Former JPMorgan Chase chief economist Anthony Chan reacts to Kamala Harris saying it will be her ‘Day One priority’ to bring down prices despite already being in office on ‘Varney & Co.’
A critical concern among economists is that President-elect Donald Trump’s proposed blanket tariffs on imports would drive up food prices.
Trump campaigned on the promise to lower costs for households as expenses have surged across the economy. Groceries were no exception, with prices rising due to a combination of economic factors, including geopolitical tensions, weather events, supply chain disruptions and inflation.
While the pace of inflation has eased, rising 2.6% in October, grocery costs are between 20% to 25% higher than they were four years ago.
WALMART WARNS OF HIGHER PRICES IF TRUMP IMPLEMENTS PROPOSED TARIFFS
The proposed 10%-20% tariff on imports from all foreign countries along…
