Trump's Inflation Fix or Fluke? Economists Say Otherwise

Donald Trump claims his return to the White House would eliminate inflation, but economists warn otherwise. Tariffs, mass deportations, and a politicized Federal Reserve are some of the factors they believe would increase inflation. Projections suggest inflation could spike significantly under Trump's proposed policies in a potential second term.

In a bold declaration, Donald Trump promises that if he is re-elected as President, he will eliminate inflation entirely. However, economists argue that his policy measures, such as imposing hefty tariffs and deporting migrant workers, could exacerbate inflation rather than control it.

Sixteen Nobel laureates caution that Trump's strategy could re-ignite inflation, despite recent substantial decreases. The Peterson Institute for International Economics suggests Trump's policies could push consumer prices higher within two years if implemented. Conversely, vice president Kamala Harris' economic plans are not expected to have a significant inflationary impact.

Trump's tariffs have been a focal point of his economic policy, previously sparking a trade war with China. His proposed tariffs could lead to increased costs for American households. Furthermore, Trump's stance on immigration could inverse the current decrease in inflation brought about by a surge in foreign workers.

(With inputs from agencies.)