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Writing in The Washington Post, Phillip Bump explained that for Trump's first term as of September 2019, performance on several key variables was comparable or below Obama's second term (January 2013 – September 2016), as follows: 1) Real GDP was up 7.5% cumulatively under Obama, versus 7.2% under Trump; 2) The total number of jobs was up 5.3 ...
Inflation began surpassing income growth just as Biden took office in 2021 and never stopped until the start of 2023. That held true even though wages rose faster under Biden than during Trump’s ...
Concerns about inflation helped send Trump back to the White House. Yet under his proposed policies, inflation could come roaring back. Inflation ticked up to 2.6% in October, its first increase ...
Financial experts, like Ben Johnston, agree that Trump’s policies will increase inflation in the short run. Johnston mentioned how higher tariffs can elevate the costs of goods and services ...
Now that Donald Trump has been elected, it remains to be seen what effect his presidency will have on inflation and cost of living, with experts divided on how his policies will play out.
Inflation was much lower under Trump, never topping an annual rate of 2.4%, according to the Bureau of Labor Statistics. The annual rate reached as high as 8% in 2022 under Biden and is currently ...
The federal government ran deficits under Presidents George W. Bush and Barack Obama, and during Trump's first term, and yet inflation remained under control until 2021.
The legal basis cited in Trump's tariff order is Section 232 of the Trade Expansion Act of 1962 which under certain circumstances allows the president to impose tariffs based on the recommendation from the U.S. Secretary of Commerce if "an article is being imported into the United States in such quantities or under such circumstances as to ...