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Which presidential candidate would better address inflation, President Joe Biden or former President Donald Trump? In the past week, two separate groups have warned that Trump’s policies would make inflation worse. Throughout his administration, Biden has struggled to gain support for his economic policies, mostly due to the impact of persistent inflation and the subsequent interest rate hikes imposed by the Federal Reserve.
“We the undersigned are deeply concerned about the risks of a second Trump administration for the US economy,” the economists wrote in the Tuesday letter, which was first reported by Axios. Under the so-called Republican Sweep scenario, which the forecasters place at a 35 percent probability, consumer price inflation accelerates from 3 percent in 2024 to 3.6 percent in 2025, according to the three economists who authored the report.
With little over four months to go before the presidential election, 16 Nobel prize-winning economists are cautioning voters on what they see as the inflationary pitfalls of another Trump administration.
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