@
BigGuy2 Yes this is related to trump's policies so yes his fault.
Shierholz, a former Labor Department chief economist, focused, more importantly, on the future, and the Republicans’ planned $4.5 trillion tax cut for corporations and the rich, coupled with its $1.5 trillion-$2 trillion in cuts in domestic spending and its wholesale firing of federal workers. She didn’t like what she saw.
Shierholz saw the Federal Reserve Board would face rising inflation due to the pump-priming of the GOP plans at a time of full employment. It would have to slam on the brakes by raising interest rates—increasing the cost of borrowing for both the federal government and for consumers on their credit cards, home loans, and car loans. That would dampen the growth the consumer-based economy needs.
“Large deficit-financed tax cuts would likely push aggregate demand above the economy’s capacity to produce, which would either manifest as higher inflation or—if the Federal Reserve intervenes quickly and forcefully to forestall upward pressure on inflation—higher interest rates,” Shierholz explained.
https://www.peoplesworld.org/article/top-economist-tells-congress-trump-musk-policies-risk-increased-inflation-and-recession/
