All of this would be seriously inflationary. So, by the way, would mass deportation of a significant part of the U.S. work force...
Wednesday, August 28, 2024
Opinion | Why Economists Worry About Trumpflation - The New York Times
So here's my Trumpflation story: After being returned to power, Trump, with his mercantilist views, tries to eliminate trade deficits with tariffs. When this fails, in part because the value of the dollar has gone up, he raises tariffs even higher, while leaning on the Fed to cut interest rates to push the dollar back down.
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