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When President-elect Donald Trump returns to the White House in 2025, he will assume a key position within the U.S. economy. On the campaign trail, the former President promised to eliminate regulations that hold back key U.S. industries and extend tax cuts that expire after 2025. The President-elect has also promised to embark on a large deportation operation when he enters office. Analysts believe Trump's fiscal ideas could influence the trajectory of employment, inflation, and more in the U.S. -- particularly if the Republican party wins both chambers of Congress. Watch the video above to see how the U.S. economy may change under President-elect Trump.
Persons: Donald Trump, Marcus Noland, Trump Organizations: White House, Peterson Institute for International Economics, Republican Locations: U.S
Donald Trump proposed mass deportation to lower housing costs and boost job opportunities. AdvertisementThe mass deportation of people living in the US illegally has been one of the cornerstones of the Republican presidential ticket leading up to the November election. Many Democrats say mass deportations would hurt businesses and employment opportunities for all Americans, in addition to separating families and displacing millions of people. She told BI that a mass deportation would devastate the agriculture, construction, and hospitality industries. AdvertisementHow much a mass deportation would cost the governmentThe Trump campaign has talked little about how mass deportations could be implemented and on what scale.
Persons: Donald Trump, , Trump, Kamala Harris, Biden, Harris, Douglas Nicholls, Nicholls, Regina Romero, Romero, " Romero, Duncan Braid, Braid, Davis, Chloe East, Taylor Rogers, Trump's, Rogers, hasn't, Marcus Noland Organizations: Service, Republican, Pew Research Center, Business, Pew Research, Trump, Immigration, Customs, American Compass, University of California, Brookings Institution, ICE, New York Times, American Immigration, Taxation, Economic, Manhattan Institute, FEMA, RNC, Peterson Institute for International Economics, American Immigration Council, Peterson Institute Locations: Los Angeles, Springfield, Aurora, Ohio, Colorado, Arizona, Yuma , Arizona, Mexico, Yuma, Tucson, Reading , Pennsylvania, US, Aurora , Colorado
The paper represents the most comprehensive analysis to date on the combined impact of Trump’s trade, immigration and Fed proposals. In that scenario, employment would be 9% lower than baseline by 2028 and inflation would surge to 9.3% by 2026. “So-called economists and experts doubted President Trump’s economic plans in his first term. That means the same factory workers Trump says he is trying to help would be hurt the most. Fed Chair Jerome Powell, who was nominated by Trump in 2017, cautioned against any effort to interfere with Fed independence.
Persons: Donald Trump, Trump, , Warwick McKibbin, Megan Hogan, Marcus Noland, they’ll, ” Karoline Leavitt, Trump’s, Kamala Harris, Harris, ” Trump, McKibbin, Mark Zandi, , Jerome Powell, ” Powell, We’re Organizations: CNN, Republican, Federal Reserve, Peterson Institute for International Economics, Peterson Institute, Trump, Security, , Peterson, Moody’s, Bloomberg Locations: United States, China, America, Georgia, Michigan, outflows
Why China and Japan are praying the US won’t default
  + stars: | 2023-05-25 | by ( Laura He | ) edition.cnn.com   time to read: +8 min
China and Japan are the largest foreign investors in American government debt. China was the largest foreign creditor to the United States for more than a decade. The falling value of Treasuries would lead to a drop in Japan and China’s foreign reserves. “If the United States defaults on its debt, it will not only discredit the United States, but also bring real financial losses to China,” it said. Analysts say Beijing has shown little willingness to fully integrate with global financial markets.
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