President Donald Trump, pointing to dropping prices for gasoline as well as eggs and other groceries, is continuing to call for the Federal Reserve to lower interest rates.
"Egg prices are WAY DOWN from the Biden inspired prices if just a few weeks ago," the president said on his Truth Social page late Thursday. "'Groceries' and Gasoline are down, also. Now, if the Fed would do the right thing and lower interest rates, that would be great!!!"
Earlier this week, Trump also called on the Fed to cut rates while tariffs "start to transition" into the U.S. economy.
The Federal Reserve this week kept interest rates the same, while assessments continue on how the president's tariffs could affect economic growth.
Chair Jerome Powell said that the Trump administration's early policies and calls for extensive import tariffs appear to have shifted the economy to slower growth and higher inflation.
Meanwhile, the wholesale price of eggs has dropped sharply from more than $8 for a dozen large white eggs at the end of February to just over $4 for a dozen eggs, according to Agriculture Department data released last week, reports The New York Times.
It will likely take a few weeks for shoppers to see prices dropping in stores. Economists report that the decline likely is coming from a combination of reasons, including bird flu coming under control, dropping consumer demand, decisions on producer pricing, and a ramped-up supply.
Trump also cited the drop in prices during a speech at the Justice Department last week.
Gas prices, meanwhile, appear to have climbed, some for the third day this week, according to AAA.
The latest national average price for a gallon of regular gas was $3.129 Friday, higher than on Tuesday when the average was $3.078.
But even with the recent increase, costs are still less than last month, when a gallon of gas averaged at $3.162, and cheaper than when former President Joe Biden was in office, when gas averaged $3.527 a gallon.
Sandy Fitzgerald ✉
Sandy Fitzgerald has more than three decades in journalism and serves as a general assignment writer for Newsmax covering news, media, and politics.
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