Trump rescinded Executive Order 14087, "Lowering Prescription Drug Costs for Americans," which directed Medicare and Medicaid agencies to research and implement models for lowering the costs of prescription drugs. Separate provisions in the Inflation Reduction Act of 2022 also aimed at lower prescription drug costs are still in effect.

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.

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.

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

President-elect Donald Trump will re-enter the White House next week against a more challenging economic backdrop than when he was sworn in for the first time in 2017 — starting with the threat of inflation.

An expected decline in interest rates could be stalled if the prospective tariffs of Donald Trump's second White House administration bleed into markets and shore up inflation, UBS CEO Sergio Ermotti warned Tuesday.

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”.

President Trump hit the ground running, signing a flurry of executive orders in the hours after he was sworn in for a second term.

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,

The official White House website has officially transferred from the Biden presidency back to the Trump administration.