Experts; Trump’s Economic Plans Would Worsen Inflation

WASHINGTON (AP) — Donald Trump has vowed that if voters return him to the White House, “inflation will vanish completely.” Yet most mainstream economists say Trump’s policy proposals wouldn’t vanquish inflation. They’d make it worse. They warn that his plans to impose huge tariffs on imports, deport millions of migrant workers and demand a voice in the Federal Reserve’s interest rate policies would likely send prices surging. Sixteen Nobel Prize-winning economists signed a letter in June expressing fear that Trump’s proposals would “reignite’’ inflation, which has plummeted from 9.1% in 2022 and is nearly back to the Fed’s 2% target. The Peterson Institute for International Economics has predicted that Trump’s policies would drive consumer prices sharply higher two years into his second term.