Trump downplays economic woes as partisan spin, saying, 'Costs are way down'

President Donald Trump said the U.S. system is beardown and insisted polls showing Americans are feeling economical pain are "fake" during an interrogation connected Fox News that aired connected Monday night.

Trump said atrocious quality astir the system amounted to a "con occupation by the Democrats," adding Democrats "feed" large quality web anchors with the connection the system is atrocious and past "every anchor" does "exactly what they say."

"I'll ne'er forget, they utilized a connection similar 'manufactured,'" Trump said successful the interview. "You retrieve the connection 'manufacture'? It's a 'manufactured' economy. Nobody uses that word. Every anchor broke successful 'manufactured.' They bash precisely what they say. It's specified a rigged system."

The U.S. system grew astatine an annualized complaint of 3.8% successful the 2nd 4th successful the government's last estimate, besting a 3.3% complaint issued successful its 2nd estimation and acold exceeding a 3% archetypal estimate. But consumer prices roseate 3% successful September compared to a twelvemonth ago, with ostentation astatine its highest level since January, the most-recent authorities information showed. The ostentation speechmaking came successful little than economists' expectations.

Trump defended his handling of the economy, saying that costs are "way down" crossed the board.

"So are you ready? Costs are mode down," Trump said. "Gasoline is going to beryllium hitting $2 beauteous soon, oregon astir $2. Gasoline is astatine $2.70 present and it was astatine $4.50 nether Biden, nether sleepy Joe. When gasoline comes down, erstwhile vigor comes down -- and everybody agrees vigor is down -- we drill, you know, drill, babe drill. We're going similar wild."

The mean user terms for a gallon of state successful the U.S. was $3.072 connected Tuesday, according to AAA, which said the mean terms was $3.083 a gallon a twelvemonth ago.

President Donald Trump speaks, during the swearing-in ceremonial for Sergio Gor arsenic U.S. Ambassador to India, astatine the White House successful Washington, D.C., Nov. 10, 2025.

Kevin Lamarque/Reuters

Trump was besides pressed astir a rollout by his medication for a 50-year owe option, thing that faced disapproval connected societal media arsenic critics pointed retired that the extended payoff timeline would mean Americans would wage much successful involvement than they would done the beingness of a shorter loan.

Laura Ingraham, the Fox News host, suggested to Trump that longer loans could beryllium construed arsenic a "giveaway to the banks" and would simply beryllium "prolonging the clip it would instrumentality for Americans to ain a location outright."

Trump pushed backmost connected Ingraham, saying that “all it means is you wage little per month.”

"You wage it implicit a longer play of time. It's not similar a large factor. It mightiness assistance a small bit,” Trump said. "But adjacent with involvement rates up, the system is the strongest it's ever been. You know, you asked me, conscionable to spell backmost to the opening of your question, you talked astir prices. We're down connected energy. We're down connected involvement rates."

Trump was besides pressed astir the controversial demolition of the East Wing to marque mode for the ample ballroom that's being constructed now.

"Well, archetypal of all, the East Wing was a beautiful, little, tiny operation that was built galore years ago, that was renovated and expanded and disbanded and columns ripped out, and it had thing to bash with the archetypal building," helium said. "It was a poor, bittersweet sight, and I could person built the ballroom astir it, but it would not person been -- we're gathering 1 of the top ballrooms successful the world, by the way."

"But the East Wing, that gathering was renovated 20 times, including adding a level to the top, which was terrible, Trump continued. “It was astatine a communal ceramic little, tiny windows. It looked similar hell. It had thing to bash with the archetypal building, and I didn't privation to sacrifice a large ballroom for an good ballroom by leaving it close smack successful the middle.”