And let's not forget Trump's proposal to weaken the dollar as a vehicle to increase exports by making US goods less expensive to similar products produced in other countries. While the strategy may or may not increase exports it will definitely increase inflation. This might be Trump’s most inflationary, economically destructive idea yet Supply-Siders Must Save Donald Trump From His Dollar-Debasement Dreams https://www.politico.com/news/2024/04/15/devaluing-dollar-trump-trade-war-00152009
Nuanced answer...it depends on who controls the legislative branch. If Democrats had complete control of the House and the Senate the first two years inflation would increase for sure. Give a socialist a blank check and that is like giving a little kid an unlimited voucher at a candy store. Democrats would indulge and gorge themselves beyond their wildest dreams if they had a blank check to do whatever they wanted. Since they also want to win elections I would expect a scripted point in time where they reel in spending so they can have some plausible deniability when a potential referendum is coming down the pike in 2028.
I'm not sure why that matters at all actually. Monetary policy and dealing with inflation is largely the domain of the Federal Reserve. Guarantee Trump wont appoint an inflation hawk to the Fed either unless they want a recession.
Inflation is not entirely a function of monetary policy. Fiscal policy matters too. If a party has control of several branches they can definitely create a fiscal policy that encourages inflation. How Fiscal Policy Drives Inflation
We have the same fiscal policy from congress no matter who is in charge, deficit spending. And I would say the Democrats are generally more responsible and given to listening to deficit scolds when doing it.
Ants without the queen can't be blamed for their lack of direction any more than the Dem sheeple can be blamed for eating propaganda pablum swilled by the MSM.
Trump appointed Jerome Powell to head the Fed in 2018 and within months the Dear Leader was criticizing his own appointee for not lowering interest rates.
Republicans are only concerned with fiscal responsibility when there is a Democrat in the White House.
To summarize the tally thus far... it's early, we still have many precincts not yet reporting, but here's where we are thus far: Yes 0% Maybe 9% Hell naw 91%
True. The choices on the ballot are more deficit spending vs. less deficit spending. Less deficit spending = less inflation all other things equal.
So Biden is responsible for our rampant spending, but if a Republican is in the White House, it's congress that is being irresponsible. Do I have that right?
Agree and disagree. Some are suffering, no doubt (no matter who is president). On the other hand, many are better off than they were. I'm fortunate to count myself in the latter group.
