Sixteen Nobel Prize-winning economists signed a joint letter to warn of the economic risks they see in a potential second term of Donald Trump, including reheated inflation.
Many of these same economists signed a September 2021 letter in favor of President Biden's Build Back Better investment package. Critics at the time warned that the spending could stoke inflation."While each of us has different views on the particulars of various economic policies, we all agree that Joe Biden's economic agenda is vastly superior to Donald Trump's," the economists wrote.
Economists and Wall Street analysts alike have predicted that any or all of those proposals could reinflate prices, which remain vulnerable despite cooling slightly in recent months. The timing of Tuesday's letter was notable, coming just days before Trump and Biden are scheduled to face off in the first presidential debate of the general election. The Atlanta debate hosted by CNN is expected to dedicate significant time to the economy and specifically, inflation.
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