Trump's Economic Boom Claims Fizzle Amid Inflation Concerns

President Donald Trump has been touting an economic boom for 20 months, but even a strong jobs report in August has caused problems for him. The report showed a surprisingly positive 162,000 new jobs added to the economy, but Trump instead vented frustration at inflation and interest rates.

He blamed the Federal Reserve and U.S. trade partners for higher prices, saying 'Success does not cause inflation. Stupidity causes inflation.' However, his own policies have contributed to inflation and high interest rates.

The national debt has surpassed $40 trillion, and the 10-year Treasury note rose to 4.79% on Friday. Trump's approval rating on the economy is at a low 32%, down from 50% in 2018.

Despite his claims of an economic boom, growth has only reached 2% annually, slower than during the Biden administration. His own policies have enabled inflation and high interest rates, damaging his credibility on the economy.