December 19, 2025 • 12 mins
-
Inflation Drop as a Surprise
- Inflation fell sharply to 2.7%, described as a “tumble” rather than a gradual decline.
- This is a direct contradiction to warnings from economists and political opponents who predicted Trump’s policies would cause inflation to spike.
-
Energy Dominance
- Major factor behind falling inflation.
- Trump administration rolled back federal barriers, accelerated drilling approvals, and signaled a return to energy independence.
- Lower energy costs reduced transportation, manufacturing, and distribution expenses, creating economy-wide benefits.
-
Tariffs and Trade Policy
- Critics claimed tariffs would raise consumer prices and cause supply chain chaos.
- Document asserts the opposite happened:
- Foreign producers absorbed costs.
- No empty shelves or shortages.
- American manufacturing expanded, reducing reliance on foreign inputs.
- Tariffs framed as “targeted leverage” restoring fairness without harming consumers.
-
Deregulation
- Reduced compliance costs and bureaucratic delays.
- Businesses saved money, accelerated product delivery, hired more workers, and kept prices lower.
- Introduces concept of “invisible inflation”—costs from regulation that Trump eliminated.
-
Confidence & Market Psychology
- Inflation partly psychological; Trump restored confidence.
- Businesses invested, consumers stopped panic buying, markets stabilized.
- Fiscal discipline signals (cutting wasteful spending, controlling federal programs) reassured investors.
-
Overall Impact
- Inflation decline attributed to:
- Energy independence.
- Smart tariffs.
- Deregulation.
- Confidence restoration.
- Fiscal restraint.
- It's a “gigantic win” for lower and middle-class families.
- Inflation decline attributed to:
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:01):
The insurance companies own the Democrat Party.
Speaker 2 (00:06):
They own it, and the Democrats having a hard time.
They give a lot of money to the Democrats, very.
Speaker 3 (00:11):
Little money to Republicans, by the way, a lot of
money to Democrats. And they're gonna have to decide do
they want to do the right thing or do.
Speaker 2 (00:19):
They want to be behould into the insurance companies.
Speaker 3 (00:24):
They make it a fortune.
Speaker 2 (00:25):
You're listening to the forty seven Morning Update with Ben ferguson.
Speaker 3 (00:29):
Good Friday morning.
Speaker 1 (00:30):
It's so nice to have you with us on the
forty seven Morning Update, and this episode is going to
deal with some great news for all of us. It
is a huge victory and an inflation crushed by Donald
Trump's policies, delivering at two point seven percent. No one
(00:51):
saw it coming, including CNBC, who even gasped at the
numbers after they were released. So how did Donald Trump
do it?
Speaker 3 (00:58):
We'll explain it all.
Speaker 1 (01:00):
But first I want to tell you about an amazing
opportunity right now that I'm involved in and I cannot
wait for you to take advantage of it. I want
you to take some incredible courses at Hillsdale College for free.
You may not know this, but Hillsdale College has been
influencing conservatives like myself for decades. They had a huge
(01:22):
impact on Charlie Kirk's life, and even as memorial service,
they talked about how Charlie took class after class after
class at Hillsdale College. Hillsdale College is now offering for you,
the listeners of this show, more than forty free I
want to say that again, free online courses. That's right,
(01:42):
more than forty free online courses. You can learn about
the works of C. S. Lewis, the stories in the
Book of Genesis, the meaning of the US Constitution, the
rise and fall of the Roman Republic, or the history
of the ancient Christian Church, all with Hillsdale College's free
online courses. Right now, I'm personally taking the Constitution one
(02:06):
oh one, and this course you're going to exploit the
design and the purpose of the Constitution, the challenge is
it faced during the Civil War and how it has
been undermined for more than a century by radical progressives
and liberals.
Speaker 3 (02:21):
This twelve lecture course is self pace.
Speaker 1 (02:24):
It's another reason why I love it so start whenever
and wherever in our country. We need more Americans like
you and I than understand the Constitution and can defend
the freedom of the American people against the left, and
they're increasing encroachments on our God given rights. So start
your classes today for free. Start your free Constitution one
(02:46):
oh one course right now.
Speaker 3 (02:48):
How do you do it?
Speaker 1 (02:49):
Go to Hillsdale dot edu slash Morning Update to enroll
and it's no cost.
