Press Conference Key Announcements

Here are the key announcements and statements from the press conference:

U.S. Economic Performance and Outlook

The U.S. economy is experiencing booming growth, surging productivity, soaring investment, and rising incomes, with inflation defeated and the border secured. The administration claims this is the fastest and most dramatic economic turnaround in U.S. history, contrasting it with the "stagflation" of the previous administration.

Inflation Defeated: Core inflation has been just 1.6% over the past three months.
High Economic Growth: Fourth quarter growth is projected to be 5.4%.
Stock Market Records: The stock market has set 52 all-time high records in the past year, adding $9 trillion in value.
Poverty Reduction: Over 1.2 million people have been lifted off food stamps.
Record Investment: Commitments for $18 trillion (potentially closer to $20 trillion) in investment have been secured in the past year, significantly more than the previous administration.
Global Impact: When the U.S. economy booms, the entire world booms.
Future Plans: The administration plans to raise living standards to unprecedented levels and encourages other nations to follow their economic policies.
Economic Miracle: The administration describes the economic turnaround as a "miracle" achieved through their policies.
Job Growth: Factory construction is up by 41%, and domestic steel production is increasing.
Energy Policy: Instead of closing energy plants, they are opening them, and are not approving new windmills.
Deregulation: 129 regulations have been cut for every one new regulation approved.
Tax Cuts: The largest tax cuts in American history were passed in July, including no tax on tips, overtime, or Social Security.
Investment Incentives: 100% expensing and bonus depreciation for new equipment and capital investments are being offered to encourage companies to shift production to America.
Trade Deficit Reduction: The monthly trade deficit has been slashed by 77%.
American Exports: Exports are up by more than $150 billion.
Steel Production: Domestic steel production is up by 300,000 tons per month and is expected to double in the next four months.
Trade Deals: Historic trade deals have been made with partners covering 40% of all U.S. trade.
Energy Production: U.S. natural gas production is at an all-time high, and oil production is up by 730,000 barrels per day.
Gasoline Prices: Gasoline prices are now below $2.50 per gallon in many states, with expectations of averaging less than $2 per gallon.
Nuclear Energy: An order has been signed directing the approval of many new nuclear reactors, with a significant focus on nuclear energy due to its safety and cost-effectiveness.
AI Leadership: The U.S. is leading the world in AI by a significant margin, with companies building their own electric capacity to meet AI power demands.
Housing Market: Large institutional investors are banned from buying single-family homes through an executive order. Congress is urged to pass this ban into permanent law.
Credit Card Interest Rates: A call to cap credit card interest rates at 10% for one year to help Americans save for a home.
Crypto Capital: Efforts are underway to ensure America remains the "crypto capital of the world," with the signing of the Landmark Genius Act and ongoing work on crypto market structure legislation.
Mortgage Bonds: Government-backed institutions are instructed to purchase up to $200 billion in mortgage bonds to lower interest rates.
New Fed Chairman: A new Fed chairman will be announced in the near future, with the current chairman, Jerome Powell, criticized for being "too late" with interest rate decisions.
Homeownership: Efforts are being made to protect the value of existing homes for current homeowners, balancing affordability with market stability.
Interest Rates: The U.S. should be paying the lowest interest rate of any country.
Swiss Trade Deficit: A 30% tariff was imposed on Swiss products to address a $41 billion trade deficit, which was later reduced to 39%.