Opinion

LIZ PEEK: The Trump economy is doing better than the media want to admit

CNBC survey shows 61% of the public remains pessimistic about the economy despite strong spending and wage data

By Liz Peek Fox News

Published July 21, 2026 5:00am EDT

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FOX Business host Larry Kudlow says innovation in high-tech and advanced manufacturing is driving an economic boom on ‘America Reports.’

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President Donald Trump has a good story to tell on the economy; he should be telling it, because it’s a sure bet the liberal media will not.

Consider the big picture: unemployment is low, real wages are rising, the stock market is high, investment is booming and inflation, though above the Federal Reserve’s target, came down last month, and will recede again once oil prices stabilize. (Inflation, most recently at 3.5%, and at 2.6% excluding volatile food and energy, is also significantly below the 4.95% recorded on average under President Joe Biden.)

More good news: the conservative Committee to Unleash Prosperity reports that during the first 16 months of Trump’s current term, real incomes for the lowest 25% of earners increased almost $2,100, while they actually shrank under Biden.

BESSENT CREDITS TRUMP IMMIGRATION POLICIES WITH HELPING RETURN JOBS TO AMERICANS AS WAGE GAINS RESUME

Additionally, the Bank of America Institute writes that "total credit and debit card spending rising 6.3% year-over-year (YoY) in June - the strongest growth in over four years." Importantly, the Institute further reports that "gaps in wage and spending growth across income groups narrowed."

President Donald Trump has touted the new "Trump Accounts" as giving children a better shot at achieving the "American Dream." (REUTERS/Kevin Lamarque)

Wait! Income inequality is actually........

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