Inflation has generally dropped significantly in most developed countries and is mostly tied to post-pandemic effects and the war in Ukraine. So if you ignore the debilitating influence of Trump, you would expect inflation to continue to drop in the US too.
The 3% rate isn’t actually all that high currently, but you’d expect it to trend up again due to tariffs, both from the actual effects and as an excuse for companies to raise prices.
Or Trump could cause a serious recession/depression, in which case inflation will drop (but you won’t be able to buy anything anyway, since you’ll have lost your job).
You are correct. And if Biden or Harris had been elected and we could he reasonably assured we’d continue on a stable path we’d probably be in a different situation. But Trump and team are a different story.
Inflation has generally dropped significantly in most developed countries and is mostly tied to post-pandemic effects and the war in Ukraine. So if you ignore the debilitating influence of Trump, you would expect inflation to continue to drop in the US too.
The 3% rate isn’t actually all that high currently, but you’d expect it to trend up again due to tariffs, both from the actual effects and as an excuse for companies to raise prices.
Or Trump could cause a serious recession/depression, in which case inflation will drop (but you won’t be able to buy anything anyway, since you’ll have lost your job).
You are correct. And if Biden or Harris had been elected and we could he reasonably assured we’d continue on a stable path we’d probably be in a different situation. But Trump and team are a different story.