Previously published on July 17, 2024 in
I’m an Economist: Here Is What I Would Predict for Inflation If Kamala Harris Were To Replace Biden
After the first presidential debate for this election year, there have been concerns whether President Joe Biden is fit to run for office against former President Donald Trump. Many in the Democratic Party have wondered if it’s time for Biden to drop out of the race. This comes on the heels of Biden stumbling over his words numerous times during the debate — seemingly not being able to connect certain thoughts. The big question is who would replace him?
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Warren said a focus on continuity with Biden’s economic policies by Harris would have little immediate impact on inflation.
“Conversely, new fiscal or monetary policies introduced by her administrations which are more progressive or expansive may cause upward pressure on inflation through government spending or regulatory changes,” he said.
“Trade policy is not usually associated with inflation, but since an August group of economists criticized Trump’s proposal to raise tariffs as inflationary, it deserves some mention in this context,” said Milton Ezrati, Chief Economist at Vested.
“Harris has shown no interest in trade policy,” he said. “Biden kept the original Trump tariffs on Chinese imports in place and has added to them recently for EVs, batteries and the like. Unless there is a side of Harris that she has kept carefully hidden, it is doubtful that she would deviate from the path set by Biden and so in this respect, have no special impact one way or the other.”