Trump Promises Pre-Covid Prices

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widespread price plunges

CNN

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Trump promises to make prices plunge again. That’s a dangerous proposal | CNN Business

Summary

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73% Informative

Former President Donald Trump has promised to bring down prices across the economy.

But broad-based price declines are not only improbable, they would bring about a doom loop difficult to escape from.

The way to bring about deflation would be to create a massive recession, economist Justin Wolfers says.

The real goal is not to turn the clock back on prices, but to grow into the new level of pricing.

Trump ’s plan to impose new tariffs on all US imports and 60% tariffs on Chinese goods would cost the typical middle-income household at least $1,700 a year, according to research from the Peterson Institute for International Economics .

16 Nobel Prize -winning economists warned earlier this summer that the Trump agenda won't just fail to fix inflation, it will “reignite” it.

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English

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