Speaker 3 (02:57):
It's easy to get started.
Speaker 1 (02:58):
You got to use a special website Hillsdale dot edu
slash Morning Update. En role for free Hillsdale dot edu
slash Morning Update. It's the forty seven Morning Update and
it starts right now.
Speaker 2 (03:12):
Story number one.
Speaker 1 (03:13):
Could it be that the media and the Democrats got
it wrong yet again on the economy. The same people
that try to convince you that there was no such
thing as Biden inflation, and instead they want you to
believe that the economy was incredible shape when Joe Biden
was in office. Well, once Donald Trump got elected, they
want you to believe everything is terrible. Well guess what,
(03:36):
now there's more data show they're just a bunch of liars.
And this time it was bigger than even conservatives could
have imagined. There was a sharp and honestly a unexpected tumble,
not a decline, but a tumble in inflation to two
point seven percent is more than just positive data point.
(03:58):
It's a clear review of the economic pessimism pushed by
critics of President Donald Trump.
Speaker 3 (04:04):
It's also a powerful validation.
Speaker 1 (04:07):
Of Trump policies that his administration has been advancing. Saying,
trust me, it's going to work. The White House was
absolutely right. For months, economists and political opponents of Donald
Trump have warned that Trump's aggressive economic agenda, including the
tariffs that have brought in record dollars to the US,
(04:28):
the energy expansion, deregulation, and pressure on global trade partners,
would fuel, as they described it, inflation. Instead, the opposite
has happened. Inflation not only did it not spike, it
fell in a major way, and it fell faster than anyone,
(04:48):
including those at the White House, were even willing to mention,
much less claim it was going to become a reality.
Energy dominance is doing exactly by the way, what Donald
Trump said it was going to do. One of the
biggest drivers behind the falling inflation is energy prices, and
this is where Trump's policies are having an outsized impact.
(05:11):
Under Trump, federal barriers to domestic oil and gas production
have been rolled back, leasing and drilling approvals have accelerated.
The administration signaled clearly that America would return to energy
independence in even a bigger way than it did when
he was in office the first time. That confidence alone
(05:31):
stabilized the markets, and then when supply expectations rise, prices
fall not just at the pump but across the entire economy,
which is exactly what we are now witnessing having a
huge impact on inflation.
Speaker 3 (05:46):
Lower energy costs, reduced.
Speaker 1 (05:47):
Transportation expenses, manufacturing input costs, and grocery distribution prices. All
of that good for the economy. As President Trump said
on the Campain Trail, energy and the price touches everything
Trump understood that from day one, and inflation numbers are
(06:08):
now proving him to be exactly right. We also know
that the media and the Democrats lied to you about
the tariffs. They said over and over and over again,
the tariffs were going to cause massive inflation. They said
that shelves would be empty at places like Target, Walmart, Costco,
(06:28):
and Sam's Club. That also never happened. One of the
loudest criticisms of President Trump's economic strategy was by the
left of the media. And they said the tariffs would
not only raise consumer prices, but there would be massive
supply chain issues. They then said that would make inflation
skyrocket even more. That argument has also now flat out collapsed.
(06:53):
What actually happened is this, the tariffs pressured foreign producers
to actually absorb the cost us that did not get
passed on to Americans. The way that the left tried
to claim supply chains adjusted instead of breaking again, no
empty shelves and no backlogs of basic necessities that Americans need.
(07:15):
That was also a lie. It also had another huge impact.
American manufacturing expanded rapidly, reducing the reliance on volatile foreign inputs,
something the President said was a part of us having
security and safety literally on a national security forefront. Instead
of inflation spiraling upwards, which the left in the media
(07:38):
said was a guaranteed thing, prices stabilized and markets recalibrated.
Trump's tariffs weren't random, they were targeted leverage, forcing fairness
and restoring balance. Inflation falling to two point seven percent
shows that smart trade and enforcement doesn't punish the consumers,
(08:01):
it actually protects them. And then the issue of deregulation,
that is something that had a huge impact on the
numbers we're witnessing right now. Deregulation reduce hidden inflation, and
Americans have never been able to see the receipts before
until Trump got into office. Inflation isn't just about sticker prices.
