‘Deeply concerned.’ 16 Nobel economists sound the alarm on Trump and inflation
CNN
Inflation remains public enemy No. 1 in today’s economy. Americans are fed up with the cost of living and former President Donald Trump says he will help.
Inflation remains public enemy No. 1 in today’s economy. Americans are fed up with the cost of living and former President Donald Trump says he will help. Yet 16 Nobel Prize-winning economists are warning that Trump’s proposals wouldn’t just fail to fix inflation — they would make matters worse. “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. The letter, organized by famed economist Joseph Stiglitz, argued there are valid reasons to worry the Trump agenda will “reignite” inflation. In particular, the economists point to Trump’s “fiscally irresponsible budgets” and nonpartisan research from the likes of the Peterson Institute, Oxford Economics and Allianz that finds the Trump agenda — if successfully enacted — would increase inflation. Trump approved $8.4 trillion of new 10-year borrowing during his term — nearly twice as much as President Joe Biden has so far in office, according to fiscal watchdog group the Committee for a Responsible Federal Budget.
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