A bunch of Nobel prize winning economists have some thoughts on Trump’s “economic proposals”
Sixteen Nobel Prize-winning economists signed a joint letter Tuesday warning of what they see as economic risks if former President Donald Trump were to serve a second term, including reheated inflation.
“While each of us has different views on the particulars of various economic policies, we all agree that Joe Biden’s economic agenda is vastly superior to Donald Trump’s,” the economists wrote. Axios was first to report the letter.
“There is rightly a worry that Donald Trump will reignite this inflation, with his fiscally irresponsible budgets,” wrote the group of politically progressive academics.
Trump has so far proposed making his first-term tax cuts permanent, imposing universal tariffs on all imports, with a China-specific tariff rate between 60% and 100%, and pressuring the independent Federal Reserve Board to cut interest rates.
Economists and Wall Street analysts alike have predicted that any or all of those proposals could reinflate prices, which remain vulnerable despite cooling slightly in recent months.
[…]
“Nonpartisan researchers, including at Evercore, Allianz, Oxford Economics, and the Peterson Institute, predict that if Donald Trump successfully enacts his agenda, it will increase inflation,” the economists wrote.
They weighed in because they were concerned about polls which showed that mosty Americans think Trump would be better than Biden on the economy (mostly because he’s a liar…)
The Trump campaign responded with a serious riposte defending his policies:
“The American people don’t need worthless out of touch Nobel peace prize winners to tell them which president put more money in their pockets,” Trump campaign spokesperson Karoline Leavitt said in a statement to CNBC.
She called them “worthless Nobel Peace Prize winners.” She’s almost as smart as her Dear Leader.
I guess most people “do their own research” these days so I’m sure they’ve come to their own conclusions about the possible effects of Trump’s proposals. The media might take note, however and consider this when they are writing their hundreds of pieces about how Americans are economically suffering more than any time in human history. I’m not sure they will though.