00:00Welcome, in the back. Go ahead.
00:03Yeah, two questions on the economy.
00:05So, first, we've had small businesses tell us that it's not foreign exporters who are eating the tariffs.
00:11It's them. And they've held off on raising prices, but soon they're going to have to raise prices.
00:16What is the White House's message to them?
00:18The White House's message to our small business owners across the country is you have never had a better ally or friend or supporter in this White House
00:26than President Donald Trump, who is a businessman himself, who understands your concerns,
00:31and who wants to restore wealth back to our country through the powerful use of tariffs.
00:37And that's what he's focused on doing while simultaneously driving down costs.
00:41You have to remember that we are six months into this administration, and we had a president who had no business experience,
00:47had no idea what he was doing, and who funneled billions of wasteful spending dollars into our economy,
00:54which created the worst inflation crisis in a generation.
00:57Now this president is focused on tackling inflation, deregulating, cutting costs, cutting red tape to make it easier for small business owners to thrive.
01:06And again, the economic indicators show that we are moving in the right direction.
01:10In January, when this president showed up to the White House, the six-month annualized core inflation rate was 3.7 percent.
01:18Today, six months later, the six-month annualized core inflation rate is 2.4 percent.
01:23So we are trending in the right direction.
01:25Moving forward, since President Trump took office for another six months, inflation will be tracking at 1.9 percent at this trajectory.
01:33You look at grocery prices they fell, energy prices fell, fuel oil fell, ship fares fell, propane fell, butter, margarine, eggs, non-prescription drugs.
01:42You go through the list of items that are falling.
01:45And then I would also point to that report this morning showing that small business optimism has reached a five-month high.
01:51So, look, we inherited an economic mess from the previous administration, but this administration is focused on fixing it every day.
01:59And part of that is signing the largest tax cuts into law to put more money back into the pockets of these small business owners.
02:05One more.
02:05Just on the BLS, they collect the inflation data, obviously.
02:08If the jobs data is not reliable, should Americans trust the inflation data?
02:12Well, look, the jobs data has had massive revisions.
02:15We want to ensure that all of the data, the inflation data, the jobs data, any data point that is coming out of the BLS is trustworthy and is accurate,
02:23which is why the president has restored new leadership at the BLS.
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