1 00:00:01,720 --> 00:00:11,320 Speaker 1: Two million now and this few us anybody else, I'll 2 00:00:11,360 --> 00:00:17,279 Speaker 1: sign it and you'll get more events. Yes, maam two 3 00:00:17,320 --> 00:00:25,239 Speaker 1: million five, two million five five, two million five, two 4 00:00:25,239 --> 00:00:25,759 Speaker 1: million five. 5 00:00:25,840 --> 00:00:27,560 Speaker 2: This is this Listen. 6 00:00:29,040 --> 00:00:31,080 Speaker 1: Your husband looked, Anderson, what the hell is that? 7 00:00:31,200 --> 00:00:35,600 Speaker 2: On about time? You're listening to the forty seven Morning 8 00:00:35,680 --> 00:00:37,680 Speaker 2: Update with Ben ferguson. 9 00:00:37,320 --> 00:00:39,279 Speaker 3: Good Friday morning. It's so nice to have you with 10 00:00:39,360 --> 00:00:43,040 Speaker 3: us on the forty seven Morning Update. And this episode 11 00:00:43,240 --> 00:00:45,919 Speaker 3: is gonna deal with some great news for all of us. 12 00:00:46,600 --> 00:00:51,599 Speaker 3: It is a huge victory and an inflation crushed by 13 00:00:51,640 --> 00:00:58,240 Speaker 3: Donald Trump's policies delivering it two point seven percent. No 14 00:00:58,280 --> 00:01:02,440 Speaker 3: one saw it coming, including CNBC, who even gas at 15 00:01:02,520 --> 00:01:05,959 Speaker 3: the numbers after they were released. So how did Donald 16 00:01:06,000 --> 00:01:09,039 Speaker 3: Trump do it? We'll explain it all, But first I 17 00:01:09,080 --> 00:01:12,319 Speaker 3: want to tell you about an amazing opportunity right now 18 00:01:12,760 --> 00:01:16,080 Speaker 3: that I'm involved in and I cannot wait for you 19 00:01:16,160 --> 00:01:18,440 Speaker 3: to take advantage of it. I want you to take 20 00:01:18,520 --> 00:01:23,399 Speaker 3: some incredible courses at Hillsdale College for free. You may 21 00:01:23,400 --> 00:01:27,240 Speaker 3: not know this, but Hillsdale College has been influencing conservatives 22 00:01:27,280 --> 00:01:30,880 Speaker 3: like myself for decades. They had a huge impact on 23 00:01:30,959 --> 00:01:34,400 Speaker 3: Charlie Kirk's life and even as memorial service. They talked 24 00:01:34,400 --> 00:01:38,319 Speaker 3: about how Charlie took class after class after class at 25 00:01:38,400 --> 00:01:42,720 Speaker 3: Hillsdale College. Hillsdale College is now offering for you, the 26 00:01:42,800 --> 00:01:46,959 Speaker 3: listeners of this show, more than forty free I want 27 00:01:47,000 --> 00:01:50,760 Speaker 3: to say that again, free online courses. That's right, more 28 00:01:50,760 --> 00:01:54,480 Speaker 3: than forty free online courses. You can learn about the 29 00:01:54,520 --> 00:01:57,160 Speaker 3: works of C. S. 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It's another reason why 39 00:02:32,919 --> 00:02:36,760 Speaker 3: I love it. So start whenever and wherever in our country. 40 00:02:36,880 --> 00:02:40,040 Speaker 3: We need more Americans like you and I than understand 41 00:02:40,080 --> 00:02:43,440 Speaker 3: the Constitution and can defend the freedom of the American 42 00:02:43,480 --> 00:02:47,800 Speaker 3: people against the left and their increasing encroachments on our 43 00:02:48,080 --> 00:02:52,560 Speaker 3: God given rights. So start your classes today for free. 44 00:02:52,960 --> 00:02:55,760 Speaker 3: Start your free Constitution one oh one course right now. 45 00:02:56,120 --> 00:02:59,560 Speaker 3: How do you do it? Go to Hillsdale dot edu 46 00:03:00,360 --> 00:03:04,959 Speaker 3: slash Morning Update to enroll and it's no cost. It's 47 00:03:05,000 --> 00:03:07,800 Speaker 3: easy to get started. You got to use a special 48 00:03:07,840 --> 00:03:14,280 Speaker 3: website Hillsdale dot edu slash Morning Update. Enroll for free 49 00:03:14,440 --> 00:03:18,040 Speaker 3: Hillsdale dot edu slash Morning Update. It's the forty seven 50 00:03:18,080 --> 00:03:20,280 Speaker 3: Morning Update and it starts right now. 51 00:03:20,480 --> 00:03:21,520 Speaker 2: Story number one. 52 00:03:21,760 --> 00:03:25,040 Speaker 3: Could it be that the media and the Democrats got 53 00:03:25,040 --> 00:03:29,280 Speaker 3: it wrong yet again on the economy. The same people 54 00:03:29,280 --> 00:03:32,040 Speaker 3: that try to convince you that there was no such 55 00:03:32,120 --> 00:03:35,320 Speaker 3: thing as Biden inflation, and instead they want you to 56 00:03:35,320 --> 00:03:38,640 Speaker 3: believe that the economy was incredible shape when Joe Biden 57 00:03:38,720 --> 00:03:41,560 Speaker 3: was in office, Well, once Donald Trump got elected, they 58 00:03:41,600 --> 00:03:43,960 Speaker 3: want you to believe everything is terrible. Well guess what, 59 00:03:44,240 --> 00:03:46,920 Speaker 3: now there's more data show they're just a bunch of liars, 60 00:03:47,480 --> 00:03:51,240 Speaker 3: And this time it was bigger than even conservatives could 61 00:03:51,240 --> 00:03:57,040 Speaker 3: have imagined. There was a sharp and honestly an unexpected tumble, 62 00:03:57,480 --> 00:04:02,280 Speaker 3: not a decline, but a tumble. Inflation to two point 63 00:04:02,480 --> 00:04:06,839 Speaker 3: seven percent is more than just positive data point. It's 64 00:04:06,880 --> 00:04:10,840 Speaker 3: a clear rebuke of the economic pessimism pushed by critics 65 00:04:10,840 --> 00:04:15,840 Speaker 3: of President Donald Trump. It's also a powerful validation of 66 00:04:16,000 --> 00:04:20,280 Speaker 3: Trump policies that his administration has been advancing. Saying, trust me, 67 00:04:20,760 --> 00:04:24,120 Speaker 3: it's going to work. The White House was absolutely right. 68 00:04:24,640 --> 00:04:27,920 Speaker 3: For months, economists and political opponents of Donald Trump have 69 00:04:28,040 --> 00:04:33,160 Speaker 3: warned that Trump's aggressive economic agenda, including the tariffs that 70 00:04:33,160 --> 00:04:39,160 Speaker 3: have brought in record dollars to the US, the energy expansion, deregulation, 71 00:04:39,760 --> 00:04:44,440 Speaker 3: and pressure on global trade partners, would fuel, as they 72 00:04:44,480 --> 00:04:50,880 Speaker 3: described it, inflation. Instead, the opposite has happened. Inflation not 73 00:04:50,920 --> 00:04:54,040 Speaker 3: only did it not spike, it fell in a major way, 74 00:04:54,440 --> 00:04:57,560 Speaker 3: and it fell faster than anyone, including those at the 75 00:04:57,600 --> 00:05:01,800 Speaker 3: White House, were even willing to min much less claim 76 00:05:01,839 --> 00:05:05,600 Speaker 3: it was going to become a reality. Energy dominance is 77 00:05:05,640 --> 00:05:08,440 Speaker 3: doing exactly by the way, what Donald Trump said it 78 00:05:08,480 --> 00:05:11,400 Speaker 3: was going to do. One of the biggest drivers behind 79 00:05:11,440 --> 00:05:15,040 Speaker 3: the falling inflation is energy prices, and this is where 80 00:05:15,040 --> 00:05:20,279 Speaker 3: Trump's policies are having an outsized impact. Under