(08:22):
It's also about compliance costs, regulatory delays, and bureaucratic drag
from a government that just got way too big. Trump
administration said, Hey, we're going to cut thousands of pages
of federal regulations. We're going to reduce permitting delays. We're
going to lower compliance costs for small and medium sized
(08:43):
businesses with something else they said was vitally important. And
when businesses spend less money navigating Washington, that's when you
get what we're witnessing right now.
Speaker 3 (08:54):
Products that are faster the market. They end up hiring.
Speaker 1 (08:57):
More people and they keep prices lower. This invisible inflation,
as the White House described it, rarely makes headlines, but
removing it has a real, end measured effect. The two
point seven percent inflation figure reflects those savings working their
way through the economy, and then it comes down to
(09:19):
confidence has returned to the marketplace and the markets have
actually responded. Inflation is also psychological. When consumers and businesses
believe prices will rise, they behave in ways that make
it happen well. Trump's leadership clearly restored economic confidence. Businesses
began investing again, consumers stopped panic buying, markets adjusted expectations downwards.
(09:46):
That confidence reduces volatility, and volatility is a major inflation driver.
Washington elites expected chaos, the markets and the people saw
clarity and they understood the rules of the game because
of a president that was transparent, which brings us to
fiscal discipline, and that was reassuring itself to the American people.
(10:10):
A renewed emphasis on fiscal restraint of our government DOGE
was a large part of that. Again, made people feel
more confident in their government. Trump is consistently pushed for
cutting wasteful spending, targeted bloated bureaucracies, and challenged runaway federal programs.
Speaker 3 (10:28):
Even the signal of restraint matters.
Speaker 1 (10:31):
When investors and lenders believe government spending will be controlled,
inflation expectations drop, which is exactly what we're seeing now.
All of this has turned into one thing. Now it's
showing in the real numbers. So what is the massive
takeaway from this This is a gigantic win for every American,
(10:51):
especially lower and middle class American families. The drop in
inflation to two point seven percent didn't happen by accident,
and it didn't happen despite Donald Trump's policies. It happened
because of Donald Trump's policies. Energy dominance, lowered costs, economy
wide tariffs, restored balance without triggering price spikes. Deregulation reduced
(11:16):
hidden inflation, confidence, return to the markets, fiscal discipline, signal stability.
The so called experts yet again predicted disaster. The data
delivered a reality check to them. So this inflation report
isn't just good news. It's proof that Trump's economic playbook
works even under intense political and global pressure. Thank goodness,
(11:41):
we have a present that's willing to stay the course
and not chase an approval rating number.
Speaker 3 (11:47):
And now what we're witnessing is the real.
Speaker 1 (11:48):
Effects of what Trump's economy is at the end of
his first year. And now you know what to expect
moving into twenty twenty six.
Speaker 2 (11:57):
Thank you for listening to the forty seven Morning Updates
with Ben Ferguson. Please make sure you hit subscribe wherever
you're listening to this podcast right now and for more
in depth news, also subscribe to the Ben Ferguson podcast
and we will see you back here tomorrow
The insurance companies own the Democrat Party.
Speaker 2 (00:06):
They own it, and the Democrats having a hard time.
They give a lot of money to the Democrats, very.
Speaker 3 (00:11):
Little money to Republicans, by the way, a lot of
money to Democrats. And they're gonna have to decide do
they want to do the right thing or do.
Speaker 2 (00:19):
They want to be behould into the insurance companies.
Speaker 3 (00:24):
They make it a fortune.
Speaker 2 (00:25):
You're listening to the forty seven Morning Update with Ben ferguson.
Speaker 3 (00:29):
Good Friday morning.
Speaker 1 (00:30):
It's so nice to have you with us on the
forty seven Morning Update, and this episode is going to
deal with some great news for all of us. It
is a huge victory and an inflation crushed by Donald
Trump's policies, delivering at two point seven percent. No one
(00:51):
saw it coming, including CNBC, who even gasped at the
numbers after they were released. So how did Donald Trump
do it?
Speaker 3 (00:58):
We'll explain it all.
Speaker 1 (01:00):
But first I want to tell you about an amazing
opportunity right now that I'm involved in and I cannot
wait for you to take advantage of it. I want
you to take some incredible courses at Hillsdale College for free.
