Voters and fact checkers agree: Trump's claims about the economy are bunk

During his press conferences, President Donald Trump often boasts that he has revitalized the U.S. economy since returning to the White House. And he is expected to do some more boasting about the economy during his 2026 State of the Union (SOTU) address this Tuesday night, February 24.

But New York Times reporters Ashley Cai and Linda Qiu fact-check Trump's claims about the economy in an article published the day before his SOTU.

During an NBC News appearance in February, Trump claimed, "I inherited the worst inflation in the history of our country. And now, we have almost no inflation."

But according to Cai and Qiu, "Inflation has slowed under Mr. Trump, but not by the drastic margins he is claiming. And prices are still increasing above the target of 2 percent set by the Federal Reserve."

During a MAGA rally in Georgia on Thursday, February 19, Trump told the crowd that former President Joe Biden "was sleeping while you were trying to get a job," adding, "You weren't working, and now, we have the most people working in history."

According to Cai and Qiu, however, Trump "falsely described the employment situation under his predecessor."

The Times reporters note, "Former President Joseph R. Biden Jr. could also have claimed to preside over the most people working during his term, as could most other presidents not in office during periods of economic downturns or recessions. But labor force participation — those who were employed or actively looking for a job — has held steady under Mr. Trump, changing little from 62.6 percent in January 2025 to 62.5 percent this January. The unemployment rate rose slightly from 4 percent to 4.3 percent. The economy added 359,000 jobs from February 2025 to January 2026, compared with more than 1.2 million in the previous year."

In a separate New York Times article published the same day, reporter Audra D.S. Burch takes a look at U.S. workers who are still being pummeled by inflation — which Trump, during his 2024 campaign, promised to end "starting on Day 1."

"For millions of Americans," Burch explains, "affordability has become a defining issue as the soaring cost of big-ticket necessities such as housing, education, health care and child care take a toll on household budgets. Though unemployment is lower and inflation has slowed — data points that President Trump will likely cite in his State of the Union address on Tuesday — recent economic gains have largely benefited the wealthy. In interviews, some working Americans said the improved economy does not reflect their real-world struggles to pay bills or plan for the future. They have a hard time making sense of Mr. Trump's claims that he has defeated inflation, and the rising stock market has no bearing on their income."

New York City resident Kristin Errico told the Times, "Everything is up 20 percent in cost except my salary."

According to Erin Hatton, a sociology professor at New York State University, Buffalo, inflation remains a major problem for many U.S. workers.

Hatton told the Times, "For so many people, basic living has become a burden. The fact is that there are so many people that don't have a couple extra hundred dollars if faced with an emergency or, they can pay their bills but can't save for their retirement."