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However, those numbers dont mean consumers think that grocery, gas, and daily essentials are more affordable.
GOBanking Rates spoke to economists about four reasons Americans should trust Trump tobring down inflation.
This will increase the number of goods and services and help costs become more affordable.
Specifically, Trump said deregulating the energy and manufacturing sectors was essential to boosting economic growth and creating jobs.
Trump also promised to end current environmental regulations on businesses, which he said hindered operations and economic competitiveness.
However, deregulation has hidden costs for consumers.
It might also lead to higher health costs related to environmental deregulation and clean-up.
Trump said he wouldmake the tax cuts permanentif re-elected.
In addition, there would be fewer dividends available for stockholders.
Other economists say Trumps tariffs could contribute to inflation by making imported goods more expensive.
Lower energy prices by making more oil and gas could reduce costs for consumers and businesses.
Lower transportation and manufacturing costs could reduce inflationary pressures and lower consumer prices.
We can look to the successes from thelast Trump Administration, Griffith said.
It signals to the markets that were friendly to expanding affordable fuel supplies.
Griffith explained, We often take affordable energy for granted.
If you look at California, their gas prices are often triple the cost.
Crude oil production in the United States is at record-breaking levels.
Nevertheless, lowering the interest rates is likewalking a tightrope.
If the economy is already rapidly growing, demand could outstrip supply, leading to inflation.
We (the federal government) are spending so far beyond our means, Griffith said.
Raising the interests rates is done to contain the damage.
The Federal Reserve has to increase rates to diminish the demand to stop dollars from multiplying.
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