Trump signs orders to try to tackle inflation and lower energy prices
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President’s energy emergency declaration aims to usher in ‘affordable and reliable American energy’. Donald Trump signed a memorandum on inflation and multiple orders aimed at lowering energy prices, but the incoming president’s advisers offered few details on the policies, raising serious questions about whether the new administration will be able to address one of Americans’ most pressing concerns.
During a press call on Monday morning, incoming White House advisers pledged that Trump would pursue an “all of government approach to bringing down costs for American citizens” but they declined to outline concrete steps that the administration would pursue to lower prices.
“I don’t want to get ahead of the president here, but I will say that this is going to be an all of government approach here,” one adviser said. “It is a crucial issue … that necessitates decisive action as early as possible in the administration, and that’s what the president is doing with this presidential memorandum.”.
During Joe Biden’s presidency, the annual consumer price index (CPI) – which measures the price of a broad range of goods and services – reached a post-pandemic peak of 9.1%. It has since fallen to 2.9% as of last month. Although polls showed that the economy and rising prices specifically ranked as top priorities for voters in November’s elections, Americans are split on whether Trump will be able to tackle the issue.
