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Moody's Talks - Inside Economics
Harris on Harris vs. Trump
Oct 18, 2024
Ben Harris, Director of Economic Studies at Brookings and former economic advisor, discusses the contentious 2024 election landscape. He evaluates the economic policies of Vice President Harris and former President Trump, illustrating how their differing agendas could shape future governance. Harris highlights inflation trends, the impact of price gouging proposals, and the complexities of capital gains taxation. The conversation also delves into the significance of renewable energy amid geopolitical tensions and the importance of addressing housing supply challenges for first-time buyers.
01:16:55
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Quick takeaways
- The U.S. economy appears to be stabilizing with low inflation and strong investment, suggesting a soft landing amidst ongoing geopolitical tensions.
- The upcoming presidential election may result in significantly different economic policies depending on whether Kamala Harris or Donald Trump is elected.
Deep dives
Overview of Current Economic Conditions
The current state of the U.S. economy is characterized as a soft landing, with positive indicators across multiple metrics. Inflation, which had been a concern, has largely been tamed, with expectations that consumer expenditure deflators will remain around the Fed's 2% target. Investment levels have remained strong, contrary to typical trends at this stage of the business cycle, indicating robust economic growth. Additionally, the wealth boom driven by rising housing prices and a strong stock market is highlighted as a significant factor contributing to the overall economic health.
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