Newman: Trump and Harris are both threatening more inflation

Published On Aug 26, 2024, 5:58 PM

The article discusses how proposed policies by presidential candidates Donald Trump and Kamala Harris may lead to increased inflation. Trump’s plans involve implementing high tariffs on imports and mass deportations, which could raise consumer prices by nearly $2,600 annually for an average family. In contrast, Harris’s proposals focus on subsidies for housing and price controls on basic needs like food, which economists warn could lead to shortages and higher prices due to reduced supply. Both sets of policies could result in incremental increases in inflation, potentially influencing Federal Reserve monetary policy regarding interest rates.