Economist Steve Moore said throughout 2025 that policy changes under President Donald Trump were already improving wages, energy output and household finances.

In multiple television appearances and commentaries throughout 2025, Moore pointed to a combination of expanded domestic energy production, rising wages, improving labor data, and regulatory rollbacks as evidence the economy was shifting to favor workers. He argued those developments were not isolated wins but early indicators of structural changes that could deliver broader, more durable economic gains for Americans heading into 2026.

1. Energy Independence Could Lower Costs And Strengthen U.S. Power

In June, Moore said expanded domestic oil and gas production would free Americans from foreign energy pressure and lower costs across the economy. He added that producing more energy at home strengthens wages, stabilizes prices, and shields families from overseas shocks.

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Moore said Trump aims to lock in energy independence through long-term leasing that boosts output in major producing states. He said that approach keeps America from reacting to Middle East turmoil and puts consumers in a stronger position. (RELATED: Biden’s Decision To Kill Keystone XL Has Come Back To Haunt Him)

“If Trump goes forward with what he wants to do, and our energy secretary is all in on this, produce as much oil and gas as we can here at home in Texas and North Dakota and Oklahoma and these other states. Then we’re not held hostage anymore to what’s happening in the Middle East,” Moore said. “That’s what’s so frustrating. We have more of this stuff than anybody does.”

2. Job Growth Signals A Shift Toward Worker Gains

Moore said recent employment data points to a rebound that restores buying power for workers. He argued that rising pay, rather than raw job counts, signals healthier conditions for households heading into 2026.

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In November, the U.S. Department of Labor reported a solid monthly gain after a weak prior reading while unemployment stayed roughly flat. Moore told viewers that stronger wages tell a clearer story than political talking points. (RELATED: US Job Growth Smashed Expectations In September)

“What I really liked about that jobs report, Larry, was the wage growth. I just don’t get the left’s obsession about affordability and a loss of buying power,” Moore told Larry Kudlow.

3. Looser Housing Rules Could Unlock Homeownership

Moore said cutting local and state zoning barriers would expand housing supply and cool prices without harming growth. He made the case on CNBC that faster construction opens doors for first-time buyers.

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He said rising home values build household wealth and support the wider economy. Moore argued that a steady market, not a price crash, best serves families planning for the future. (RELATED: ‘America First’ Must Address The Housing Affordability Crisis)

“Yes, housing is expensive today. But for every time that the value of a house goes up, that can be a positive for the economy. Look, I’m typical. I’m 65 years old. A lot of the equity that I have, a lot of the money I have is in the equity in my home,” Moore said. “So if the value of my home goes up, that’s a bad thing. That’s not a bad thing. That’s a good thing. If you want to see prices crash for the homes, that’s not going to be a very good thing.”

4. Moore Says Polls Miss Reality Of Rising Wages And Wealth

Moore said that he was surprised by how gloomy Americans appear in public opinion polls despite what he described as strong economic conditions. He argued that the country is experiencing a paradox in which peace and prosperity coexist with widespread claims of an “affordability crisis,” even as median household income surpassed $86,000 in 2025.

Writer and economist Stephen Moore addresses the Faith & Freedom 2024 Road to Majority Conference in Washington, DC, on June 22, 2024. (Photo by CHRIS KLEPONIS/AFP via Getty Images)

Moore wrote that every income and ethnic group is wealthier today than ever before, pointing to Hispanic households posting median incomes above $70,000. He said that level of income would be considered prosperous in many of the countries that immigrants or their parents once left behind.

Moore argued that rising living standards have long defined the American experience but said 2025 stood out as a “blockbuster” year with incomes growing nearly twice as fast as inflation. He credited the gains to what he described as a regime change in Washington under President Donald Trump and policies that he said rewarded growth, work and investment.

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