Two months in office and sure enough, President Trump's economy today is starting to look a lot like President Trump's economy four years ago.

According to U.S. News & World Report:

Consumer prices rose 0.2% in February, or 2.8% annually, coming in below the forecasts of economists, the Bureau of Labor Statistics reported on Wednesday.

Although housing costs rose, accounting for nearly half of the overall increase in the consumer price index, the cost of gasoline dropped 1% while the price of air fares fell 4%.

Food prices continued their upward trend, with the cost of eating out rising 0.4% in the month, while the grocery index was unchanged.

The core index that strips out food and energy costs also increased 0.2% on the month, hitting 3.1% on a 12-month basis.

“The February CPI release showed further signs of progress on underlying inflation, with the pace of price increases moderating after January’s strong release,” said Kay Haigh, global co-head of fixed income and liquidity solutions at Goldman Sachs Asset Management. “While the (Federal Reserve) is still likely to remain on hold at this month’s meeting, the combination of easing inflationary pressures and rising downside risks to growth suggest that the Fed is moving closer to continuing its easing cycle.”

It's quite a contrast:

There's also this:

BREAKING — Massive stock market rally underway as investors react to positive news which shows inflation cooling off
pic.twitter.com/4f1StH9WlP

— Election Wizard (@ElectionWiz) March 12, 2025

Where does it come from? To be sure, it's a monetary phenomenon, as Milton Friedman once insisted.

Johns Hopkins University Prof. Steve Hanke has the best explanation of what's happening over the course of time:

That the Fed has stopped printing money explains better than anything why inflation is finally slowing down to almost nothing. This actually started in 2022 but the benefits accumulate over time as a trend.

Hanke says it's actually printing too little money for growth in the economy. But notice how the red line is coming close to the blue line in his chart -- the golden mean for growth, he writes. That is why we aren't feeling that Bidenrecession much from the Fed's overreaction, when the red line was in a deep scoop downward, and are starting to feel the Trumpian economy come to the fore.

The Fed is still printing less money than it did under the Bidenflation bad days, and with DOGE, it appears the government needs a lot less of this printed money, which means less still for the bloated government, and more that can be put to work by the people.

These two in Congress come close to understanding what is going on as to where inflation is coming from, as does DOGE boss Elon Musk:

There are members of congress that don’t know that printing and spending money devalues the dollar and causes inflation.
Here @RepThomasMassie tries to it explain it to them: pic.twitter.com/Yd8SFHh9pt

— Natalie F Danelishen (@Chesschick01) March 11, 2025

BREAKING: America recorded its lowest core inflation in four years 🇺🇸

Elon Musk was spot on when he said that if we tackle the massive waste in government, we can actually address inflation. pic.twitter.com/idHIfccenk

— DogeDesigner (@cb_doge) March 12, 2025

It's good stuff, given the massive corruption buried in the Biden administration, which has yet to be entirely shaken out.

Let's hope this trend continues with lots of upside surprises as DOGE cuts the waste and fat and turns the Trump administration government into a lean, effective, machine, while the Fed stops the runaway printing presses.

It can only be good for shaking the stench of Bidenflation from the entire country as its chief side effect, and based on these CPI numbers, it's starting to happen now.

Image: Johns Hopkins University chart from Steve Hanke calculations and Federal Reserve data // X screen shot