This Week in the Trump Economy: Lower Prices, Higher Growth, Record Markets

Summary

The White House reported that the Trump economy is delivering lower prices, improved affordability, and record-setting growth. Gas prices fell to their lowest Labor Day level in five years, airline tickets and hotel rates declined notably, and mortgage rates hit a ten‑month low. Stock markets set fresh records as the Dow and S&P 500 climbed higher, buoyed by business optimism and strong earnings. The second-quarter GDP was revised upward to 3.3%, reflecting growth in consumer spending and business investment while inflation stayed low and stable.

Key Highlights

• ⛽️ Gas Prices: Lowest Labor Day gas prices in five years, credited to revived American energy production.
• ✈️ Travel Costs: Domestic airfares down 6% year-over-year, hotel rates down 11%, rental cars down 3%.
• 🏡 Mortgage Rates: 30-year fixed mortgage dropped to a 10-month low, helping housing affordability.
• 📈 Stock Markets: Dow Jones & S&P 500 hit new record highs; S&P on track for fourth straight winning month.
• 💰 GDP Growth: Second-quarter GDP revised upward to 3.3%, surpassing expectations; inflation remains low and stable.