29 sources·Politics

Economic Uncertainty Surrounds Trump’s Policies Amid Global Interest Rate Cuts

As Trump's tariffs and tax cuts loom, economists express concerns over inflation and economic repercussions while central banks address global financial challenges.

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Updated: Nov 7th, 2024, 11:48 AM ET

Summary

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President-elect Donald Trump's proposed policies on tariffs, tax cuts, and immigration are facing scrutiny as economists predict potential inflation and adverse effects on growth. The Bank of England cut interest rates to 4.75%, citing inflation concerns influenced by Trump's aggressive economic agenda. Analysts warn that increased tariffs could elevate inflation and costs for consumers, particularly impacting lower-income households. Despite government spending aimed at stimulating growth, the debates around budget impacts signal a complex economic landscape as central banks globally navigate these challenges.

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