Mike Faulkender joined Fox Business to discuss the economy.

Mike Faulkender, a former U.S. Treasury official, appeared on Fox Business to discuss the current state of the economy under the Biden administration. Faulkender highlighted several key points of contrast between the Trump and Biden administrations' handling of economic policies. He pointed out that under Trump, inflation was at 1.4%, the southern border was secure, and the average 30-year mortgage rate was significantly lower.

Faulkender criticized the Biden administration for the current economic challenges, attributing rising inflation to policies implemented in the early days of Biden's term, such as the American Rescue Plan, which injected trillions into the economy. He argued that these measures, coupled with restrictions on domestic energy production, have led to increased costs for American families.

Addressing the pandemic, Faulkender emphasized that lockdowns were advised by health officials like Dr. Anthony Fauci but implemented by local officials, not directly ordered by President Trump. He also noted that most jobs had been recovered, and economic output had nearly returned to pre-pandemic levels by the time Biden took office.

Faulkender concluded by stating that the current administration's top-down approach and significant spending initiatives have constrained the supply of goods, contrasting it with Trump's policies focused on economic growth and minimal government intervention to support small businesses and communities.