Trump declares economic boom as Americans remain concerned about prices

President Trump declared an economic boom in a Detroit speech while Labor Department data showed consumer prices rose 2.7% over the year; he mentioned housing and credit proposals but did not provide full legislative details.

President Donald Trump told a Detroit audience that "the Trump economic boom has officially begun" and said he will outline more plans to address affordability. He cited tax cuts, tariffs and trade deals and briefly mentioned housing and credit measures. The Labor Department released data showing consumer prices rose 2.7% from December 2024 to December 2025. He also previewed additional policy details he plans to present next week at the World Economic Forum in Switzerland. Key points: - Trump declared an economic boom and said more affordability plans are forthcoming. - The Labor Department reported a 2.7% increase in consumer prices between Dec. 2024 and Dec. 2025. - The article reports Trump directed Fannie Mae and Freddie Mac to buy $200 billion in mortgage bonds and proposed measures such as capping credit card interest rates and limiting investor purchases of single-family homes; those changes would require legislation. - A poll in Michigan cited by the article found nearly two-thirds of likely voters noticed rising costs and 48% said the economy has gotten weaker under Trump. Summary: Trump framed the economy as strong while official price data and public polling show continuing concerns about affordability. He signaled he will provide more specifics at the World Economic Forum next week, and several of the measures he mentioned would need congressional approval. Jerome Powell’s term as Federal Reserve chair is due to expire in May, a timing mentioned in discussions about interest rates.