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Trump's Economic Strategy Faces Tariff-Triggered Stagflation Warnings

12/7/2025

Summary

Story summary

U.S. President Donald Trump relies on Treasury Secretary Scott Bessent to shape economic policy ahead of the midterms to address the affordability crisis.
Bessent aims to stimulate growth while managing tariffs raising consumer prices, per Bank of America.
Economists warn tariffs could trigger stagflation and harm lower-income households.
Kevin Hassett remains a leading candidate to replace Federal Reserve Chair Jerome Powell amid calls for quicker rate cuts.

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Story summary

U.S. President Donald Trump relies on Treasury Secretary Scott Bessent to shape economic policy ahead of the midterms to address the affordability crisis.
Bessent aims to stimulate growth while managing tariffs raising consumer prices, per Bank of America.
Economists warn tariffs could trigger stagflation and harm lower-income households.
Kevin Hassett remains a leading candidate to replace Federal Reserve Chair Jerome Powell amid calls for quicker rate cuts.