Updated January 13, 2026 at 3:06 PM MST
President Trump gave a grievance-laden speech at the Detroit Economic Club Tuesday that touched on what he labeled a resurgent American economy but meandered into many different topics including criticism of former President Joe Biden, Federal Reserve Chairman Jerome Powell, Minnesota's Somali population and Minneapolis protesters.
"We have quickly gone from the worst numbers on record to the best and strongest numbers and an economy that is far ahead," Trump said from the Detroit Economic Club.
The speech, which comes amid polling showing his handling of the economy at a historic low, lasted just more than an hour. He touted plans to crack down on fraud, freeze federal payments to states with sanctuary cities and cap credit card fees at 10% for a year. He also teased further proposals to come on health care and housing.
"It's unfair," Trump said in Detroit on credit card interest rates. "The rates are too high to provide further relief to hardworking Americans."
But Trump spent much of his time blaming Biden for inflation rates and criticized the fed chair, Powell, whom the Justice Department is targeting in a new investigation. Trump told NBC News on Sunday he had nothing to do with the probe, but he has been criticizing Powell for months for not lowering interest rates and has been threatening to fire him.
In his remarks, Trump referred to Powell as "that jerk" and said he would "be gone soon."
Michigan was Trump's first domestic trip since a slew of international news – capturing Venezuelan leader Nicolas Maduro; threatening military action against Iran after rising protests; seizing Greenland; trying to move forward in the Gaza peace deal; ongoing negotiations to end the Russia-Ukraine war – has been the president's main focus for weeks.
But in the U.S., even a majority of the president's own supporters remain increasingly concerned about high costs and affordability. It's an issue that was critical for Democrats' successes in the 2025 elections in Virginia and New Jersey and expected to remain top of mind for midterm elections later this year.
Last month, Trump's approval rating on the economy hit a new low of 36%, according to a NPR/PBS/Marist poll. The poll showed voters feel like they are struggling to make ends meet and are most concerned about high costs.
The president previously addressed his economic agenda in an Oval Office speech and said his administration was "making progress" on lowering costs but "it's not done yet."
In recent weeks, the White House has been touting lower gas prices and a dip in mortgage rates as economic wins. The president also shared that he'll address a plan for more affordable housing during a trip to Davos, Switzerland, next week.
Trump said tariffs were "one of the biggest reasons" for what he said is his successful economy.
"The Trump tariffs have delivered us trillions of dollars of new investment, unprecedented new partnerships on new minerals, rare earths, defense and artificial intelligence and historical levels of foreign military sales," Trump said.
The president specifically said his 25% tariff on foreign automobiles is helping Michigan.
"I am standing up for the American autoworker like no president has stood up before," he said.
Before his remarks, Trump visited a Ford facility that manufactures the F150 pickup truck.
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