Majority of economists say inflation would be higher under Trump than Biden: WSJ survey

• A new Wall Street Journal survey found that a majority of economists polled believe Donald Trump's policies would be more likely to reignite inflation than President Biden's would.
• Sixteen Nobel Prize-winning economists previously came out with a letter voicing the same concerns.
• As Biden faces growing pressure from his party to drop out of the presidential race, he has defiantly pledged to keep running and focused his attacks on Trump.

A majority of economists surveyed by The Wall Street Journal said former President Donald Trump's policies would be more likely to reignite inflation than President Joe Biden's would.

Of the 50 economists who answered questions about Trump and Biden in the survey, 28 of them said the risk of a return to high inflation levels was greater under the plans proposed by the Republican, than under those of the incumbent Democrat.

Eight of the economists in the WSJ survey said inflation would be worse under Biden than Trump. The other 14 said the difference between the two agendas would be negligible.

Economists and Wall Street analysts say that Trump's hardline tariff proposals — a 10% tariff on all imports paired with a 60 to 100% China-specific rate — could increase producer costs that translate to higher consumer prices.

Trump also wants to crackdown on immigration, which could cut off the stream of immigrant workers who have buoyed the strong U.S. labor market without rekindling inflation.

Meanwhile, the several economists who saw Biden as the bigger inflation threat cited large spending packages.

Still, 51% of economists in the WSJ survey estimate that federal deficits will rise more under Trump, who has proposed making his first-term tax cuts permanent. Meanwhile, 22% of economists think