Don’t fall for the tariff panic; Trump has already crushed inflation
Targeting the runaway government printing press and regulatory stateThe magician’s greatest trick isn’t speed; it’s misdirection, dazzling the audience with one hand while the other reshapes reality. The debate over President Trump’s tariffs follows the same script.
Since Mr. Trump announced reciprocal tariffs, the stock market has consumed media headlines. The real news isn’t being told: Mr. Trump’s free market policies are working and making a real impact on working families. Most significantly, inflation is being defeated.
According to data released by the Bureau of Labor Statistics on April 10, the Consumer Price Index fell for the first time in half a decade.
After relentless price hikes, where, under President Biden’s watch, inflation hit a 40-year high and overall inflation clocked in at an annual rate of 21%, the average American family is spending less on everyday essentials, not more. It all happened because Mr. Trump is going after the real driver of inflation: the runaway government printing press and regulatory state.
As Milton Friedman said, inflation is always and everywhere a monetary phenomenon. It begins in Washington, and that was exactly where Trump started. He and his team launched an aggressive overhaul to eliminate waste, fraud and unneeded programs from the federal government. Billions of dollars are being saved, and progress is tracked daily on the Department of Government Efficiency website. This has enabled the president to follow through on his commitment to bring down inflation, and in less than 100 days, he has already brought it to its knees.
Energy prices, driven by regulations designed to restrict exploration, transportation and drilling, went through the roof during the Biden years and hit record highs. Upon assuming office, Mr. Trump immediately implemented executive orders to end the “war on energy.” Regulations were loosened. Prohibitions were lifted. Exploration was allowed once again. Right before Mr. Trump took office, the average price for Brent crude oil was $79.50. Prices approached $139 a barrel during the Biden presidency. Now, a barrel of oil is less than $60. Lower gas prices mean less money being spent at the pump and more money in your pockets.
