One way to see the impact is to track #inflation over the past year. As the effects of the pandemic have worn off, the pace of price increases declined from an annual rate of 3% in January to 2.3% in April. Then, as #Trump’s policies started to take effect, inflation rebounded to 3%. “In some ways, this administration could have come in & done nothing & made progress on inflation,” said Claudia Sahm, a longtime #FederalReserve economist who now works at New Century Advisors, an investment firm.
“But the policies they’ve chosen have created extra costs for businesses, & businesses tend to pass on costs,” Sahm added.
The cost of #Trump’s policies is likely to increase in the coming months.
His most inflationary policy is his campaign to build a wall of #tariffs around the US #economy. Tariffs are #taxes on imports, & they are *initially* paid by the businesses that bring goods into the #US.
#FactCheck #TrumpLies #inflation #affordability #CostOfLiving #recession #trumpcession
