Larry Summers Warns Donald Trump's Fiscal Policy Could Inflict More Damage Than One That Precipitated Great Depression: 'Prescription For The Mother Of All Stagflations'
Portfolio Pulse from Shanthi Rexaline
Former Treasury Secretary Larry Summers criticized Donald Trump's fiscal policy proposals, warning they could lead to severe stagflation. Summers highlighted the inflationary impact of Trump's tariff and labor restriction plans, comparing them to the damaging Smoot-Hawley tariffs of the Great Depression era. The iShares TIPS Bond ETF (NYSE:TIP) saw a slight increase, reflecting market concerns about inflation.
June 16, 2024 | 5:33 pm
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POSITIVE IMPACT
The iShares TIPS Bond ETF (NYSE:TIP) saw a slight increase of 0.12%, reflecting market concerns about inflation due to Trump's proposed fiscal policies.
The ETF tracks inflation-protected U.S. Treasury bonds, and its slight increase indicates market concerns about potential inflationary impacts from Trump's proposed policies.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 50