The Trump team’s puzzling ‘all is well’ message on the economy
The Trump team’s puzzling ‘all is well’ message on the economy
As the Iran war enters its second month, the Trump administration has shifted its focus to a message of reassurance, framing economic conditions as stable despite rising costs. This approach contrasts with earlier claims of temporary sacrifices for long-term benefits, which were central to their campaign during the conflict’s onset. Now, the rhetoric emphasizes calmness, suggesting that challenges are manageable and outcomes are favorable.
The administration’s stance mirrors a familiar trope, likened to Kevin Bacon’s character in “Animal House” — a nod to the idea that everything is under control. During a recent Fox Business interview, President Trump asserted that the economy is performing strongly, citing a resilient stock market as evidence. “To be honest, we are doing so well,” he told Maria Bartiromo, despite affordability concerns persisting among voters.
“And you know what? I’m very happy.”
Trump’s optimism extended to oil prices, where he downplayed the $92-per-barrel cost, arguing it’s “not so bad” compared to projections of $200. At a Las Vegas campaign event, he reiterated that inflation remains “a very low number, and it’s still low,” even as it reached a two-year high. He framed current conditions as better than they could have been, calling the economic situation “very strong” and “blowing it away now.”
Support for this narrative comes from White House and Treasury officials. Press secretary Karoline Leavitt highlighted declining gas prices since Trump’s inauguration, though data from Gas Buddy shows only a 10-cent drop from $3.11 to $3.01. Treasury Secretary Scott Bessent echoed this, stating the economy was “in such good shape” to justify the war. During a Tax Day interview, Bessent claimed consumers are “quite buoyant” in spending, despite surveys suggesting otherwise.
“The consumer, while they may be sounding grim, is actually quite buoyant,” Bessent said. “I’m not sure what they’re telling the survey people.”
However, the message risks backfiring. Recent data reveals the University of Michigan consumer sentiment index hit a record low, underscoring widespread pessimism. This follows the Biden administration’s similar claims during a prior inflation spike, which eroded public confidence in 2024. While some economic fundamentals remain steady, the disconnect between official narratives and voter experiences highlights a growing challenge for the Trump team’s messaging strategy.
