Economics Weekly Round-Up: Trump's Tariffs, Inflation Woes, And The US Debt Crisis

The past week was a whirlwind of economic debates and political finger-pointing. From the 2024 election debate to the ongoing inflation concerns, the economic landscape of the United States was under intense scrutiny.

Here’s a quick recap of the top stories that made headlines.

Harris Vs. Trump: The Unemployment Debate

Vice President Kamala Harris and former President Donald Trump clashed over unemployment rates during their first debate for the 2024 election. Harris accused Trump of leaving behind the “worst unemployment since the Great Depression.” Trump, on the other hand, proposed a tariff of at least 10% on imported goods to boost the economy.

Read the full article here.

Marjorie Taylor Greene Criticizes Biden’s Inflation Management

Republican Rep. Marjorie Taylor Greene joined Trump in criticizing President Joe Biden over the nation's inflation levels. Greene expressed her concerns about the state of the economy under Biden's leadership, citing a nearly 20% increase in inflation over the past four years.

Read the full article here.

See Also: Obama-Era Economist Blasts Trump Tariffs: ‘Who Do You Think Is Going To Pay For All The Foreign Tariffs That Are Levied In Retaliation?

Inflation Hits Lowest Level Since February 2021

The U.S. annual inflation rate in August fell to its lowest point since February 2021, indicating a further easing of pressure on the cost of goods and services for U.S. consumers. This development has strengthened convictions for interest rate cuts by the Federal Reserve.

Read the full article here.

Trump’s Tariff Plan Could Backfire

Donald Trump's proposal to enforce dollar dominance in global trade might lead to economic disruption and potentially weaken the U.S. currency, warns Ulrich Leuchtmann, the head of foreign exchange research at Commerzbank AG. Trump’s threat to impose 100% tariffs on countries that avoid the dollar could result in "massive disruption" to the global economic system.

Read the full article here.

Peter Schiff And Dogecoin Influencer On US Debt

Influential economist Peter Schiff and Dogecoin influencer DogeDesigner highlighted the escalating national debt crisis in the U.S. They pointed out that the interest on U.S. debt has crossed $1 trillion for the first time, marking a 30% increase from the previous year.

Read the full article here.

Read Next:

• Stocks Edge Up As Producer Inflation Supports Rate Cut Bets, Small Caps, Miners Rally: What’s Driving Markets Thursday?

Photo courtesy: Shutterstock

This story was generated using Benzinga Neuro and edited by Ananya Gairola