Trump kicks off State of the Union touting his economic agenda

President Donald Trump is zeroing in on what he calls America’s “roaring economy.”

The president is giving his annual speech to a joint session of Congress. He opened the event focused on his administration’s economic agenda, especially inflation rates and consumer prices.

“I inherited a nation in crisis with a stagnant economy,” Trump told lawmakers, adding that his administration has driven down inflation and mortgage rates, along with energy prices. He touted an increase in jobs in the construction sector, the strong stock market, and how the administration “lifted a record number of Americans off food stamps” with their updated SNAP rules.

The president added that he and Republican allies delivered the “largest tax cuts in American history” in their latest budget bill, alongside promises to end taxes on tips, overtime, and Social Security. And he mentioned Trump Accounts, a newly-launched federal investment account for children that will be available in July.

“A short time ago, we were a dead country,” he said. “Now we are the hottest country anywhere in the world.”

Throughout his second term, the Trump administration has leaned into affordability issues, especially high prices on consumer goods. The White House has touted budget changes in the One Big Beautiful Bill Acttax breaks for middle- and higher-income Americans, and a recently-launched TrumpRx prescription platform. In some cases, the president has reached across the aisle for economic priorities, like a long-time Democrat-backed policy to rein in credit card rates.

As for the job marketgrowth has been the lowest in decades aside from recessions, and Trump’s Department of Government Efficiency took a sizable swing at the federal workforce. The administration hopes the pending appointment of former Wall Streeter Kevin Warsh to replace Federal Reserve Chair Jerome Powell will be a path toward lower interest rates in 2026, which could juice hiring — at the risk of growing inflation.

A YouGov and MarketWatch poll published February 24 found that 83% of Americans believe affordability has worsened or remained stagnant under Trump’s second term.

Trump is expected to speak for at least two hours this evening, covering topics like the Supreme Court tariff ruling, AI investment, immigration, and foreign policy.

This is a developing story. Check back here for updates.