Trump’s promises could make things worse
Even though the inflation levels at this point are currently in control, with hopes of it returning to normal levels in a few weeks, prices have still stayed very high since the post-pandemic spike, meaning that things need to managed by Trump if he comes to power, and keep inflation at bay. However, his promises of tax waivers, and deporting undocumented immigrants, are currently colliding with the interests of the US economy, and could lead to increased inflation levels, and even has the potential to bring in a recession, which is still lurking round the corners, even after plans for Fed rate cuts.
In the second Presidential debate, topics of inflation and economy were of utmost priority right from the start of the event, and both candidates promised to address it when they came to power, but the policies being planned out by Trump, may not be enough to strengthen the state of the current state of the US economy, feel economists, as per a USA Today report.
Perks of Trump coming to power
The positives of Trump’s probable return to power include declination of crime rates across various US cities where offences are on the rise following illegal immigration, a revival of American enterprise through increased tariffs on imports, cutting down automobile insurance, tax cuts for the working class plus zero taxation on tips, social security and overtime.
The thriving drugs cartels of Mexico and Latin America might face intensive military action from the US, like the Reagan-age. Mr. Trump might be instrumental and the chief negotiator between the warring nations in Europe and the Middle-East.
FAQs:
Is Donald Trump harmful for the US economy?
While some economists claim that Donald Trump would be helpful in strengthening the US economy and the stock markets, others present an opposing view, stating that Trump coming to power could massively increase inflation levels in the country. Is US heading towards inflation?
The current levels of inflation are reportedly under control but there is no saying where it may lead after the end of the US elections. Much depends on the fact about who is coming to power at the end of the US polls 2024.
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