Renowned economist Justin Wolfers recently expressed his skepticism about the competency of Donald Trump’s economic team and the potential impact of his policies.
What Happened: Wolfers took to X on Wednesday, to voice his concerns about the economic team that would serve under Trump if he were to get re-elected. He stated, “The list of economists who’ve said they will willingly serve under Trump is the least impressive list of economists in history.” He further criticized Trump’s approach to policy-making and the lack of a competent economic team.
Wolfers’ comments come amidst a wave of discussion among economists regarding Trump’s proposal to eliminate federal taxes on Social Security income. While some economists, like Steve Moore, co-founder of the Committee to Unleash Prosperity, have supported Trump’s proposal, others have expressed concerns about the potential economic risks associated with his policies.
Why It Matters: Trump’s economic policies have been a subject of debate among economists. A group of 16 Nobel Prize-winning economists had earlier warned about the potential economic risks if Trump were to be re-elected for a second term. They cautioned that a second Trump term could lead to a resurgence of inflation.
Furthermore, a survey conducted by The Wall Street Journal suggested that a potential win for Trump in the upcoming presidential election could result in a surge in inflation, deficits, and interest rates. Analysts have also warned that Trump’s “America-first” policies could lead to a surge in global inflation.
Wolfers’ post on X reflects the concerns shared by many economists about the potential economic impact of Trump’s policies and the competency of his economic team.
Kamala Harris led Trump by three points in a recent poll, with key support from Independent voters and strong net favorability, according to a Benzinga report.
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This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal
