Yeah, Trumps chief economic advisor is saying this...
Former Treasury Secretary Larry Summers disagreed with Hassett’s contention that tariffs will cause a drop in prices for American consumers.
“This is the biggest self-inflicted wound we've put on our economy in history. We are increasing inflation because the prices are higher because of the tariffs. That gives people less spending power. That means fewer jobs," Summers said after Hassett's interview. "Markets are looking at all of that. And they think companies are going to be worth $5 trillion less than they thought before these tariffs started. And that's just the loss to companies. If you add in the loss to consumers, a reasonable estimate would probably be something like $30 trillion.”
I guess we'll have to see. I don't pretend to know the answer at this point unlike some here, but when I see a post like this, I think it needs balance
