The White House said President Donald Trump’s order this week pausing the disbursement of funds appropriated under his predecessor’s signature climate and infrastructure laws mainly applies to programs that discourage fossil fuel development or boost electric vehicles.

The White House Office of Management and Budget (OMB) issued new guidance Wednesday clarifying limits to the disbursement of Inflation Reduction Act (IRA) funds ordered by President Trump Monday.

Incoming White House officials said the presidential memorandum would outline an all-of-government approach to bringing down prices for consumers.

Among President Donald Trump's volley of executive orders on inauguration day were several targeting the heart of inflation: housing and energy costs.

Price and wage trends point to the Fed hitting its target this year, but whether it gets there now depends on Trump.

President Joe Biden will leave the White House with a strong economy, historic gains in the job market, a foundation for future manufacturing growth, and having brought down decades-high inflation without triggering a recession.

President-elect Donald Trump on Monday will sign a memorandum aimed at fighting inflation after he takes office that calls for an "all of government" response to bring down costs for Americans, an incoming White House official said.

The executive order demanded an immediate pause to some IRA-related federal funding. Funding for which projects? It wasn't clear.

President Trump, starting his second term, began a slew of executive actions by rescinding 78 Biden-era executive orders, executive actions, and presidential memoranda.

An executive order released by the White House states, “All agencies shall immediately pause the disbursement of funds appropriated through the Inflation Reduction Act of 2022”.

The U.S. economy has successfully achieved a soft landing, with inflation returning to more normal levels while the labor market grows steadily, said Lael Brainard, the director of the White House National Economic Council,

When Donald Trump takes the oath of office today, he will enter the White House with an economy that’s in dramatically better shape than when he left four years ago. Read more