No doubt you’ve already heard the news that inflation actually declined in March on a month-to-month basis for the first time in almost three years, and fell to 2.4% on a yearly basis. This is horrible news, at least for the Democratic Party, which continues to hope for the worst under President Donald Trump.
Economists had actually expected inflation to rise for the month. Instead, this is the first time since July 2022 that the index declined. “Surprising,” said a number of headlines.
Recall for a moment last year’s bold promise from Trump on inflation: “Prices will come down and come down dramatically and come down fast,” he said.
So far, so good, as Trump himself noted on X.
Despite Trump’s imposition of tariffs on much of the rest of the world, in particular China, which he had promised to do, his moves so far have had zero impact on inflation and are unlikely to for months to come.
Democrats are in a tough spot. Unable to tar Trump with President Joe Biden’s inflation disaster, Democrats earlier found what they believed was a point of inflation vulnerability for Trump: The soaring cost of eggs!
They complained vociferously about egg prices during the opening days of Trump’s second term, as if his policies had caused the problem. Yet, strangely, Dems and their leftist allies in the media had barely even mentioned the topic until Trump got in office.
Indeed, from 2021 to 2024, egg prices rose on average 13.3% a year as Biden ordered more than 100 million egg-laying hens to be destroyed, leaving store shelves short of eggs. Prices inevitably soared.
Whether one likes Trump or not, he had nothing to do with the high prices for eggs, or anything else for that matter. It was all on Biden’s tab.
Yet on Jan. 28, CNN ran this headline, just days after Trump took office: “Trump pledged to bring down food prices on Day One. Instead, eggs are getting more expensive.”
Uh, not actually. According to Trading Economics, egg prices have plunged 45% since the start of this year. And, as hen flock populations are restored and more eggs are produced, prices will fall further.
This happened, by the way, despite the fact that world-renowned egg expert and “The View” co-host Whoopi Goldberg claimed: “[Trump] did promise to lower the price of groceries, I have not seen an egg fall one cent since this man got in.”
As Breitbart Business reported, her colleague, Sunny Hostin doubled down on Goldberg’s cluelessness, by claiming prices for eggs are going up.
Par for the course for the leftist “mainstream” media complex.
This isn’t the first time Trump has been blamed for problems that he didn’t cause. In his first term, lasting from January 2017 to January of 2021, he was bedeviled by claims that his tariffs (yes, he imposed tariffs then, too) and tax cuts would lead to higher inflation. They didn’t.
Even so, less than a month after Trump was elected, the Federal Reserve embarked on an aggressive series of rate hikes, eight in all, even though inflation remained below the Fed’s target of 2%.
Why? Then-Fed Chairman Janet Yellen, at the time, said some Fed board members had “penciled in” Trump’s unorthodox fiscal policy plans as a reason for tightening up interest rates further.
Things were different when Yellen was Biden’s treasury secretary. If she had misgivings as Biden and the Democratic Congress went on an unprecedented $6 trillion “stimulus” spending binge, after shutting the economy down almost entirely for months, we didn’t hear it.
And the Fed, by then headed by Jerome Powell, helped fuel the inflation by holding rates down even as inflation roared and by creating hundreds of billions of dollars of new money out of thin air to aid the stimulus.
The result: a 9% spurt in annual inflation, along with our current inflation problem – a problem that Trump inherited.
Since 1999, the U.S. cost of living has risen by more than 20%, causing a major erosion in average working Americans’ standard of living. It’s a big reason why Trump won again in 2024.
And it’s all because of a massive overreaction by Biden and the Democratic-led Congress, which used an over-hyped COVID outbreak as an excuse to put the entire economy under Washington’s control.
Right now, Trump’s plans to drill for more oil, to use coal when necessary, to massively deregulate the U.S. economy, and to use DOGE to ferret out trillions in government waste, fraud and abuse, are all things that will help further contain inflation.
We’re no fans of tariffs, but who knows? If Trump gets our trade partners to lower their tariffs on our goods and to invest up to $5 trillion more here in the U.S., as Trump believes, we’ll have millions of new jobs and growing incomes. And then there’ll be cheap eggs for everyone.
Issues & Insights was founded by seasoned journalists of the IBD Editorials page. Our mission is to provide timely, fact-based reporting and deeply informed analysis on the news of the day – without fear or favour.
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TIPP Takes
Geopolitics, Geoeconomics, And More
1. Zelensky Urges Trump To Visit Ukraine Before Deal With Russia — BBC
Ukraine's President Volodymyr Zelensky has invited Donald Trump to visit his country before any deal is struck with Russia to end the war.
