President-elect Donald Trump has vowed to repeal Joe Biden's signature climate bill called the Inflation Reduction Act, which initially aimed at some $400 billion in new spending and tax cuts and credits at accelerating America's transition to a green energy economy.

Shares have suffered heavy falls to end the trading week, and some economists say a trending change in markets could mean the rout is not over yet.

Trump’s ability to project strength and assure voters that he would reduce inflation helped him win November’s election. Stocks initially climbed on the prospect of tax and regulatory cuts, but Trump still faces a skeptical public and appears to be starting his presidency from a more delicate position than Biden did four years ago.

In a WalletHub Fed Rate survey, 74 percent of Americans said Trump's proposed tariffs would likely lead to more inflation down the line.

He has promised to tame price increases. But even a president can only do so much.

By Stephen Culp NEW YORK (Reuters) -Wall Street stocks rose sharply higher on Friday and the dollar softened as cooler-than-expected inflation data helped investors look past the looming possibility of a government shutdown and fresh tariff threats from U.

The U.S. dollar pulled back from a two-year high on Friday, but was heading for its third-straight week of gains, with data showing a slowdown in inflation two days after the Federal Reserve cut interest rates and indicated inflation was stubborn enough to scale back cuts in 2025.

The Federal Reserve cut interest rates by a quarter of a percentage point on Wednesday, delivering relief for borrowers at the central bank's last meeting before President-elect Donald Trump takes office next month.

President-elect Donald Trump says he loves low interest rates, but his talk of imposing tariffs is pressuring the Federal Reserve to keep rates higher for longer.

President-elect Donald Trump’s favorite barometer of his success — the stock market — had been humming since his reelection. Business-friendly promises of deregulation and tax cuts got investors excited with anticipation of unlocked profit and easy money.

Sellers continued to debate over the Biden administration’s role in lowering inflation, especially at the grocery store.