Esposito: Inflation Is Finally Easing, But Biden’s “Compounded Price Damage” Still Weighs on Families
Ascalon VI Capital CEO Anthony Esposito says the economy is finally moving in the right direction after years of inflationary pressure. He noted that when President Trump left office, the true inflation rate was near 2%, only to surge to 12% under President Biden. With inflation now back down to roughly 2.4%, Esposito said progress is clear — but the lingering impact of years of steep price hikes will take time to unwind.
Senior Fellow E.J. Antoni expanded on that point by highlighting how energy prices ripple into the cost of food. He explained that energy inputs — diesel, electricity, and especially natural-gas-based fertilizer — drive a large portion of food production costs. As energy prices moderate, he said, Americans are seeing relief at the grocery store, including sharply lower Thanksgiving meal costs at retailers like Walmart, Aldi, Target, and regional chains posting their lowest prices in more than a decade.
President Trump underscored that message during the annual turkey pardon, touting a 25% drop in the cost of a standard Thanksgiving meal and a 33% decline in turkey prices from Biden-era highs. Both panelists agreed that increased domestic energy production is a major factor behind the easing prices.
When asked what he would tell young Americans who still feel squeezed, Esposito said the struggle stems not from today’s inflation rate but from the nearly 30% compounded price increase created during Biden’s four years. He said affordability will gradually improve as inflation continues to cool, but the damage done by years of rapid price growth can’t vanish overnight. Families, he stressed, are “on the way out of the crisis,” but the recovery will take persistent discipline and better policy.
