Treasury Secretary Scott Bessent labeled Senator Elizabeth Warren (D-Mass.)an “inflationista” while releasing the “Trump Affordability Tracker” to counter her economic claims. Bessent published the data to directly contrast economic and cost-of-living metrics between the Donald Trump and Joe Biden administrations.
‘Statistical Sleight of Hand’
Bessent took to X to criticize Warren’s “Trumpflation” tracker, stating he was providing “Another day, another Econ 101 lesson for Professor Warren.” He argued her tracker “conveniently ignores the Bidenflation tidal wave that crushed American families” and “cherry-picks wage growth by refusing to acknowledge positive real wage gains” under President Trump.
He also accused her of swapping “official medical-care CPI data for premium projections when it suits her narrative.” Bessent dismissed her claims by writing, “The Harvard Square inflationista is offering a statistical sleight of hand, not a serious assessment of today’s U.S. economy.”
The Affordability Tracker Data
To provide what he called an “apples-to-apples comparison,” Bessent shared the “Trump Tracker: The Full Picture,” updated as of Oct. 9, 2026.
The graphic reports annualized core inflation at 2.5% under Trump, compared to 4.7% under Biden. The data show cumulative real weekly wages grew 1.5% during the Trump administration, compared with a 3.9% decrease under Biden.
The document also highlights a “Record Real Median Household Income” of $87,460 and cites the “Lowest Poverty Rate in History” at 10.2%.
Employment and Living Costs
Regarding the workforce, the tracker displays an increase of 1 million private sector jobs alongside a 328,000 reduction in the federal workforce.
A section titled “Cost Of Living Reality Check” outlines lower annualized price changes under Trump versus Biden for everyday expenses. According to the graphic, grocery inflation was 2.1% under Trump compared to 5.3% under Biden, while rent inflation stood at 3.0% under Trump versus 5.6% under Biden.
Furthermore, the chart notes that prescription drug prices dropped by 2.5% under Trump but rose by 2.2% under Biden, ultimately claiming a “Bidenflation Cost To Households” of over $30,000.
How Have the Stock Markets and Oil Performed?
The S&P 500 index has advanced 13.90% year-to-date. Similarly, the Nasdaq Composite index was up 17.78%, and the Dow Jones gained 6.76% YTD.
On Friday, the SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 and Nasdaq-100, respectively, closed higher. SPY rose 0.60% to $778.57, while QQQ advanced 0.49% to $751.27. Meanwhile, the Dow tracker, State Street SPDR Dow Jones Industrial Average ETF Trust (NYSE:DIA), ended 0.87% higher at $516.11.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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