Trump calls affordability concerns Democratic 'hoax'

US President Donald Trump defended his economic record Tuesday, claiming his policies are driving down prices and raising wages while accusing Democrats of exaggerating affordability concerns.

"We're bringing those prices down rapidly — lower prices, bigger paychecks," Trump said in Pennsylvania during remarks focused on the economy, insisting that inflation is being "crushed" under his leadership and that Americans are "getting much higher wages."

"But they have a new word. They always have a hoax. The new word is 'affordability,'" he said. "Prices are coming down. Their prices — it's a hoax,"

Trump added that oil and fuel production is at "the greatest amount…than ever before," which he argued is pushing down prices across the economy. He also claimed that "rent prices are down" and dairy prices "are coming down very strongly" and said the price of Thanksgiving turkeys dropped "33% compared to the Biden era."

During the speech — the first in a planned series of domestic trips focused on the economy — Trump highlighted his initiative to eliminate taxes on tips and overtime, calling it a major boost for working families. He also touted his tariff policy, claiming it had brought "hundreds of billions" of dollars into the US and spurred new manufacturing investment.

"My favorite word is 'tariff,'" he said, arguing the duties have drawn companies back to the US.

"Tariffs are bringing us hundreds of billions of dollars…steel companies are coming to Pennsylvania now because they don't want to pay 25%, 50%, 100% tariffs."

Trump also attacked former President Joe Biden's appointees to the Federal Reserve, suggesting governors appointed under Biden may be "not authorized to be there," reiterating his claim about Biden's use of an "autopen."