Trump’s campaign promise to ‘deflate inflation’ collides with economic reality

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Trump’s campaign promise to ‘deflate inflation’ collides with economic reality - Business Mirror

Quick Summary:

WASHINGTON—As a candidate last year, Donald Trump suggested he could easily conquer inflation and ease voters’ fears about the economy.

The latest consumer price figures have unnerved economists and the financial markets because they suggest that strong consumer spending, solid job gains and a falling unemployment rate could reignite inflation.

Such a steep cut might bring lower prices but also the pain of a sharp economic downturn.“That would be a roughly 4 percent of GDP cut to federal spending, all in one year,” said Michael Linden, a senior policy fellow at the Washington Center for Equitable Growth.“It would be an instant recession.