US President Donald Trump has concluded his speech at the World Economic Forum in Davos, Switzerland.
He concluded: US is back bigger and stronger than ever, see you later.
Some audience members rose to their feet to applaud, but it didn’t seem to be as warm a response as the one Mark Carney received yesterday for his speech about the disruption facing the global economy.
I’ve come to this year’s World Economic Forum with truly phenomenal news from America. Yesterday marked the one year anniversary of my inauguration, and today, 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. Our previously open and dangerous border is closed and virtually impenetrable.
And the United States is in the midst of the fastest and most dramatic economic turnaround in our country’s history. Under the Biden administration, America was plagued by the nightmare of stagflation, meaning low growth and high inflation, a recipe for misery, failure and decline.
But now, after just one year of my policies, we are witnessing the exact opposite. Virtually no inflation and extraordinarily high economic growth. Growth like, I believe you’ll see very shortly, our country has never seen before. Perhaps no country has ever seen before.
Over the past three months, core inflation has been just 1.6 per cent. Meanwhile, fourth quarter growth is projected to be 5.4 per cent, far greater than anybody other than myself and a few others had predicted. Since the election, the stock market has set 52 all-time high records.
So that’s in one year — 52 records, adding $9 trillion in value to retirement accounts, 401Ks and people’s savings. People are doing very well. They’re very happy with me. Since my inauguration, we’ve lifted more than 1.2 million people off of food stamps. And after four years, in which Biden secured less than $1 trillion of new investment in our country — think of that, one trillion. Substantially less than that.