"Please, before any kind of decisions, any kind of forms of negotiations, come to see people, civilians, warriors, hospitals, churches, children destroyed or dead," Zelensky said in an interview for CBS's 60 Minutes program.
2. More Than 30 Killed In Russian Missile Strike On Sumy, Officials Say — France 24
Ukrainian President Volodymyr Zelensky said “dozens” of people were killed or wounded in Sumy after Russian missiles struck the city as people gathered to celebrate Palm Sunday.
At least 34 people were killed, officials said, with more than 110 wounded.
3. Germany Ready To Send Taurus Missiles To Ukraine, Says Merz — TIPP Insights
Germany’s chancellor-in-waiting, Friedrich Merz, says Berlin is willing to supply Ukraine with Taurus missiles, as he emphasized the need to help Kyiv in its conflict with Russia.
4. How China Used Vietnam To Evade Higher U.S. Tariffs — CNBC
A portion of Vietnam’s rising exports to the U.S. may be Chinese products rerouted to evade higher tariff rates. According to a research paper from Harvard Business School, evidence of this comes from trade data collected after 2018, as a U.S.-China trade war escalated.
Edmund Malesky, a Duke University professor of political science and one of the authors of the Harvard paper, estimates that 84% of Vietnam’s increase in manufacturing activity was value-added production. “But there’s a smaller part, maybe 16%, depending on how you measure it, which is rerouting, which became a concern for the United States,” Malesky said.
5. China And Vietnam Sign Flurry Of Cooperation Deals Amid US Tarriff Tensions — France 24
China and Vietnam signed dozens of cooperation agreements Monday after President Xi Jinping called for stronger ties on trade and supply chains between the two Communist-run nations on a visit to Hanoi.
Xi's Asia trip includes visits to Malaysia and Cambodia as Beijing seeks to reinforce regional ties amid a trade war unleashed by his US counterpart Donald Trump.
6. Trump Says Xi, Vietnam ‘Trying To Screw The U.S.’ — TIPP Insights
Chinese President Xi Jinping met with Vietnamese leaders in Hanoi on Monday, calling for unity against “unilateral bullying” by the U.S. tariffs imposed by Donald Trump.
Xi’s visit, marked by a 21-cannon salute, comes as China positions itself as a stable trade partner amid what it calls "erratic U.S. policy" under President Donald Trump.
Meanwhile, Trump dismissed the talks, telling reporters: “I don’t blame China. I don’t blame Vietnam. They are trying to figure out how do we screw the United States of America,” adding that the European Union “was formed to hurt the United States on trade.”
7. How China Went From Courting Trump To ‘Never Yield’ Tariff Defiance — Reuters
China has put civilian government officials in Beijing on “wartime footing” and ordered a diplomatic charm offensive aimed at encouraging other countries to push back against U.S. President Donald Trump’s tariffs, according to four people familiar with the matter.
Communist Party propaganda officials have played a leading role in framing China’s response, one of the people said, with government spokespeople posting defiant clips on social media featuring former leader Mao Zedong saying “we will never yield.”
8. U.K. Officials OK Seizing British Steel's Chinese-Owned Scunthorpe Plant — UPI
The U.K. Parliament authorized the government to seize control of the Chinese-owned British Steel plant in Scunthorpe to prevent its closure and the loss of up to 2,700 jobs.
Members of Parliament approved a government takeover of the steel plant that is owned by Chinese firm Jingye during an emergency session Saturday morning to stop its owners from shutting down two blast furnaces and ending steel production in the United Kingdom, the BBC reported.
9. Japan Not To Compromise In Rush To Wrap Up Tariff Talks With U.S.: PM — Kyodo
Prime Minister Shigeru Ishiba said Monday Japan will not make compromises for the purpose of quickly concluding upcoming tariff negotiations with the United States, underlining the importance of exploring how the longtime allies can cooperate.
In parliament, Ishiba said he is not thinking about imposing retaliatory tariffs on the United States, which has hiked import duties on cars, steel and aluminum, and imposed "reciprocal" tariffs on its trading partners.
10. Why Trump’s Nuclear Talks With Iran Could Be Far More Successful Than Biden’s — CNBC
U.S.-Iran talks over Tehran’s nuclear program in Oman ended with notable reports of optimism and mutual respect, representatives of both countries said.
