Trump’s inheriting a solid economy, making it harder to lower borrowing costs or inflation

President Donald Trump has pledged cheaper prices and lower interest rates, but an economy transformed by the pandemic will make those promises difficult to keep. Economic growth is solid, driven by healthy consumer spending. And budget deficits are huge and could get even larger. And if Trump follows through on his promises to impose widespread tariffs on imports and deport millions of immigrants, economists expect inflation could worsen -- making it less likely the Federal Reserve will cut its key interest rate much this year. All of these trends will likely keep borrowing costs higher, including for homes and cars.