Fresh Air The Harris/Trump Economic Proposals, Explained
11 snips
Oct 3, 2024 
David Wessel, a senior fellow at the Brookings Institution with expertise in fiscal and monetary policy, discusses the economic proposals from Kamala Harris and Donald Trump. He contrasts their approaches to taxes, spending, and tariffs, emphasizing Harris's comprehensive plan versus Trump's less organized strategies. Wessel highlights the implications of their proposals for American consumers and the housing market, including Harris's initiative for first-time homebuyers. He also reflects on how COVID-19 has influenced economic strategies under both administrations.
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Judging Presidential Economic Performance
- Evaluating presidents solely on economic numbers is misleading, especially given unforeseen events like COVID-19.
- Focus on how presidents handle challenges rather than just outcomes.
Inflation in Context
- Inflation wasn't the worst in history, peaking around 9% mid-2022 after being below the Fed's 2% target.
- The early 1980s saw double-digit inflation, leading to harsh measures.
Drivers of Inflation
- Supply shocks, like factory closures and lifestyle changes, drove initial inflation.
- Fiscal stimulus under both Trump and Biden further fueled demand and inflation.