Trump's Economic Plans Would Actually Worsen Inflation, Experts Warn | HuffPost Latest News - Action News
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Posted: 2024-10-16T12:08:27Z | Updated: 2024-10-16T12:08:27Z

WASHINGTON (AP) With characteristic bravado, Donald Trump has vowed that if voters return him to the White House, inflation will vanish completely.

Its a message tailored for Americans who are still exasperated by the jump in consumer prices that began 3 1/2 years ago.

Yet most mainstream economists say Trumps policy proposals wouldnt vanquish inflation. Theyd make it worse. They warn that his plans to impose huge tariffs on imported goods, deport millions of migrant workers and demand a voice in the Federal Reserves interest rate policies would likely send prices surging.

Sixteen Nobel Prize-winning economists signed a letter in June expressing fear that Trumps proposals would reignite inflation, which has plummeted since peaking at 9.1% in 2022 and is nearly back to the Feds 2% target .