President Donald Trump encountered a challenging moment on Fox News on Wednesday, Nov. 5, 2025, during an interview with anchor Bret Baier. Baier presented Trump with a message from a longtime supporter expressing dissatisfaction with rising prices, which Trump denied, asserting that costs had not increased.
The conversation took place on “Special Report” following the Republican Party’s substantial losses in Tuesday’s (Nov. 4) elections. Baier read a statement from Regina Foley, a retiree in North Carolina and a steadfast Republican who has voted for Trump three times. Foley expressed her concerns about the economic situation, noting that the Wall Street figures did not reflect her Main Street experiences, and urged the president to take action.
When asked how he would address Foley’s concerns, Trump dismissed the notion that prices remain elevated. He stated that beef prices need to decrease and referred to groceries as an “old-fashioned but beautiful word,” asserting that prices are way down, before shifting the discussion to energy costs.
Trump argued that energy prices have fallen significantly, which he believes will result in a reduction of overall costs. He noted that Foley, as a driver, would benefit from decreased energy prices, as they impact a wide range of expenses. Speaking after delivering an economic address in Miami, Florida, Trump acknowledged that Republicans who lost in Tuesday’s elections could have more effectively addressed affordability issues.
These assertions contrast with current economic data. A late October survey revealed that approximately 70 percent of Americans reported higher grocery costs and 59 percent indicated increased utility bills compared to the previous year. This financial burden affects both parties, with nearly 90 percent of Democrats and 52 percent of Republicans stating they face higher grocery expenses.
While the average national price for regular gasoline remains below last year’s levels, the Lawrence Berkeley National Laboratory (LBNL) reports that electricity prices have risen faster than inflation in several states (as summarized by Utility Dive). CNN fact-checker Daniel Dale has previously addressed similar statements by Trump, noting grocery prices were increasing at the fastest month-to-month rate in three years. Electricity prices also rose 6.2 percent in August compared to the prior year.
Recent data indicate that three-quarters of Americans report their household expenses have risen over the past year, with some individuals facing monthly increases between $500 and $749. The Bureau of Labor Statistics notes grocery prices have increased by 29 percent on average since February 2020.
Trump conveyed to Baier that one of the primary issues with cost and affordability is that Republicans do not address it sufficiently. He stated, “Republicans don’t talk about the word affordability, and the Democrats lie about it.” Baier concurred, suggesting Republicans need to examine the disconnect between economic indicators and everyday experiences. “This dichotomy between how Wall Street’s doing and how big business is doing and how you feel about it at home is something Republicans really have to look at closely,” Baier remarked.
The Fox News anchor also discussed election dynamics with Trump, agreeing that his absence from the ballot negatively impacted Republican voter turnout. Baier noted that without Trump on the ballot, there is not the same level of enthusiasm, while anti-Trump voters were highly motivated to participate.
A weekend poll showed that six in ten voters told ABC News, Washington Post, and Ipsos pollsters that Trump’s handling of inflation and tariffs was causing more harm than good to the U.S. economy. Politically, 59 percent of all U.S. adults attributed a significant portion of the blame for the current inflation rate to Trump.
Trump acknowledged that the government shutdown, the longest in history, has been detrimental to Republicans, who hold majorities in both the House and the Senate. Trump also expressed affection for Foley, noting she voted for him three times and he believes she would vote for him again if given the chance.