Reported about 1 year ago
Sixteen Nobel Prize-winning economists criticized potential tariffs and immigration policies under a second Trump presidency for lasting impacts on US inflation. Scott Bessent, Key Square Group founder and former Soros Fund Management CIO, disagreed with economists like Morgan Stanley's Mike Wilson, believing Trump's policies will aid where Biden has failed. Bessent criticized the Biden administration's economy and refuted concerns about inflation and labor costs under Trump's potential policies, citing factors like tariff effects, regulation cuts, and energy dominance. The immigration piece was also discussed, emphasizing how curbing immigration may not necessarily hinder job openings. Bessent believes a Trump 2.0 administration could control budget deficits, leading to reduced inflation.
Source: YAHOO