Economist Warns America In 'Early Stages' Of Very Worrying Trend
HuffPost
"You've all felt" it, said Justin Wolfers.
Economist Justin Wolfers noted Wednesday that while President Donald Trump may have just rolled back tariffs on some imported grocery items such as coffee and bananas, most tariffs remain in place — and so do the damaging economic consequences of them.
“So far we’ve seen rising inflation — well, not really rising, sorry, persistently high inflation — and that’s one of the things keeping interest rates high,” Wolfers, an economics professor at the University of Michigan, explained on ABC News.
Broadly speaking, tariffs disrupt supply chains and “create what economists call a supply shock,” he said, before warning:
“We’ve seen the early stages of what economists call stagflation: the ‘flation’ part is inflation, which you’ve all felt at the grocery store, and the ‘stag’ part is stagnation — rising unemployment and slower economic growth than we otherwise would have.”
Trump had vowed on the 2024 campaign trail to tackle inflation on the first day of his second term.
The software company was alone responsible for more than two-thirds of the S&P 500's drop.
Senior administration officials had quickly seized on Saturday's fatal shooting in Minnesota as an opportunity to blame the victim.
“Georgia's a blueprint,” said Kristin Nabers of the left-leaning group All Voting Is Local.
The former Transportation Secretary highlighted some “telling” reasons involving President Donald Trump and Vice President JD Vance.
ICE staffers will only work in U.S. diplomatic offices such as the Milan consulate and "not on the ground" at the 2026 Milan Cortina Games.
The No. 3 Senate Democrat joins a growing list of senators heading for the exits.
The first lady was asked on Fox News about a moment involving the president that features in her upcoming documentary, "Melania."
The major voting bloc is saying "no, no, no," to the president, noted CNN's chief data analyst.
The Fox News moment went viral on social media for the wrong reason.
No one was injured when the driver struck a door of a building in the complex before reversing and striking it several more times.
The president pushed conspiracy theories in a series of Truth Social posts.
Shirley Raines, a social media creator known for feeding and caring for homeless people, has died at 58, according to her organization.
The conservative political commentator also argued that the Trump administration didn't realize how complex the immigration issue would be.