Investing.com-- Republican presidential candidate Donald Trump painted a bleak picture of the U.S. economy in a rally in North Carolina on Wednesday, while criticizing the Biden administration and Democratic nominee Kamala Harris for driving up inflation.

In an address at a campaign event in Asheville, North Carolina, Trump spoke on the economy- focusing on high inflation, which he blamed on the Biden administration over the past four years.

Trump promised to slash energy costs “by half at least” within 18 months of being elected, vowing to increase oil production and fracking. He also reiterated his campaign promise to remove taxes on tips, as well as direct government spending towards better roads and infrastructure.

He promised to bring down consumer price inflation, vowing to eliminate “every single job-killing regulation” from the Biden administration. Trump also vowed to eliminate taxes on social security and combat the housing crisis.

The economy and inflation is a key point of focus for voters in the upcoming election, with a recent Ipsos poll showing that voters believe the economy will be better under Trump, albeit by a slim margin.

Trump lashes out at Harris as presidential race heats up

Trump constantly veered into attacks against his Democratic rivals, criticizing their immigration policies with regards to the U.S.-Mexico border, as well as allegedly undermining economic progress made during his administration.

“I gave Harris and Biden an economic miracle and they quickly turned it into an economic nightmare,” Trump said. He said that the U.S. was a “third-world” economy and warned that Harris’ election would drive up inflation.

But Trump struggled to stay on the topic of the economy, engaging in personal attacks against his political rivals. He called Harris “stupid” while also criticizing the sound of her laugh, calling it the laugh of a person with mental problems.

Trump’s harsher rhetoric against Harris comes as a slew of polls showed her catching up or polling ahead of Trump in the 2024 race.

Harris is set to speak in North Carolina later this week. The state is a key battleground state in the upcoming elections.

Harris saw a boost in approvals after her nomination as the Democratic presidential nominee earlier in August. She picked Minnesota governor Tim Walz as her running mate- who was also a subject of Trump’s criticism.

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