America is now world’s hottest economy: Donald Trump
New Delhi, Jan 22 (IANS/WISHAVWARTA) US President Donald Trump on Wednesday addressed the World Economic Forum (WEF) in here, where he strongly promoted what he called the “American growth miracle” and praised his administration’s economic record.
Speaking to global leaders and business executives, Trump said the United States had transformed from a “dead economy” into the “hottest economy in the world” within one year of his return to the White House.
He claimed that growth, productivity, investment and incomes were all rising rapidly, while inflation had been brought under control.
“After 12 months back in the White House, our economy is booming. Growth is exploding, productivity is surging, investment is soaring, incomes are rising. Inflation has been defeated,” Trump said, calling it the fastest and most dramatic economic turnaround in US history.
Trump sharply criticised former President Joe Biden, accusing his administration of creating stagflation, a situation of low growth and high inflation.
According to Trump, his policies have reversed that trend. He said the country is now witnessing very low inflation and exceptionally strong economic growth.
Highlighting Wall Street’s performance, Trump said the US stock market has touched record highs 52 times since the election.
He also claimed that the US economy is growing at almost double the rate projected by the International Monetary Fund last year and could grow even faster under his tariff and growth policies.
Calling the US the “economic engine of the planet,” Trump said that when America prospers, the rest of the world benefits as well. He added that this has been proven repeatedly throughout history.
Trump also spoke about Europe, saying that many parts of the continent have changed so much that they no longer feel familiar to him.
He expressed concern about Europe’s future, stating that it is not moving in the right direction. He blamed Europe’s challenges on strong green energy policies and large-scale migration.
While he said he wanted Europe to do well, Trump warned that its current direction could lead to further economic and social difficulties.
