President Donald Trump defended his record on bringing down prices in a speech to McDonald’s franchise owners and suppliers, while acknowledging continued public unease about the cost of living.
Addressing the fast-food group on Monday, Trump took credit for reducing inflation from its recent highs and vowed to push price growth even lower. “We have it down to a low level, but we’re going to get it a little bit lower,” he said, adding briefly, “We want perfection.”
Echoing familiar campaign themes, the president blamed Democrats and former president Joe Biden for earlier cost pressures and said Americans were “so damn lucky” he won the 2024 election. “Nobody has done what we’ve done in terms of pricing. We took over a mess,” he said.
Despite his insistence that his policies are improving affordability, public opinion polls suggest many voters remain unconvinced. An NBC News poll this month found 66 percent of respondents said Trump had fallen short of their expectations on affordability, and 63 percent said the same about the broader economy. Concerns about prices have been cited as a major factor in Republican losses during recent off-year contests in states including New Jersey and Virginia.
On policy, Trump has moved to ease some consumer costs. Last Friday he signed an executive order cutting tariffs on 200 food items, specifically naming products such as beef, bananas, coffee and orange juice. He has also proposed ideas like tariff-funded $2,000 rebate checks and the option of 50-year mortgages as measures to improve affordability.
Macroeconomic indicators show inflation has come down substantially from its peak of 9.1 percent—recorded in the prior administration—but remains above the Federal Reserve’s 2 percent target. The inflation rate rose to 3 percent in October, the first 3 percent reading since January; some analysts had forecast an even higher October figure given recent trade actions.
Trump, a well-known fan of McDonald’s, spent part of his remarks praising the chain as an exemplar of his economic message, highlighting its return of lower-priced menu options. He thanked the company for reintroducing extra value meals priced at $5 or $8 and cast the chain as aligned with his aim of making everyday goods and services more affordable: “Together we are fighting for an economy where everybody can win, from the cashier starting her first job to a franchisee opening their first location to the young family in a drive-through line,” he said.
Critics point to persistent affordability worries and skeptical polling as evidence that many Americans are not yet feeling the benefits Trump claims, while supporters say recent policy moves and lower headline inflation show progress. The debate over whether these measures will translate into sustained relief at the household level is likely to continue as the administration pursues additional steps to reduce prices.