WASHINGTON — President Donald Trump said Tuesday that a “Trump economic boom” was underway, again giving short shrift to indicators of a still-sluggish economy as Republicans gear up to defend their House and Senate majorities this year.

Trump visited the Detroit Economic Club a few hours after new government data showed mixed signals about the state of stubbornly high prices, which rose by 0.3% between November and December; that was in line with the previous Bureau of Labor Statistics report, in September, which also showed a 0.3% uptick.

Prices overall rose 2.7% from a year ago, according to the BLS data. That marked a decline in the broader inflation rate, which stood at 3% when Trump returned to office last January. Food costs ticked up by 0.7% between November and December, while gas-related utility prices rose by 4.4%. The costs of housing, transportation, medical care and clothing were also up, while appliance prices fell by 4.3%.

Departing the White House on a cold Tuesday morning, Trump’s breath was visible as he asserted that his administration had brought down inflation.

“We have very low inflation. So that would give ‘Too Late Powell’ the chance to give us a nice, beautiful, big rate cut, which would be great for the country,” the president said, using a derisive nickname for Federal Reserve Chair Jerome Powell. “But rates are falling also, and growth is going up. We have tremendous growth numbers.”

Powell disclosed Sunday evening that the Justice Department was investigating his testimony before Congress last year about a major renovation project on the central bank’s campus. “The threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the president,” Powell said in a video statement.

On Tuesday, in the face of rare GOP pushback, Trump appeared open to the possibility that the Fed boss did not break any laws when he testified. “He’s billions of dollars over budget. So, he either is incompetent, or he is crooked. I don’t know what he is, but he certainly doesn’t do a very good job,” Trump told reporters.

The president’s visit to battleground Michigan — which he won narrowly in 2016 and 2024 but lost in 2020 — came as voters continue to express worries about the state of the economy. A recent Morning Consult tracking poll found 45% of respondents approving of Trump’s economic stewardship, while 53% disapproved. A Jan. 2-5 Economis/YouGov poll showed 36% approving of Trump’s handling of the economy, with 57% disapproving.

Here are four takeaways from what Trump dubbed a “big speech” Tuesday.

‘Trump economic boom’

The economist in chief sold the morning’s pricing data as proof that his policies are working, saying his political critics’ warnings about affordability were the product of a “fake word” invented by Democrats.

“We’re going to have a lot of great months, a lot of great quarters,” he said. “By almost every metric, we have quickly gone from the worst numbers on record to the best and strongest numbers, the most dynamic numbers and an economy that is far ahead of even my optimistic (schedule.)”

He contended that the country was in the middle of what he dubbed the “Trump economic boom.”

He took shots at California Gov. Gavin Newsom, who has made no secret of his interest in seeking the 2028 Democratic presidential nomination: “The governor of California likes to say how well he’s doing. California is doing horrendously.”

The same went for his predecessor, with Trump saying former President Joe Biden and congressional allies “inflicted the economic nightmare known as stagflation.”

Rogers shout-out

The Republican Party leader gave a shout-out to former GOP Rep. Mike Rogers, who is seeking the Senate seat being vacated by Michigan Democrat Gary Peters.

“He’ll be a great senator,” Trump said of Rogers. “He was a great congressman, and then he left. He went on to very big things. He did well, no matter where he was.”

Before making more false claims about his 2020 election loss, Trump looked in what appeared to be Rogers’ direction and claimed without providing any evidence: “I think they took that away from you last time. I’ll be honest with you, Mike. … They rigged the election.” Rogers narrowly lost a bid for the state’s other Senate seat in 2024 to Democrat Elissa Slotkin.

Trump also applauded the state’s GOP congressional delegation, though they were back in Washington for votes.

Notably, he name-checked Rep. John James, who is running to succeed term-limited Democratic Gov. Gretchen Whitmer. James and the other Michigan Republicans were “great people,” Trump said.

‘Stiff in the Fed’

Onstage in Detroit, Trump blamed the Federal Reserve for periods of economic instability — though he did not name Powell.

“We have a real stiff in the Fed. That’s for another day,” he said, seemingly referring to the chair. “So everyone says, ‘Oh, they announced great numbers. It’s great, great, great.’ And the market goes down because they immediately raise rates.”

With Powell’s stint as Fed chair set to end in May, Trump said of his coming nominee: “I want somebody that when the market is doing great, interest rates can go down because our country becomes stronger.”

Following Powell’s revelation Sunday of the DOJ probe, House Budget ranking member Brendan F. Boyle accused the president of “throwing a tantrum because the Federal Reserve and Jerome Powell won’t do his bidding.”

“By weaponizing the Department of Justice to intimidate a nonpartisan Fed chair, Trump is undermining the independence of the central bank, which will weaken our economy and destabilize markets,” the Pennsylvania Democrat said.

‘Keep protesting’

Trump’s visit to the Motor City came after he spent much of his first year back at the White House, traveling abroad or to one of his resorts. Late last year, he made stops in Pennsylvania and North Carolina trying to sell voters on his 2025 achievements.

Still, foreign policy matters have continued to hang over the “America First” president, a focus that has drawn the ire within his MAGA base, including from former Georgia Rep. Marjorie Taylor Greene, who resigned last week.

“Iranian Patriots, KEEP PROTESTING – TAKE OVER YOUR INSTITUTIONS!!! Save the names of the killers and abusers. They will pay a big price. I have cancelled all meetings with Iranian Officials until the senseless killing of protesters STOPS. HELP IS ON ITS WAY,” Trump said on social media Tuesday morning about the protests in Iran, which were sparked by poor economic conditions. The president did not elaborate on what that help would look like.

Trump has in recent days warned Iranian leaders against lashing out at the protesters, but reports from inside the Islamic Republic suggest they have not heeded such warnings.

Democrats, meanwhile, continue to accuse Trump of focusing on foreign policy matters at the expense of domestic priorities.

“It’s clear that Donald Trump is unserious about strengthening our economy,” California Rep. Pete Aguilar, the No. 3 House Democrat, told reporters Tuesday. “Or making life more affordable for the American people.”

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