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usa Secretary of the Treasury candidates fight fiercely, angering Trump! Former Federal Reserve Board Governor Wash may be the next Treasury Secretary.
Some analysts believe that Trump has a very good personal relationship with Wash and often seeks economic advice from the latter. Wash's wife is the heiress of the Estee Lauder cosmetic family, a social status that Trump values, and he once considered nominating Wash as a candidate for Federal Reserve Chairman in 2017. Wash's long-term goal is still to serve as the Federal Reserve Chairman.
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Stocks, bonds, and other assets are already expensive relative to historical levels. Trump's trade protectionism policy may lead to a resurgence of inflation and force the Federal Reserve to maintain interest rates at high levels for a longer period of time. In addition, the US economy is facing continuously expanding fiscal deficits and a labor market that is already showing signs of fatigue, which could put pressure on the economic growth outlook.
Summers, who criticized the last round of inflation in the usa, stated that Trump will trigger an "inflation crisis not seen in decades."
Summers warned that if Trump insists on fulfilling the promises made during his campaign, the usa will suffer a more severe inflation shock than in 2021. It is hoped that Trump can learn from this term and adjust his plans to avoid causing inflation.
