President Donald Trump encountered a challenging moment on Fox News on Wednesday, November 6, 2025, when anchor Bret Baier presented him with a concern from a supporter about increasing prices. Trump dismissed the notion that costs had risen.
During an interview on “Special Report,” following significant GOP defeats in the November elections, Baier shared a message from Regina Foley, a North Carolina retiree and lifelong Republican. Foley, who voted for Trump in three previous elections, expressed dissatisfaction with the economic situation, emphasizing that Wall Street figures did not align with her everyday experiences. She urged the president to take action.
In response to Baier’s question about addressing such concerns, Trump denied that prices were still high. He mentioned the need for beef prices to decrease and described groceries as an “old-fashioned but beautiful word.” He asserted that prices were way down and discussed energy costs at length.
Trump argued that a significant reduction in energy prices would lead to lower costs overall. He noted that Foley likely drives a car and that energy prices have decreased significantly, suggesting that such reductions would influence other areas. Speaking after an economic address in Miami, Florida, Trump acknowledged that Republican candidates in Tuesday’s elections might have been more effective in addressing affordability issues.
Trump’s statements contrast with recent economic data. A late October survey indicated that about 70 percent of Americans reported higher grocery costs, while about 60 percent noted increased utility bills compared to the previous year. The economic strain affects both parties, with nearly nine in ten Democrats and 52 percent of Republicans reporting increased grocery spending.
Although the national average price of regular gasoline has remained below last year’s level, the Lawrence Berkeley National Laboratory (LBNL) reported that retail electricity prices have risen faster than inflation in several states. CNN fact-checker Daniel Dale previously highlighted that grocery prices were increasing at the fastest month-to-month rate in three years, with electricity prices rising 6.2 percent in August compared to the prior year.
Trump told Baier that the primary issue related to cost and affordability is the lack of discussion among Republicans. He stated, “Republicans don’t talk about the word affordability, and the Democrats lie about it.” Baier concurred that Republicans need to address the gap between economic indicators and personal experiences. “This dichotomy between how Wall Street’s doing and how big business is doing and how you feel about it at home is something Republicans really have to look at closely,” Baier said.
The Fox News anchor also discussed election dynamics with Trump, noting that his absence from the ballot affected Republican turnout. He remarked that Trump’s non-participation did not generate the same enthusiasm, although it did motivate anti-Trump voters to turn out in substantial numbers.
An early-November poll revealed that six in ten voters told ABC News, Washington Post, and Ipsos pollsters that Trump’s handling of inflation and tariffs was harming the American economy. Politically, about 60 percent of U.S. adults attributed a significant or moderate amount of blame to Trump for the current inflation rate.
Trump acknowledged that the government shutdown, which became the longest in U.S. history, has adversely affected Republicans, who control both the House and the Senate. Trump also expressed admiration for Foley, noting her previous support. He suggested that she would vote for him again if given the opportunity.
Following Trump’s November denial of rising prices on Fox News, the affordability controversy intensified throughout December and into January 2026. Trump doubled down on his position in early December, calling affordability concerns a “hoax” and “con job” during a speech in Mount Pocono, Pennsylvania, sparking widespread criticism from pollsters and economists who warned he risked appearing out of touch with voters.
By mid-December, polling showed 57% of voters believed Trump was “losing the battle against inflation,” and consumer sentiment remained “broadly somber” according to University of Michigan surveys.
On December 17, Trump delivered a nationally televised White House address promising a “shock-and-awe push for affordability” and vowing voters would see lower prices in 2026, though he continued to insist the problem was inherited from Biden.
By early January 2026, Trump announced plans to ban large investors from buying homes and promised to unveil “aggressive housing reform plans” at the World Economic Forum in Davos, though critics noted his tariff policies were actually raising construction costs by an estimated $17,500 per home.
