President Donald Trump announced that the U.S. economy is booming at 3.4 percent, a figure he described as a historic level of economic growth. The announcement came as part of a broader message celebrating strong GDP numbers, surging investment, and low core inflation.
"Today, I'm pleased to report in breaking news this morning that the U.S. economy is booming at 3.4 percent, which is a historic economic level," Trump said in a video released by the White House Rapid Response account. "The numbers came out way, way, way above expectation."
Consumer spending and business investment surge
S. now than at any time before.
He cited specific figures: consumer spending is up, business investment is up at record levels, and investment in new equipment exploded by 21 percent. "That's two things," Trump explained. "It's the tax credit that you get under the Great Big Beautiful Bill, the businesses get. But I think even more importance because of the tariffs."
Inflation at 1.7 percent over last three months
Trump also pointed to low core inflation, contrasting it with what he called "the worst inflation in the history of our country" inherited from "Sleepy Joe Biden." He noted that for the last three months, inflation is 1.7 percent. "We're smashing expectations with today's numbers, beating 72 percent of the economists," he said.
