Economists: Why a Trump Presidency Could Lead to "Hyperinflation"
According to a recent ABC/Ipsos poll, voters currently see the economy and inflation as the most important issues. The economy is usually top-of-mind in most elections, but having been through the roller coaster of the COVID-19 pandemic and its aftermath, it's especially prominent this election cycle.
The United States' recovery from the pandemic has actually been far better than all other G7 countries, with U.S. gross domestic product (GDP) growth the best of the bunch while having the third-lowest unemployment rate and a stock market that just hit an all-time high. And yet, despite this good growth and jobs picture, only 23% of Americans rate the economy as "excellent" or "good," with 36% believing it's "poor" and 41% saying it's only "fair," according to the Pew Research Center.
Political bias undoubtedly plays a part in these surveys, but the seeming disconnect can also partly be explained by inflation and interest rates. While inflation is now far below its June 2022 peak of 9.1%, the current 3.4% rate is still a bit higher than Americans have experienced since before the 2008 financial crisis.
Source Fool.com
