Trump's economy record exposes a complicated reality during presidency
WASHINGTON (AP) — It was a time of fear and chaos four years ago.
The death count was mounting as COVID-19 spread. Financial markets were panicked. Oil prices briefly went negative. The Federal Reserve slashed its benchmark interest rates to combat the sudden recession. And the U.S. government went on a historic borrowing spree — adding trillions to the national debt — to keep families and businesses afloat.
But as Donald Trump recalled that moment at a recent rally, the former president exuded pride.
“We had the greatest economy in history,” the Republican told his Wisconsin audience. “The 30-year mortgage rate was at a record low, the lowest ever recorded ... 2.65%, that’s what your mortgage rates were.”
The question of who can best steer the U.S. economy could be a deciding factor in who wins November’s presidential election. While an April Gallup poll found that Americans were most likely to say that immigration is the country’s top problem, the economy in general and inflation were also high on the list.
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