Trump, federal 81 00:05:20,320 --> 00:05:24,159 Speaker 3: barriers to domestic oil and gas production have been rolled back, 82 00:05:24,640 --> 00:05:29,800 Speaker 3: leasing and drilling approvals have accelerated. The administration signaled clearly 83 00:05:30,160 --> 00:05:33,599 Speaker 3: that America would return to energy independence, and even a 84 00:05:33,640 --> 00:05:35,840 Speaker 3: bigger way than it did when he was in office 85 00:05:36,000 --> 00:05:40,960 Speaker 3: the first time. That confidence alone stabilized the markets, and 86 00:05:41,000 --> 00:05:45,760 Speaker 3: then when supply expectations rise, prices fall not just at 87 00:05:45,760 --> 00:05:49,599 Speaker 3: the pump but across the entire economy, which is exactly 88 00:05:49,640 --> 00:05:53,120 Speaker 3: what we are now witnessing having a huge impact on inflation. 89 00:05:53,880 --> 00:06:00,400 Speaker 3: Lower energy costs, reduced transportation expenses, manufacturing input costs, and 90 00:06:00,760 --> 00:06:05,479 Speaker 3: grocery distribution prices. All of that good for the economy. 91 00:06:06,120 --> 00:06:09,920 Speaker 3: As President Trump said on the campaign trail, energy and 92 00:06:09,960 --> 00:06:14,440 Speaker 3: the price touches everything. Trump understood that from day one, 93 00:06:14,960 --> 00:06:18,680 Speaker 3: and inflation numbers are now proving him to be exactly right. 94 00:06:19,400 --> 00:06:22,760 Speaker 3: We also know that the media and the Democrats lied 95 00:06:22,880 --> 00:06:26,839 Speaker 3: to you about the tariffs. They said over and over 96 00:06:26,960 --> 00:06:30,880 Speaker 3: and over again, the tariffs were going to cause massive inflation. 97 00:06:31,520 --> 00:06:36,520 Speaker 3: They said that shelves would be empty at places like Target, Walmart, Costco, 98 00:06:36,680 --> 00:06:40,680 Speaker 3: and Sam's Club. That also never happened. One of the 99 00:06:40,880 --> 00:06:45,120 Speaker 3: loudest criticisms of President Trump's economic strategy was by the 100 00:06:45,200 --> 00:06:47,599 Speaker 3: left of the media, and they said the tariffs would 101 00:06:47,640 --> 00:06:51,159 Speaker 3: not only raise consumer prices, but there would be massive 102 00:06:51,200 --> 00:06:54,720 Speaker 3: supply chain issues. They then said that would make inflation 103 00:06:54,920 --> 00:06:59,680 Speaker 3: skyrocket even more. That argument has also now flat out 104 00:06:59,720 --> 00:07:04,680 Speaker 3: cold colapsed. What actually happened is this, the tariffs pressured 105 00:07:04,839 --> 00:07:08,960 Speaker 3: foreign producers to actually absorb the costs that did not 106 00:07:09,160 --> 00:07:11,800 Speaker 3: get passed on to Americans the way that the left 107 00:07:12,080 --> 00:07:17,840 Speaker 3: tried to claim supply chains adjusted instead of breaking. Again, 108 00:07:18,120 --> 00:07:21,680 Speaker 3: no empty shelves and no backlogs of basic necessities that 109 00:07:21,760 --> 00:07:26,040 Speaker 3: Americans need. That was also a lie. It also had 110 00:07:26,080 --> 00:07:32,400 Speaker 3: another huge impact. American manufacturing expanded rapidly, reducing the reliance 111 00:07:32,440 --> 00:07:35,720 Speaker 3: on volatile foreign inputs, something the President said was a 112 00:07:35,800 --> 00:07:39,600 Speaker 3: part of us having security and safety literally on a 113 00:07:39,720 --> 00:07:45,080 Speaker 3: national security forefront. Instead of