‘Pessimistic’: Economists warn Trump’s policies are raising prices 'quite substantially'
3 weeks, 5 days ago

‘Pessimistic’: Economists warn Trump’s policies are raising prices 'quite substantially'

Raw Story  

Looming tariffs and sweeping firings of federal workers are “chilling” the economy, ABC News reported Thursday. “It’s adding to investment uncertainty, and some people are holding back on investments.” Trump said that he will impose 25 percent tariffs on Mexico and Canada on March 4. And Elon Musk’s Department of Government Efficiency “also impacts consumption, because people are losing their jobs or are afraid of losing their jobs, so that might cause them to save more money,“ Ziemba said. “Views of current labor market conditions weakened,” said Stephanie Guichard, senior economist for global indicators at The Conference Board. This increase likely reflected a mix of factors, including sticky inflation but also the recent jump in prices of key household staples like eggs and the expected impact of tariffs,” Guichard said.

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