When politicos look back on President Donald Trump’s first year in his second stab at the presidency, early 2026 may mark the nadir of his career-wide economic approval.

The inflation crisis inherited from former President Joe Biden has kept the cost of living the single most salient issue for voters across the political spectrum. So, the White House ends Trump’s first year back in power in a defensive posture with uncharacteristically low approval ratings on the economy.

Yet, there are enough signs in the data that indicate the worst may be coming to an end, as one of Trump’s most audacious economic gambles is beginning to pay off.

Core consumer price index inflation, the Federal Reserve’s preferred measure, fell to 2.6% in November, its lowest point since the start of Biden’s presidency nearly a half-decade ago. Economic growth in the third quarter of 2025 soared 4.3% at an annualized rate, according to the first estimate........

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