It’s Still the Biden Economy

Plus: Why DEI Was Left to Die

In Today’s BRIGHT

It’s Still the Biden Economy
FBI Director Wray Resigns
Why DEI Was Left to Die
Lilly to Test Obesity Drugs for Drug Addiction

It’s Still the Biden Economy

Americans report that they’re feeling pretty good going into 2025, with several indicators that they’re optimistic about the economy, such as traveling more than last year during the holidays. However, the latest report from Bureau of Labor Statistics shows that inflation rose to 2.7% year-over-year in November, marking the second consecutive monthly increase, according to the Washington Examiner. Month-to-month inflation climbed 0.3%, while core CPI inflation, excluding food and energy, remained steady at 3.3%. This uptick presents a challenge for President-elect Donald Trump as he inherits the economy from President Joe Biden.

The Examiner said that the Federal Reserve, which recently lowered interest rates by 0.25%, is closely monitoring inflation. Despite high interest rates, the labor market remains resilient, adding 227,000 jobs in November, though unemployment ticked up to 4.2%. GDP growth remains robust, with a 2.8% annual rate in Q3. Investors anticipate further Fed rate cuts as Trump takes office amid slowing but steady economic growth.

CNN noted:

Trump won the presidency last month amid broad disapproval of President Joe Biden’s handling of the job and deeply negative feelings about the state of the country and the economy. Almost 7 in 10 Americans in the new poll think Trump will be able to bring change to the country (68%), though only about half of Americans (48%) say they think it will be change for the better.
…
The economy was a particularly strong point for Trump during the campaign, and it is one of the few areas in the poll where deep confidence in him outpaces past presidents. More Americans say they have “a lot” of confidence in Trump’s ability to handle the economy than those who said so about George W. Bush (29%), Bill Clinton (20%) or Ronald Reagan (26%) during their transitions.

RELATED: We’re So Back: Small Business Optimism Soars to Three-Year-High Following Trump Victory (Breitbart)