Former Treasury Secretary Lawrence Summers warned about the potential for stagflation in the US due to Trump’s trade policies, citing tariff impacts on unemployment and inflation. He expressed concerns about consumer and business confidence declining further. Other economists, like Justin Wolfers, also see stagflation risks due to weak job growth and stubborn inflation.

Summers believes inflation may rise higher than expected, hinting at potential price pressure. The economist predicts adjustments to unemployment and inflation forecasts, with both likely to increase. Wolfers, echoing Summers’ concerns, sees stagflation looming due to rising unemployment and inflation levels, exacerbated by Trump’s tariffs.

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Read more at Yahoo Finance: ‘Confidence Has More Room To Decline’