inflation spiraling upwards, which the 114 00:07:45,160 --> 00:07:49,080 Speaker 3: left in the media said was a guaranteed thing, prices 115 00:07:49,120 --> 00:07:56,160 Speaker 3: stabilized and markets recalibrated. Trump's tariffs weren't random, they were 116 00:07:56,360 --> 00:08:02,000 Speaker 3: targeted leverage, forcing fairness and restoring balance. Inflation falling to 117 00:08:02,040 --> 00:08:06,840 Speaker 3: two point seven percent shows that smart trade and enforcement 118 00:08:07,400 --> 00:08:12,120 Speaker 3: doesn't punish the consumers, it actually protects them. And then 119 00:08:12,320 --> 00:08:15,360 Speaker 3: the issue of deregulation, that is something that had a 120 00:08:15,440 --> 00:08:19,520 Speaker 3: huge impact on the numbers we're witnessing right now. Deregulation 121 00:08:19,720 --> 00:08:23,520 Speaker 3: reduce hidden inflation, and Americans have never been able to 122 00:08:23,560 --> 00:08:27,960 Speaker 3: see the receipts before until Trump got into office, Inflation 123 00:08:28,160 --> 00:08:32,679 Speaker 3: isn't just about sticker prices. It's also about compliance costs, 124 00:08:33,080 --> 00:08:38,000 Speaker 3: regulatory delays, and bureaucratic drag from a government that just 125 00:08:38,040 --> 00:08:42,360 Speaker 3: got way too big. Trump administration said, Hey, we're going 126 00:08:42,400 --> 00:08:45,760 Speaker 3: to cut thousands of pages of federal regulations. We're going 127 00:08:45,800 --> 00:08:50,120 Speaker 3: to reduce permitting delays. We're going to lower compliance costs 128 00:08:50,120 --> 00:08:53,040 Speaker 3: for small and medium sized businesses with something else they 129 00:08:53,080 --> 00:08:57,320 Speaker 3: said was vitally important. And when businesses spend less money 130 00:08:57,400 --> 00:09:00,920 Speaker 3: navigating Washington, that's when you get at what we're witnessing 131 00:09:01,000 --> 00:09:04,400 Speaker 3: right now. Products that are fast to the market, they 132 00:09:04,480 --> 00:09:08,600 Speaker 3: end up hiring more people and they keep prices lower. 133 00:09:09,280 --> 00:09:13,480 Speaker 3: This invisible inflation, as the White House described it, rarely 134 00:09:13,520 --> 00:09:18,120 Speaker 3: makes headlines, but removing it has a real, end measured effect. 135 00:09:18,640 --> 00:09:22,559 Speaker 3: The two point seven percent inflation figure reflects those savings 136 00:09:22,960 --> 00:09:26,439 Speaker 3: working their way through the economy, and then it comes 137 00:09:26,480 --> 00:09:29,880 Speaker 3: down to confidence has returned to the marketplace and the 138 00:09:29,960 --> 00:09:35,679 Speaker 3: markets have actually responded. Inflation is also psychological. When consumers 139 00:09:35,679 --> 00:09:39,000 Speaker 3: and businesses believe prices will rise, they behave in ways 140 00:09:39,000 --> 00:09:44,040 Speaker 3: that make it happen well. Trump's leadership clearly restored economic confidence. 