MOUNT POCONO, Pa.—President Donald Trump told an energetic crowd packed with thousands of supporters on Dec. 9 that his administration’s policies are lowering the cost of living across the country.

“I have no higher priority than making America affordable again,” Trump said. “We’re bringing prices down rapidly.”

Top of mind for the president was the economy as he spoke in a quaint mountain town in northeastern Pennsylvania.

The boisterous crowd hung on every word, interacting with the president and spontaneously erupting into cheers of “USA” and “four more years” throughout the evening.

Trump described efforts underway to tame inflation, which accelerated during the COVID-19 pandemic and under his predecessor, President Joe Biden, to levels as high as 9.1 percent.

Prices are down for some groceries, including butter, eggs, fruit, pasta, and rice, among other items, he highlighted.

Inflation is averaging 2.7 percent, according to the U.S. Bureau of Labor Statistics.

After accounting for inflation, wages have increased by about 4 percent this year, giving Americans an additional $700 in spending power, which is expected to increase to $1,200 annually, according to a statement from the White House.

Fuel prices fell to the lowest average in nearly 1,700 days to approximately $2.95 a gallon nationwide, Trump noted. A gallon of regular unleaded gasoline is below $2 per gallon in at least four states and lower than $3 per gallon in 36 states, according to automotive club AAA.

Declining mortgage rates are another positive sign, Trump said, although the president said he wants Federal Reserve Chair Jerome Powell to further lower interest rates.

“We have a lousy Fed chair,” Trump said. The president, since his return to the White House, has repeatedly criticized Powell and the Fed for not lowering rates faster, saying that inflation has been low despite the tariffs.

The Fed chair has said his agency needs to monitor the impact of the president’s tariffs and make cautious, data-driven decisions to fulfill its dual mandate of keeping prices stable and maximizing employment.

Two rate cuts of 25 basis points each took place this year, in September and October. Another announcement on rates is coming from the central bank on Dec. 10.

Trump asked Treasury Secretary Scott Bessent during his speech to investigate Biden’s use of the autopen, suggesting that some Federal Reserve commissioners’ appointments could be invalid.

Looking toward the broader economy, the president said relief is on the way. Tax cuts included in the One Big Beautiful Bill Act will benefit workers nationwide, Trump said, by reducing taxes on overtime, tips, and Social Security benefits.

The new law is expected to increase tax refunds by about $1,000 for every filer.

Deregulation is also helping to lower costs by removing Biden-era climate-related restrictions, saving Americans $180 billion collectively, averaging about $2,100 for a family of four, according to the White House.

During the event, Bessent said the positive impacts of the administration’s economic policies are widespread.

“[Trump’s] policies are already yielding fruit,” he told the audience.

Bessent criticized the Biden administration for policies that he said increased spending and created scarcity.

“Biden ran up America’s credit card and left us here to pay the bill,” he said.

One lawmaker said the efforts to lower prices continue, with a focus on reducing energy costs.

“We have a lot more work to be done,” Rep. Ryan Mackenzie (R-Pa.) said during the event.

“We are going to continue to make America great.”

Energy Secretary Chris Wright noted that the states with the highest electricity prices, including California, Hawaii, and New York, are controlled by Democrats.

Thousands of people braved freezing temperatures, waiting outside for hours in a line that stretched around the Mount Airy Casino Resort. An overflow room held the many who couldn’t fit in the packed ballroom.

The president spoke from a podium flanked by signs that read “Lower Prices” and “Bigger Paychecks” in capital letters.

Hundreds of red Make America Great Again hats dotted the crowd. One young man standing behind the president wore a “Persians for Trump” shirt.

Many waved placards reading “Trump gives us hope“ and ”Win the House, Save the Country,” while others called for a third Trump presidency in 2028.

Dozens of attendees told The Epoch Times that they voted for Trump and traveled to the small mountain town to show him how much they care.

“We’re here because he’s the greatest president in our lifetime,” John Roberts of Philadelphia said. “He’s fighting for us, for our kids, and for our grandkids.”