You may not know this, but Hillsdale College has been
influencing conservatives like myself for decades. They had a huge
(01:22):
impact on Charlie Kirk's life, and even as memorial service,
they talked about how Charlie took class after class after
class at Hillsdale College. Hillsdale College is now offering for you,
the listeners of this show, more than forty free I
want to say that again, free online courses. That's right,
(01:42):
more than forty free online courses. You can learn about
the works of C. S. Lewis, the stories in the
Book of Genesis, the meaning of the US Constitution, the
rise and fall of the Roman Republic, or the history
of the ancient Christian Church, all with Hillsdale College's free
online courses. Right now, I'm personally taking the Constitution one
(02:06):
oh one, and this course you're going to exploit the
design and the purpose of the Constitution, the challenge is
it faced during the Civil War and how it has
been undermined for more than a century by radical progressives
and liberals.
Speaker 3 (02:21):
This twelve lecture course is self pace.
Speaker 1 (02:24):
It's another reason why I love it so start whenever
and wherever in our country. We need more Americans like
you and I than understand the Constitution and can defend
the freedom of the American people against the left, and
they're increasing encroachments on our God given rights. So start
your classes today for free. Start your free Constitution one
(02:46):
oh one course right now.
Speaker 3 (02:48):
How do you do it?
Speaker 1 (02:49):
Go to Hillsdale dot edu slash Morning Update to enroll
and it's no cost.
Speaker 3 (02:57):
It's easy to get started.
Speaker 1 (02:58):
You got to use a special website Hillsdale dot edu
slash Morning Update. En role for free Hillsdale dot edu
slash Morning Update. It's the forty seven Morning Update and
it starts right now.
Speaker 2 (03:12):
Story number one.
Speaker 1 (03:13):
Could it be that the media and the Democrats got
it wrong yet again on the economy. The same people
that try to convince you that there was no such
thing as Biden inflation, and instead they want you to
believe that the economy was incredible shape when Joe Biden
was in office. Well, once Donald Trump got elected, they
want you to believe everything is terrible. Well guess what,
(03:36):
now there's more data show they're just a bunch of liars.
And this time it was bigger than even conservatives could
have imagined. There was a sharp and honestly a unexpected tumble,
not a decline, but a tumble in inflation to two
point seven percent is more than just positive data point.
(03:58):
It's a clear review of the economic pessimism pushed by
critics of President Donald Trump.
Speaker 3 (04:04):
It's also a powerful validation.
Speaker 1 (04:07):
Of Trump policies that his administration has been advancing. Saying,
trust me, it's going to work. The White House was
absolutely right. For months, economists and political opponents of Donald
Trump have warned that Trump's aggressive economic agenda, including the
tariffs that have brought in record dollars to the US,
(04:28):
the energy expansion, deregulation, and pressure on global trade partners,
would fuel, as they described it, inflation. Instead, the opposite
has happened. Inflation not only did it not spike, it
fell in a major way, and it fell faster than anyone,
(04:48):
including those at the White House, were even willing to mention,
much less claim it was going to become a reality.
Energy dominance is doing exactly by the way, what Donald
Trump said it was going to do. One of the
biggest drivers behind the falling inflation is energy prices, and
this is where Trump's policies are having an outsized impact.
(05:11):
Under Trump, federal barriers to domestic oil and gas production
have been rolled back, leasing and drilling approvals have accelerated.
The administration signaled clearly that America would return to energy
independence in even a bigger way than it did when
he was in office the first time. That confidence alone
(05:31):
stabilized the markets, and then when supply expectations rise, prices
fall not just at the pump but across the entire economy,
which is exactly what we are now witnessing having a
huge impact on inflation.
Speaker 3 (05:46):
Lower energy costs, reduced.
Speaker 1 (05:47):
Transportation expenses, manufacturing input costs, and grocery distribution prices. All
of that good for the economy. As President Trump said
on the Campain Trail, energy and the price touches everything
Trump understood that from day one, and inflation numbers are
(06:08):
now proving him to be exactly right. We also know
that the media and the Democrats lied to you about
the tariffs. They said over and over and over again,
the tariffs were going to cause massive inflation. They said
that shelves would be empty at places like Target, Walmart, Costco,
(06:28):
and Sam's Club. That also never happened. One of the
loudest criticisms of President Trump's economic strategy was by the
left of the media. And they said the tariffs would
not only raise consumer prices, but there would be massive
supply chain issues. They then said that would make inflation
skyrocket even more. That argument has also now flat out collapsed.
