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Heres whatfinancial experts have to say about what to expect under Trumps administration.
Arron Bennett, founder and CEO atBennett Financials, outlines the key policies that consumers should keep in mind.
Key Trump policies that could influence inflation include his tax policies and trade strategies.
If more people havediscretionary spending power, the broader economy could stabilize, potentially hedging against inflation.
Bennett also suggests keeping an eye on tariffs.
However, tariffs play a dual role.
Bennett views the new program as a hedge against inflation.
Financial experts, like Ben Johnston, agree that Trumps policies will increase inflation in the short run.
Johnston mentioned how higher tariffs can elevate the costs ofgoods and services, especially products made in China.
Tariffs arent exactly new, especially in the context of protecting American companies.
The Biden Administration increased the tariff rate on Chinese EVs from 25% to 100% earlier this year.
Tariffs on a wider scale should boost inflation, but when done correctly, they can have long-term benefits.
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