Trump Declares Economic Wins as Gas Prices Drop Below $2
President Donald Trump took to Truth Social on May 2 to highlight what he sees as major wins for the U.S. economy under his influence, declaring a significant drop in gas prices and calling on the Federal Reserve to lower interest rates.
According to Trump, gasoline prices have now fallen below $1.98 per gallon—the lowest in years—marking what he describes as a turning point in a broader “transition stage” for the economy. He added that not just gas, but also grocery prices (including eggs), energy costs, and mortgage rates are all trending downward.
“Consumers have been waiting for years to see pricing come down. NO INFLATION, THE FED SHOULD LOWER ITS RATE!!!” Trump emphasized in all caps, underscoring his belief that current economic conditions justify a rate cut.
Tariffs and Employment Cited as Catalysts
Trump credited the economic shift to tariffs, claiming that billions of dollars are now pouring into the U.S. economy from tariff revenues. He also pointed to strong employment numbers as further evidence that the economy is rebounding.
While he acknowledged that this period is still a “transition stage,” Trump emphasized that it’s “just getting started,” promising even more economic improvements ahead. His comments are likely to fuel further debate over fiscal and monetary policy, especially as the 2024 election cycle heats up.
Pressure Mounts on the Fed
This statement adds to growing political pressure on the Federal Reserve to reassess its current rate policy, especially amid softening inflation indicators. Trump has frequently criticized the Fed’s stance in the past, often calling for more aggressive rate cuts during his presidency.
Whether the Fed will respond to Trump’s latest call remains to be seen, but his message is clear: he wants interest rates down to help fuel what he sees as a burgeoning economic resurgence.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
