Most Economists Think US Inflation Will Be Big, Will Last

Richard Wolff on Global Times

On Global Times, Richard Wolff dives into the topic of inflation and its impending impact on the American economy. Despite Mr. Trump's advisors believing inflation will be small and temporary, most economists are skeptical, anticipating significant and lasting inflation. The current rise in prices at grocery stores and on imported goods, coupled with the delayed effects of tariffs, paints a bleak picture for future inflation. The declining reputation of the U.S., coupled with its fiscal challenges and weakening dollar, further exacerbate the situation. With companies selling pre-tariff stock, a more pronounced inflation wave is expected in the second half of the year, leaving uncertainty about the severity and duration of the impending economic turbulence.