Experts warn Trump's economic plans could fuel higher inflation rates

Quick Summary:

Sixteen Nobel Prize-winning economists signed a letter in June expressing fear that Trump's proposals would reignite' inflation, which has plummeted since peaking at 9.1 per cent in 2022 and is nearly back to the Fed's 2 per cent target.

They warn that his plans to impose huge tariffs on imported goods, deport millions of migrant workers and demand a voice in the Federal Reserve's interest rate policies would likely send prices surging.

With characteristic bravado, Donald Trump has vowed that if voters return him to the White House, inflation will vanish completely".

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Article Details

Category: BusinessFinance

Markets: IndiaChinaUnited States

Topics: Economic plans Consumer prices Inflation Trump Immigration Economists Economic analysis Federal Reserve Tariffs Policy proposals

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-15 @ 10:08:32 (12 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 1138 words

Reading Time: 7 minutes read

Sentences: 54 lines

Sentence Length: 22 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 23066308

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