(06:53):
What actually happened is this, the tariffs pressured foreign producers
to actually absorb the cost us that did not get
passed on to Americans. The way that the left tried
to claim supply chains adjusted instead of breaking again, no
empty shelves and no backlogs of basic necessities that Americans need.
(07:15):
That was also a lie. It also had another huge impact.
American manufacturing expanded rapidly, reducing the reliance on volatile foreign inputs,
something the President said was a part of us having
security and safety literally on a national security forefront. Instead
of inflation spiraling upwards, which the left in the media
(07:38):
said was a guaranteed thing, prices stabilized and markets recalibrated.
Trump's tariffs weren't random, they were targeted leverage, forcing fairness
and restoring balance. Inflation falling to two point seven percent
shows that smart trade and enforcement doesn't punish the consumers,
(08:01):
it actually protects them. And then the issue of deregulation,
that is something that had a huge impact on the
numbers we're witnessing right now. Deregulation reduce hidden inflation, and
Americans have never been able to see the receipts before
until Trump got into office. Inflation isn't just about sticker prices.
(08:22):
It's also about compliance costs, regulatory delays, and bureaucratic drag
from a government that just got way too big. Trump
administration said, Hey, we're going to cut thousands of pages
of federal regulations. We're going to reduce permitting delays. We're
going to lower compliance costs for small and medium sized
(08:43):
businesses with something else they said was vitally important. And
when businesses spend less money navigating Washington, that's when you
get what we're witnessing right now.
Speaker 3 (08:54):
Products that are faster the market. They end up hiring.
Speaker 1 (08:57):
More people and they keep prices lower. This invisible inflation,
as the White House described it, rarely makes headlines, but
removing it has a real, end measured effect. The two
point seven percent inflation figure reflects those savings working their
way through the economy, and then it comes down to
(09:19):
confidence has returned to the marketplace and the markets have
actually responded. Inflation is also psychological. When consumers and businesses
believe prices will rise, they behave in ways that make
it happen well. Trump's leadership clearly restored economic confidence. Businesses
began investing again, consumers stopped panic buying, markets adjusted expectations downwards.
(09:46):
That confidence reduces volatility, and volatility is a major inflation driver.
Washington elites expected chaos, the markets and the people saw
clarity and they understood the rules of the game because
of a president that was transparent, which brings us to
fiscal discipline, and that was reassuring itself to the American people.
(10:10):
A renewed emphasis on fiscal restraint of our government DOGE
was a large part of that. Again, made people feel
more confident in their government. Trump is consistently pushed for
cutting wasteful spending, targeted bloated bureaucracies, and challenged runaway federal programs.
Speaker 3 (10:28):
Even the signal of restraint matters.
Speaker 1 (10:31):
When investors and lenders believe government spending will be controlled,
inflation expectations drop, which is exactly what we're seeing now.
All of this has turned into one thing. Now it's
showing in the real numbers. So what is the massive
takeaway from this This is a gigantic win for every American,
(10:51):
especially lower and middle class American families. The drop in
inflation to two point seven percent didn't happen by accident,
and it didn't happen despite Donald Trump's policies. It happened
because of Donald Trump's policies. Energy dominance, lowered costs, economy
wide tariffs, restored balance without triggering price spikes. Deregulation reduced
(11:16):
hidden inflation, confidence, return to the markets, fiscal discipline, signal stability.
The so called experts yet again predicted disaster. The data
delivered a reality check to them. So this inflation report
isn't just good news. It's proof that Trump's economic playbook
works even under intense political and global pressure. Thank goodness,
(11:41):
we have a present that's willing to stay the course
and not chase an approval rating number.
Speaker 3 (11:47):
And now what we're witnessing is the real.
Speaker 1 (11:48):
Effects of what Trump's economy is at the end of
his first year. And now you know what to expect
moving into twenty twenty six.
Speaker 2 (11:57):
Thank you for listening to the forty seven Morning Updates
with Ben Ferguson. Please make sure you hit subscribe wherever
you're listening to this podcast right now and for more
in depth news, also subscribe to the Ben Ferguson podcast
and we will see you back here tomorrow
Host
Ben Ferguson
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