Trump would make America’s inflation crisis worse, 16 Nobel economists warn

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Some economists are also concerned Trump’s plans to launch an immigration crackdown and unprecedented deportations will overheat the jobs market and boost consumer prices.

In the letter, the 16 Nobel economists expressed concern about the rule of law and stability if Trump wins the White House again.

“Among the most important determinants of economics success are the rule of law and economic and policy certainty,” the letter said. “Donald Trump and the vagaries of his action and policies threaten this stability and the US’s standing in the world.”

Beyond Stiglitz, the letter was signed by Robert Shiller, who famously called the mid-2000s housing bubble, former World Bank chief economist Paul Romer, and George Akerlof, the husband of US Treasury Secretary Janet Yellen.

By contrast, the economists praised Biden’s work on the economy, arguing his major investments in infrastructure, manufacturing and climate will lower long-term inflationary pressure and ease the clean energy transition.

“While each of us has different views on the particulars of various economic policies,” the economists wrote in the letter, “we all agree that Joe Biden’s economic agenda is vastly superior to Donald Trump’s.”

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