Few American families made it through Thanksgiving without noticing the cost of their classic American meal. The return of higher prices will be marked as the single worst unforced error in the annals of American economic policy — and it is only going to worsen.

President Trump took office on a pledge to cut prices — an aggressive promise that went far past simply reducing inflation. In his first three months in office, inflation dropped from 3% in January to 2.3% in April. That is a remarkable achievement for the Federal Reserve. It is also one that any politician would want to claim for his own, as Trump did.

See Full Page