Dow Climbs to Record High as Trump Works to Ease Americans’ Economic Concerns

The Dow Jones Industrial Average hit a fresh intraday record on Thursday, giving President Donald Trump a moment of celebration as he pushes back against criticism of his economic leadership. The index briefly climbed above 48,500 points, boosted by the Federal Reserve’s midweek interest-rate cut and strong momentum in Visa shares, which surged after Bank of America upgraded the stock on expectations of “strong fundamentals.”

Trump quickly highlighted the milestone online, writing:

“STOCK MARKET JUST HIT AN ALL-TIME HIGH!!! When will the Fake Polls show that I am doing a great job on the Economy, and much more???”

Trump Leans on Economic Wins as Price Concerns Persist

The president is increasingly turning to the stock market’s performance as he faces attacks from Democrats over lingering affordability issues. Inflation has eased significantly—now hovering near 3%, far below the 9% peak recorded during the Biden administration—yet many households continue to feel pressure from high grocery bills and widespread layoffs.

Trump officials argue they inherited a fragile economic environment and insist that repairs will take time. They say tax reductions, along with growth fueled by the booming artificial intelligence sector, will help rebuild stability.

Commerce Secretary Howard Lutnick echoed this optimism during an interview on CNBC’s Squawk Box, saying:

“AI is going to grow in America. We have the right rules, we have the right foundation.”

Tariffs and Manufacturing Under Scrutiny

Trump continues to defend his tariff strategy, claiming it will help balance the federal budget and encourage international companies to build more factories on U.S. soil. However, the manufacturing sector remains sluggish, and businesses warn that tariffs raise operational costs since U.S. importers must ultimately pay them.

Democrats have seized on the issue, arguing that the administration has made daily life more expensive. Senate Minority Leader Chuck Schumer stated:

“There aren’t enough speeches to hide the fact that Donald Trump has sent costs up and up, not down. His tariffs have raised the price of groceries, clothing, and energy.”

Fed Cuts Rates Amid Uneven Economic Signals

The Federal Reserve delivered its third consecutive 25-basis-point rate cut on Wednesday, explaining that weak hiring conditions now pose a bigger challenge than inflation. Trump’s team had pushed for a faster and sharper reduction.

Lutnick criticized the central bank’s approach, saying Chair Jerome Powell is acting “too late” and perhaps “too afraid,” adding:

“We should be leading with our front foot. Instead, we’re leaning back as if something bad is happening.”

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