Economic policy approve.
7.8 million Americans are unemployed
Also on Tuesday, the US Department of Labor published the Unemployment rate for November. This rose to a four-year high of 4.6 percent. That is 0.2 percentage points more than in September. The government did not provide any information for October due to the budget freeze.
The absolute number of unemployed rose to 7.8 million in November. In November 2024, under then-President Joe Biden 7.1 million people were out of work.
According to the information, teenagers (16.3 percent), blacks (8.3 percent) and people with roots in Latin America (5.0 percent) were disproportionately affected by unemployment.
