Trump Proposes New Tariffs and Deportations That Could Worsen Inflation, While Undermining Fed Independence
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Trump is proposing new tariffs and deportations that could raise prices and reignite inflation, even as he blames Biden for inflation.
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Trump's economic advisers that previously restrained his most extreme plans have left or distanced themselves.
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Trump's proposed 10% tariff on all imports could substantially increase inflation according to estimates.
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Mass deportations could create labor shortages and price spikes in sectors like agriculture and construction.
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Trump could attempt to replace Federal Reserve Chair Jerome Powell with someone more inclined to follow his demands, testing the Fed's independence.