Trump exhibits false economic claims in front of cryptomite

On Friday, the White House held its first “CRIPTO Summit”, gathering the top of the EKECS from the companies of digital funds on how the Trump administration plans to undo the bidden administration torch on the crypt.

But participants reportedly leave a feeling of defusion. Here are where prices in the last 24 hours:

The event came three days after Trump the first address of the Congress, because he returned to the function, in which several statements, including one of the economy not aligned with facts.

“As you know, we inherited the economic catastrophe and inflation crisis from the previous administration” Trump listed.

Here are the facts

Gross domestic product: Under Trump’s predecessor, Joe Biden, real GDP growth on average is about 3.4% on average, including 2.5% growth in 2023. years. Compare that for Trump’s first term: not counting the covers-19 pandemic 2020. – Economy experienced an average annual real growth in GDP of about 2.5%. By 2020. year, the pandemic has led to significant contraction and resulted in a total average annual growth rate of about 1.6% for Trump’s mandate.

Inflation: Trump claimed that the United States is facing “the worst inflation we’ve ever had.” However, it is incorrect – the last inflation is 1981. exceeded 9%, and it was much higher in different points in the US history. Really, prices increased significantly during the initial two years of the binina presidency, reaching high from 9.1% in June 2022. until December 2024. years, the annual inflation rate was 2.9%.

S & P 500 Performance: Since Biden’s Inauguration 20. January 2021, S & P 500 has cross In approximately 50%, despite the decline in 19% from 2022. years due to increased interest rates of federal reserves directed to fight inflation.

Dow Jones Industrial Averages (DJIA): Djia surpassed several significant milestones during Biden’s term, including:

• Switching to 30,000 points 24. November 2020. years – about 20 days after the selected selected.
• Reaching 35,000 points 23. July 2021. Years.
• Outreacting 40,000 points 17. May 2024. Years.

Under the truth currently consumer confidence outplay; Just stock suffered their worst week in six months (h / t forbes); and inflation aggravated.

As for the CRIPT, it is still a mystery that Trump plans to pay a digital property warehouse that is currently in deeds. Will it pick up taxes? We are told It would “have no incremental costs on US taxpayers.”

No wonder why Republicans and Democrats are concerned. Look down.

It is worth noting that Krupto Summit 7. March comes less than two months after Trump and some of his family members launched their memecoins.

Large guns crypto (ie Michael Sailor, General Manager of Coins Brian Armstrong, General Manager of Robinstva Vlad Tenev). It was a clear change in relation to Binda Erom, when the Securities and Exchange Commission drew the Ira of those in the industry who considered Gari Gensler-Ledler-Ledler.

After all, not everyone in the industry was a fraud (although 2024 had a lot of The mat is pulled).

Today, these Honchos have Trump whose federal government is – according to to Axios’ Felix Salmon and Zachary Basu – they became a “primary chaos driver.” What could be wrong?