141 00:09:44,600 --> 00:09:51,880 Speaker 3: Businesses began investing again, consumers stopped panic buying, markets adjusted 142 00:09:52,000 --> 00:09:58,560 Speaker 3: expectations downwards. That confidence reduces volatility, and volatility is a 143 00:09:58,679 --> 00:10:05,040 Speaker 3: major inflation. Washington elites expected chaos, the markets and the 144 00:10:05,080 --> 00:10:08,560 Speaker 3: people saw clarity and they understood the rules of the 145 00:10:08,640 --> 00:10:12,600 Speaker 3: game because of a president that was transparent, which brings 146 00:10:12,679 --> 00:10:16,720 Speaker 3: us to fiscal discipline, and that was reassuring itself to 147 00:10:16,760 --> 00:10:20,880 Speaker 3: the American people. A renewed emphasis on fiscal restraint of 148 00:10:20,880 --> 00:10:24,280 Speaker 3: our government DOGE was a large part of that. Again, 149 00:10:24,559 --> 00:10:27,880 Speaker 3: made people feel more confident in their government. Trump is 150 00:10:27,880 --> 00:10:33,480 Speaker 3: consistently pushed for cutting wasteful spending, targeted bloated bureaucracies, and 151 00:10:33,720 --> 00:10:38,720 Speaker 3: challenged runaway federal programs. Even the signal of restraint matters. 152 00:10:39,080 --> 00:10:42,400 Speaker 3: When investors and lenders believe government spending will be controlled, 153 00:10:42,840 --> 00:10:46,600 Speaker 3: inflation expectations drop, which is exactly what we're seeing. 154 00:10:46,640 --> 00:10:47,240 Speaker 1: Now. 155 00:10:47,280 --> 00:10:50,880 Speaker 3: All of this has turned into one thing. Now it's 156 00:10:50,960 --> 00:10:54,319 Speaker 3: showing in the real numbers. So what is the massive 157 00:10:54,360 --> 00:10:58,240 Speaker 3: takeaway from this? This is a gigantic win for every 158 00:10:58,280 --> 00:11:03,760 Speaker 3: American a specially lower and middle class American families. The 159 00:11:03,880 --> 00:11:06,920 Speaker 3: drop in inflation to two point seven percent didn't happen 160 00:11:06,960 --> 00:11:12,040 Speaker 3: by accident, and it didn't happen despite Donald Trump's policies. 161 00:11:12,440 --> 00:11:17,560 Speaker 3: It happened because of Donald Trump's policies. Energy dominance, lowered costs, 162 00:11:17,720 --> 00:11:24,000 Speaker 3: economy wide tariffs, restored balance without triggering price spikes, deregulation, 163 00:11:24,200 --> 00:11:29,280 Speaker 3: reduced hidden inflation, confidence, return to the markets, fiscal discipline, 164 00:11:29,360 --> 00:11:34,120 Speaker 3: signal stability. The so called experts yet again predicted disaster. 165 00:11:34,640 --> 00:11:38,040 Speaker 3: The data delivered a reality check to them. So this 166 00:11:38,120 --> 00:11:42,240 Speaker 3: inflation report isn't just good news. It's proof that Trump's 167 00:11:42,320 --> 00:11:47,800 Speaker 3: economic playbook works even under intense political and global pressure. 168 00:11:48,600 --> 00:11:51,280 Speaker 3: Thank goodness, we have a present that's willing to stay 169 00:11:51,320 --> 00:11:54,960 Speaker 3: the course and not chase an approval rating number. And 170 00:11:55,040 --> 00:11:57,920 Speaker 3: now what we're witnessing is the real effects of what 171 00:11:58,000 --> 00:12:00,520 Speaker 3: Trump's economy is at the end the end of his 172 00:12:00,640 --> 00:12:03,520 Speaker 3: first year. And now you know what to expect moving 173 00:12:03,559 --> 00:12:04,959 Speaker 3: into twenty twenty six. 174 00:12:05,120 --> 00:12:07,800 Speaker 2: Thank you for listening to the forty seven Morning Update 175 00:12:07,920 --> 00:12:12,040 Speaker 2: with Ben Ferguson. Please make sure you hit subscribe wherever 176 00:12:12,080 --> 00:12:15,120 Speaker 2: you're listening to this podcast right now and for more 177 00:12:15,120 --> 00:12:18,880 Speaker 2: in depth news, also subscribe to the Ben Ferguson podcast 178 00:12:19,160 --> 00:12:20,960 Speaker 2: and we will see you back here tomorrow