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But is this possible?
Can a second term in office enable Trump to truly make America affordable again?
GOBankingRates reached out to someexperts to see what they think.
Inflation Has Stabilized but Can It Drop Further?
Inflation levels rose to historical highs during the COVID-19 pandemic, but theyve settled since then.
For the 12 months ending in June 2024, theannual inflation rateis 3.0%.
This is 0.3% lower than it was previously.
Deregulation Could Lower Costs
Another way Trump has promised to combat inflation is via deregulation.
Jacobs added that deregulation could theoretically save businesses more money as well.
In turn, this could lower production and operating costs, putting more money in business owners pockets.
In theory, lower operating costs could even lead to higher wages.
Like tax cuts, certain deregulatory policies could increase spending power and lead to economic growth.
This is something that could help both consumers and businesses.
However, any such effects are likely to take time.
Only time will tell what actually happens and how affordable Trump or anyone else can make the country.
dollaras the worlds reserve currency.
Expanding energy production could lead to lower energy costs, which trickles down to lower prices forgoods and services.
This, in turn, could potentially lower the CPI.
Throughmore fair trade agreements, prices may stabilize and domestic industries could be better supported.
But as Rawal pointed out, theres always a possible downside to consider.
Tariffs often raise consumer costs and provoke retaliation from trading partners, Rawal said.
Policies may temporarily boost sectors but rarely override market forces long-term.
In regard to trade policies, Rawal noted that they can impact industries unevenly.
While some areas might gain, others could struggle.
The overall impacts are complex, Rawal said.
Ive seenboth short-term gainsand unforeseen consequences from policy changes.
This could lead tosome major economic gains, though the full effect on individuals is yet unknown.
Its possible, however, that the creation of more jobs could boost the average consumers disposable income.
10-year yieldto stay above 4%.
This could control inflation to a point, but it would still likely affect economic growth initially.
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