So what does “a little while” mean?
President Trump says he cannot tell you when gas prices will go back down.
His answer to this question now is “eventually.”
Additionally, Trump stated that it’s possible that gas prices might remain elevated (or possibly slightly higher) until after the November mid-term elections.
The polling cited in recent media reports shows that most Americans claim they’ve reduced their expenses due to rising gasoline prices, and many believe that the administration is responsible for increasing these prices.
While the U.S. stock market continues to hover close to all-time highs despite climbing gas prices, Trump points to the performance of the U.S. stock market as proof that the overall economy is faring much better than predicted under the pressure of the war and the increased energy costs. The economic indicators do not support this assertion. But in terms of real GDP growth, the economic data indicate otherwise.
Beginning in Q1 2019, the U.S. has experienced six consecutive quarters of less-than-2% real GDP growth. This is a trend consistent with an impending recession. While the U.S. stock market remains relatively strong, other countries’ markets continue to decline.
