Time: 2024-07-14
In recent months , inflation has been a topic of concern , with experts predicting a rise regardless of who wins the next election . According to research firm Oxford Economics , both Joe Biden and Donald Trump 's policies are inflationary , but the degree to which inflation will increase varies . Under a Trump presidency , peak inflation is expected to reach 3.8 % , while under Biden , it would be slightly higher than the current 3.3 % . Trump 's policies , including draconian immigration measures and tariffs on foreign goods , are seen as major drivers of inflation , while Biden 's focus on family support policies may lead to a temporary spike in inflation followed by stable economic growth.
A survey conducted by The Wall Street Journal revealed that a majority of economists believe Trump 's policies are more likely to reignite inflation compared to Biden 's . Trump 's proposed tariffs on imports and crackdown on immigration could lead to higher consumer prices . On the other hand , economists see Biden 's spending packages as a potential inflation threat . Despite this , economists estimate that federal deficits will rise more under Trump due to his proposed tax cuts . The survey also highlighted concerns about inflation under a second Trump term , with several economists warning about the dangers it could pose.
The survey results add to the ongoing debate about the impact of Trump and Biden 's policies on inflation . While some experts warn of inflationary risks under both candidates , others point out the complexities of the economic landscape , noting that factors beyond the president 's control also play a significant role in shaping the economy . Biden 's campaign has used the survey to emphasize the potential consequences of Trump 's policy agenda , highlighting the importance of economic decisions in the upcoming election . However , it remains to be seen how inflation trends will unfold in the coming months and how the policies of the next president will shape the economic landscape .
In conclusion , the debate over inflation and the impact of Trump and Biden 's policies continues to be a topic of interest among economists and experts . With differing views on the potential outcomes of each candidate 's agenda , the upcoming election will undoubtedly have significant implications for the economy and inflation rates in the United States.
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