Trump promises to make prices plunge again. That’s a dangerous proposal
CNN
Americans crave pre-Covid prices. Former President Donald Trump is promising to make them a reality.
Americans crave pre-Covid prices. Former President Donald Trump is promising to make them a reality. “Prices will come down,” Trump told voters during a speech last week laying out his vision for a return to the White House. “You just watch: They’ll come down, and they’ll come down fast, not only with insurance, with everything.” There’s no doubt the federal government can help influence the price of certain goods and services. However, broad-based price declines are not only improbable, they would bring about a doom loop difficult to escape from. “Prices will come down and come down dramatically and come down fast,” he said. Trump vowed to slash not just the price of gasoline, cooling bills and electricity, but predicted this would happen across the economy. “Unquestionably, this is what people want to hear. And unquestionably, this is unrealistic,” Justin Wolfers, an economist at the University of Michigan, told CNN in a phone interview.
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