Washington D.C. (ABC MUNDIAL) - In a historic ceremony at the Capitol Rotunda amidst freezing temperatures, Donald Trump officially assumed office as the 47th President of the United States on Monday. Accompanied by Vice President JD Vance, Trump's inauguration marked a turning point witnessed by former presidents, influential tech billionaires, and lawmakers.

In his inaugural address, Trump launched a scathing critique of the Biden administration while outlining his vision for a renewed America under his leadership. He declared, "The golden age of America begins right now," emphasizing a commitment to prioritize national interests and unify the country behind his agenda.

Trump: "The Golden Age of the United States Begins Right Now" In his first statements as the 47th president, Trump declared, "The golden era of the United States begins right now." "From today onwards, our country will flourish and regain respect worldwide," he affirmed.

Trump Promised to "Defeat What Was Record Inflation" Inflation peaked at 9.1% in June 2022 after steadily rising in the first 17 months of Biden's presidency from a low of 0.1% in May 2020. The latest data shows it had fallen to 2.9% by December. However, historical periods have seen higher inflation rates, such as a rate of over 14% in 1980, according to the Federal Reserve.

Trump's Speech Trump reiterated his desire to regain control of the Panama Canal. During his campaign, Trump had not expressed intentions to regain the Panama Canal, but last month he began discussing his desire to reclaim this vital waterway. During his inaugural speech, Trump stated that the spirit of a 1977 treaty signed by President Jimmy Carter, which handed over control of the canal in 1999, had been violated. He argued that the waterway should never have been ceded and that "American ships are charged very high prices and not treated fairly," also claiming that "China is operating the Panama Canal." Earlier this month, he said he would not rule out using military force to take control.

Key points from Trump's address include:

• National Emergency Declaration: Trump announced plans to declare a national emergency at the US southern border, pledging stringent measures against illegal immigration.
• Executive Actions: He outlined forthcoming executive orders, including the immediate cessation of government censorship and the rollback of clean energy initiatives.
• Economic Policy: Trump reiterated his "drill, baby, drill" strategy to reduce inflation and overhaul trade policies with increased tariffs.
• Public Health and Education: Criticizing the US education system and public health services, he promised reforms to restore what he described as lost national pride.

The ceremony also highlighted preparations for the transition at the White House, where staff readied the residence for the incoming first family. Melania Trump's inauguration attire, featuring a distinctive hat by New York-based milliner Eric Javits, drew attention for its military-style elegance.

Despite Trump's ambitious promises, analysts remain skeptical about the feasibility of some of his economic goals, particularly concerning energy prices and production. Trump's declaration of a national energy emergency aims to reduce inflation by cutting bureaucratic red tape but faces challenges in significantly impacting oil prices due to market dynamics beyond direct governmental control.

As Trump assumes office for a second term, the world watches with expectations of significant policy shifts, including his declared intention to withdraw from the Paris climate accord and his emphasis on robust border security measures.