Chicago Booth Review Podcast
Trumponomics: Could Trump’s dealmaking damage the economy?
Feb 12, 2025
Join Randy Kroszner, former member of the President's Council of Economic Advisers and the Board of Governors of the Federal Reserve, as he dives into Trump’s unique economic strategies. They discuss his use of tariffs as negotiation tools and the unpredictability of policy changes. Kroszner examines the implications of government shutdowns on economic stability and reflects on the challenges posed by a strong dollar. The conversation also touches on deregulation and its role in enhancing U.S. competitiveness amidst a complex economic landscape.
34:08
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Quick takeaways
- The Trump administration's use of tariffs as a negotiation tool risks sparking prolonged trade conflicts that could harm the economy.
- Efforts to streamline regulations may lead to meaningful economic impacts, particularly in financial sectors, though skepticism about their efficacy persists.
Deep dives
Impact of Government Actions on Efficiency
The discussion highlights the complex interplay between government inefficiency and proposed reforms within specific agencies. There is a targeted approach where agencies are scrutinized, leading to abrupt shutdown threats, yet these often result in pushback due to essential functions. For instance, while Rubio, in his role at USAID, considered stopping certain operations, he ultimately opted to halt only select functions instead of a complete closure. This showcases a method where dramatic moves are made first, followed by adjustments based on feedback and necessities, reflecting both the chaotic nature and the substantive goals of the current government administration.
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