Trump’s economy is tanking, according to the Federal Reserve’s latest forecast. In the FOMC’s Summary of Economic Projections, Fed officials are now projecting that Trump’s chaos will lead to higher unemployment, faster inflation, and slower growth – all the ingredients for stagflation. Earlier this month, Powell warned that Trump’s trade wars will likely raise prices for consumers.
Groundwork Collaborative’s Chief of Policy and Advocacy Alex Jacquez reacted with the following statement:
“The Federal Reserve’s projections confirm what millions of Americans are already thinking: President Trump is steering our economy toward disaster. Voters elected President Trump to lower the cost of living, and instead, they continue to be saddled with persistently high inflation and interest rates.
“Launching chaotic trade wars with our allies and gutting Social Security, Medicaid, and other vital programs in order to fund tax breaks for his billionaire donors isn’t making life more affordable for working-class families. It is, however, a perfect recipe for stagflation.”
This content originally appeared on Common Dreams and was authored by Newswire Editor.
Newswire Editor | Radio Free (2025-03-19T21:34:09+00:00) Fed Officials Warn Trump is Steering Our Economy Toward Disaster, Stagflation. Retrieved from https://www.radiofree.org/2025/03/19/fed-officials-warn-trump-is-steering-our-economy-toward-disaster-stagflation/
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