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US: Economists Warn That Trump's Agenda Will Spur Inflation, FT

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A new report from the Financial Times found that: “Surveys of more than 220 economists in the US, UK and Eurozone on the economic impact of Trump’s return to the White House showed most respondents believed his protectionist shift would overshadow the benefits of other elements of what the president-elect has dubbed “Maganomics”.”

  • FT adds: “Many economists in the US, who were polled jointly by the FT and the University of Chicago’s Booth School of Business, also believe a new Trump term will spur inflation and lead to more caution from the Federal Reserve on cutting interest rates.”
  • Şebnem Kalemli-Özcan, a professor at Brown University who also sits on the New York Fed’s economic advisory panel, said: “Trump’s policies can bring some growth in the short term, but this will be at the expense of a global slowdown which then will come back and hurt the US later on. His policies are also inflationary, both in the US and the rest of the world, hence we will be moving to a stagflationary world.”

Figure 1: Economists’ Expectations of Trump Administration's Policies on Economic growth in the US, Eurozone and UK

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A new report from the Financial Times found that: “Surveys of more than 220 economists in the US, UK and Eurozone on the economic impact of Trump’s return to the White House showed most respondents believed his protectionist shift would overshadow the benefits of other elements of what the president-elect has dubbed “Maganomics”.”

  • FT adds: “Many economists in the US, who were polled jointly by the FT and the University of Chicago’s Booth School of Business, also believe a new Trump term will spur inflation and lead to more caution from the Federal Reserve on cutting interest rates.”
  • Şebnem Kalemli-Özcan, a professor at Brown University who also sits on the New York Fed’s economic advisory panel, said: “Trump’s policies can bring some growth in the short term, but this will be at the expense of a global slowdown which then will come back and hurt the US later on. His policies are also inflationary, both in the US and the rest of the world, hence we will be moving to a stagflationary world.”

Figure 1: Economists’ Expectations of Trump Administration's Policies on Economic growth in the US, Eurozone and UK

Keep reading...Show less