Ex-Treasury official says Trump's economic policies set to pay off this year

Economic Performance and Policies - The former deputy secretary of the U.S. Department of Treasury, Michael Faulkender, asserts that it is premature to question President Trump's economic record, emphasizing the foundation laid for future growth [1] - Faulkender believes that the changes made during the first year of the administration will counter Democratic criticisms regarding the effectiveness of a Republican governing trifecta in reducing prices [2] - The administration's signature legislation, the Big Beautiful Bill Act, introduced significant tax cuts and relief measures, which Faulkender claims have positively impacted the economy [5] Energy Sector Impact - The Trump administration reversed several energy-related executive orders from the Biden administration that limited oil production on federal land, which Faulkender argues will benefit the economy [6] - Current oil prices are at $57 per barrel, having decreased nearly 28% from a high of $78.70 in January 2025, indicating a favorable environment for economic growth [9] Inflation Trends - Inflation rates have varied throughout the year, with the latest report showing a rate of 2.7% in November, while the lowest rate was 2.3% in April and a peak of 3% in September [9] - Faulkender suggests that the combination of low energy prices, deregulation, and pro-growth tax reforms are essential for fostering a strong economy without accompanying inflation [12]