Inflation Affects Presidential Election

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Inflation

CBS News

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Trump and Harris' views on inflation, according to their records and what they've said

Summary

Nutrition label

82% Informative

76% of registered voters said inflation was a major factor in their choice for president.

Inflation is the rate of an increase in the price of goods and services over time.

The Federal Reserve , which sets monetary policy, has been trying to give the nation aIts target inflation rate is 2% . The Biden administration has been tackling the effects of inflation.

Trump has said he wants to impose tariffs of 60% on Chinese imports and 10% to 20% on goods from other foreign countries.

A tariff hike to 60% would cost middle-class families between $1,500 and $2,500 more a year.

A Republican election sweep in Congress and the White House would increase the annual inflation rate to 3.5% in 2025 .

VR Score

Informative language

Neutral language

Article tone

semi-formal

Language

English

Language complexity

Offensive language