While President-elect Donald Trump has referred to the nation’s current situation and its economy as a “disaster” and a “total mess,” President Joe Biden shared that Trump actually praised some of his economic policies during a private meeting.

“He expressed admiration for several economic initiatives I implemented,” Biden recounted in a 55-minute interview with YSL News. “He mentioned that he believed I was departing with a solid record.”

For voters in the 2024 presidential race, inflation and rising costs were major issues, contributing to Trump’s victory over Vice President Kamala Harris, the Democratic nominee.

Though many Americans are still struggling financially, inflation has decreased from a peak of 7.1% in early 2022 to 2.4% in November. The U.S. economy is projected to experience gradual growth this year.

Despite this, Biden and Harris have faced backlash from voters regarding the economic situation, despite improvements since the COVID-19 pandemic.

In the lead-up to the election, a Gallup survey from September revealed that over half of Americans (52%) felt they were worse off than they were a year ago. Additionally, 62% believed the economy was “getting worse,” while only 32% felt it was “improving.”

During his term, Biden enacted the $1.9 trillion American Rescue Plan to stimulate growth and revive jobs impacted by the pandemic. However, critics, especially among Republicans, have blamed this package for contributing to inflation.

Trump’s Economic Plans

Though Biden reported that Trump has complimented his policies in private, the president-elect also outlined his own plans to tackle the country’s economic challenges.

Trump intends to extend and enhance the significant tax reductions instituted during his first term. Additionally, he has vowed to implement substantial tariffs and deport millions of undocumented immigrants, a strategy that some analysts warn could lead to renewed inflation and stifled economic growth.

Nevertheless, others argue that his proposed tax cuts and intentions to lessen regulations on businesses might stimulate the economy while having varied impacts on inflation levels.

“On January 20, we will swiftly revitalize the economy,” Trump stated during a press conference at Mar-a-Lago on Tuesday. “When I consider our economy, inflation comes to mind. It’s unprecedented. Over the next four years, the United States will soar like a rocket.”