Chris Wright, Trump's energy secretary, expressed optimism about nuclear power's role in America's energy future. "We're committed to bringing advanced nuclear technology to market," Wright said during a press briefing. "This administration understands that energy abundance and environmental responsibility can coexist."

President Donald Trump rescinded an executive order issued by former President Joe Biden aimed at finding new models for lowering drug costs. Trump's action didn't affect the caps on seniors' drug costs or Medicare price negotiations that Biden signed into law.

Progress reducing the rise in consumer prices has stalled, with recent data coming in hotter than expected. By pressuring the Federal Reserve, Trump could reignite inflation.

Trump will probably seek to ease inflation and lower prices by drilling for more oil, loosening regulations, reducing federal spending, experts say.

In August 2024, then-candidate former President Donald Trump delivered a press conference surrounded by packaged foods, meats, produce, condiments, milk and eggs.

Some of Trump’s supporters see a lack of emphasis on lowering consumer costs and making daily American life more affordable.

In Trump’s plan, income earners would also gain the tax-free benefit, a change that could destabilize the Social Security trust funds that pay out the benefits. Therefore, Razi believes a more prudent approach would be to impose a means test to qualify for the Social Security tax exemption instead of eliminating it entirely.

A provision about insulin in the Inflation Reduction Act is conflated with a 2022 executive order by former President Joe Biden on lowering prescription drug costs in posts online that suggest President Donald Trump has canceled the $35 insulin co-pay cap for certain Medicare programs.

President Trump at a rally in Las Vegas on Saturday promoted his "No Tax On Tips" proposal and talked about how the current tax system punishes workers in the food and beverage industry. "When I think of Biden,

The combination of policies that came to be known as Bidenomics — the Inflation Reduction Act (IRA), Infrastructure Investment and Jobs Act, and the CHIPS and Science Act — signaled a sea change in American domestic politics.

Consumer sentiment fell in January for the first time in six months, according to U-M survey. What's next as Trump creates more uncertainty?