Donald Trump has vowed that if voters return him to the White House, “inflation will vanish completely.”.
Read full article: KSAT Q&A: BCSO Sheriff Javier Salazar discusses dog attacks, Venezuelan gang Tren de AraguaRead full article: Why is a former fire union boss’s arrest not in Bexar County’s public court records?Keep your drink cold longer with these tumblers. See more Insider Deals here.
FILE - Freshly picked bananas float in a sorting pool as they are readied for packing and export at a farm in Ciudad Hidalgo, Chiapas state, Mexico on May 31 2019. FILE - Republican presidential nominee former President Donald Trump speaks along the southern border with Mexico, on Aug. 22, 2024, in Sierra Vista, Ariz. – With characteristic bravado, Donald Trump has vowed that if voters return him to the White House, “inflation will vanish completely.
What’s more, as tariffs raise the cost of imports, the weakened competition from foreign products makes it easier for U.S. producers to raise their own prices. Trump has made some implausible claims for protectionist policies. Asked how he would lower grocery prices — a particular irritant to many Americans — Trump has said the nation should limit the importation of food because America's farmers are “being decimated’’ by foreign competition.
The Trump campaign points out that U.S. inflation remained low even as Trump aggressively imposed tariffs as president. Consumer prices rose just 1.9% in 2018, 2.3% in 2019 and 1.4% in 2020. And they note that, once in office, the Biden-Harris administration retained most of Trump’s tariffs, though Harris has criticized his plans to vastly expand their use.
And the inflationary backdrop was radically different during Trump’s first term. Back then, the Fed worried mainly about raising inflation up, not down, to its 2% target. The economy’s unexpectedly high-octane rebound from the COVID-19 recession of 2020 caused severe shortages of parts and labor and unleashed inflationary pressures that had lain dormant for decades.
Immigrants filled the gap. Over the past four years, the number of people in the United States who either have a job or are looking for one rose by nearly 8.5 million. Roughly 72% of them were foreign born.
Mark Zandi U.S. News Kamala Harris Business Donald Trump Politics
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Trump says if he loses, 2024 run will be last presidential runPresident Donald Trump seemed to rule out a fourth bid for the White House.
Read more »
Democratic Muslim Mayor Backs Trump in Key Swing StateAmer Ghalib, the mayor of Hamtramck, Michigan, endorsed Donald Trump's bid for the White House.
Read more »
‘It’s terrifying’: Former Trump aide on Laura Loomer working in Trump’s White HouseThis is additional taxonomy that helps us with analytics
Read more »
First Look: The People's House Interactive White House ExperienceThe website that Washington lives by.
Read more »
Pentagon has recommended giving white phosphorus shells to Ukraine, but White House keeps saying noNational Security Adviser Jake Sullivan says the U.S. government is not interfering in Israeli military planning of a counteroffensive in Gaza but that safely evacuating American citizens and civilians from the region remains a top priority for the Biden administration.
Read more »
Poll: Donald Trump Leads Harris with Independents, White Working Class Voters in Tight RaceSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Read more »