Trump’s lies about costs shows something is very wrong 'inside the man’s mind': economist

Breaking down President Donald Trump's latest spin on his faltering economy, University of Michigan economics professor Justin Wolfers said his lies are so shocking he wonders if the president is suffering a mental breakdown, The Daily Beast reports.

In his latest interview with Fox News host Laura Ingraham, Trump said he's spearheading "the greatest economy we've ever had" and insisted the United States is doing "phenomenally well."

Appearing on CNN’s Kaitlan Collins show "The Source," Wolfers said, "Look, every word the president just said is a lie."

"Worse with that, it’s such a lie that I worry that there’s literally a break with reality inside the man’s mind," he added.

Wolfers said that Trump's comments aren't just "spin," but they are "flatly contradicted by government data," The Daily Beast reports.

“I can tell you that because I’m a statistics nerd,” Wolfers said. “You can go to the Bureau of Labor Statistics. They’ve got people in supermarkets all across the country, and almost every category of goods or services sees the prices rising.”

As of late 2025, the annual inflation rate had risen to 3.0 percent, up from a low of 2.3 percent in April 2025.

Prices for groceries, housing and energy have continued to rise, leading to public anxiety about affordability. Economists largely agree that the Trump administration's tariffs have contributed to these price increases for consumers and businesses.

Wolfers also said that denying the existence of inflation "crosses a line."

“And it’s not just the nerds at the [the Bureau of Labor and Statistics] who see it,” he said. “When companies are giving their earnings reports, they’re telling us they’re raising their prices. Every single viewer on the other side of this television set knows exactly what’s happening, which is prices are rising.”