Trump frames affordability crisis as a hoax amid midterm economic push

President Donald Trump referred to the affordability crisis as a hoax during the first night of the Republican National Committee’s midterm convention in Dallas, claiming he will bring prices down and give every adult U.S. Citizen a $5,000 dividend if Republicans win the midterms.

In his speech, Trump blamed former President Joe Biden for runaway inflation and said affordability concerns were fake because he is lowering prices, noting consumer prices have risen 4.3% since January 2025, with groceries up 3.4% and gasoline up 31% amid the ongoing crisis in Iran.

White House messaging has also highlighted affordability, announcing a cap on credit card interest rates at 10%, opening “Trump accounts” that allot $1,000 to children born between 2025 and 2028, and banning institutional investors from purchasing single-family homes.

The mix of messages shows the tension in Trump’s economic pitch heading into the midterms, as he seeks credit for lowering prices while rejecting the premise that affordability remains a crisis.

Read the full story at businessinsider.com.