Iran is in a significantly more vulnerable position than it was during former President Joe Biden’s tenure, which failed to produce results in negotiations. Deep distrust remains between the two sides, and Iran hawks — in particular, U.S. ally Israel — are displeased that the negotiations are taking place.
11. How Sweden’s Multicultural Dream Went Fatally Wrong — The Telegraph
Why, in a land that prides itself on welcoming migrants, are so many gang members from migrant communities? And is Swedish society the ultimate culprit, or the migrant communities themselves?
It is a question that the rest of Sweden’s 10 million citizens are now asking too, in the wake of a decade-long surge of violence that peaked at 62 deadly shootings in 2022. That was twice the figure for England and Wales, which have six times the population, and ranked Sweden second only to Albania that year for gun deaths per capita in Europe.
12. Spotlight On Lockheed Martin F-35 Stealth Fighter Orders — TIPP Insights
A number of significant deals have been inked with the U.S. to buy the F-35, either to expand existing fleets or to replace old aircraft with the fifth-generation fighter.
13. Algeria Orders Expulsion Of 12 French Embassy Officials, Reigniting Tensions — France 24
Algeria has ordered 12 French embassy officials to leave the country within 48 hours, French Foreign Minister Jean-Noël Barrot said Monday.
The move appears to be a response to the arrest of three Algerians in France suspected of involvement in the kidnapping of exiled influencer and Algerian government opponent Amir Boukhours, also known as "Amir DZ".
14. U.S. Could Send Violent Offenders To El Salvador's Mega-Prison, If Law Permits — TIPP Insights
President Donald Trump said he’s open to sending U.S. prisoners — including naturalized citizens who commit violent crimes — to El Salvador’s high-security Terrorism Confinement Center (CECOT), if legally possible.
“We have homegrown criminals who push people into subways... I'd like to include them,” Trump told reporters, adding, “I’m all for it.” CECOT, built by El Salvador President Nayib Bukele, is the largest prison in the Americas, designed to hold up to 40,000 of the region’s most dangerous offenders.
15. Hungary Passes Constitutional Amendment To Ban LGBTQ+ Public Events, Seen As A Major Blow To Rights — AP
Hungary’s parliament on Monday passed an amendment to the constitution that allows the government to ban public events by LGBTQ+ communities, a decision that legal scholars and critics call another step toward authoritarianism by the populist government.
The amendment, which required a two-thirds vote, passed along party lines with 140 votes for and 21 against. It was proposed by the ruling Fidesz-KDNP coalition led by populist Prime Minister Viktor Orbán.
16. South Africa Appoints Special Envoy To Ease US Relations — BBC
South Africa has appointed a special envoy to the US in an effort to ease tensions between the two countries, which have worsened since Donald Trump's return as president.
President Cyril Ramaphosa announced Mcebisi Jonas's selection, adding that he would be "entrusted with [advancing] South Africa's diplomatic, trade and bilateral priorities".
17. Ecuadorian President Daniel Noboa Wins Re-Election — UPI
Ecuadorian President Daniel Noboa won re-election, based on preliminary results in Sunday's presidential election.
With 90% of the ballots counted Sunday, National Electoral Council president Diana Atamaint declared Noboa the winner, announcing a turnout of 83.76%, "exceeding the percentage from the first round."
18. Brazil's Bolsonaro In Intensive Care After Emergency Abdominal Surgery — France 24
Brazil's far-right former president Jair Bolsonaro was recovering in intensive care on Monday after he underwent a successful intestinal surgery in Brasilia on Sunday.
The marathon 12-hour operation was carried out after Bolsonaro was hospitalised for "unbearable" pain linked to a 2018 stabbing attack.
19. Senator Says Florida Will Lead US Efforts To Hold Bitcoin As A Strategic Reserve — Crypto Slate
Senator Joe Gruters said Florida is positioned to lead the nation in integrating Bitcoin (BTC) into state-level financial reserves.
In remarks made during an interview with Florida Blockchain Business Association founder Samuel Armes, Gruters highlighted that his legislative vision is to incorporate Bitcoin into public financial infrastructure as part of a broader economic policy framework centered on inflation protection and fiscal autonomy.
Gruters said Florida will embrace Bitcoin, expressing confidence that the state will become "the place to be" for crypto enthusiasts.
20. Pfizer Ends Development Of Weight-Loss Pill After Patient's Liver Injury — Health News
Pfizer on Monday announced it is halting development of a daily weight loss pill after one patient experienced a liver injury and previous problems with other pill versions.
The pharmaceutical company based in New York City had been studying danuglipron since 2022.
