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Steep inflation has haunted Americans as our number one bogeyman over the last two and a half years.Check Out: I’m an Economist: Here’s My Prediction for Social Security If Trump Wins the 2024 ElectionRead Next: 9 Things You Must Do To Grow Your Wealth in 2024“We’ve experienced high inflation over the last three years because of how much money we flooded into our financial system as a response to the COVID-19 pandemic,” explains CFP and MBA Scott Sturgeon of Oread Wealth. “These include stimulus checks, PPP loans, quantitative easing and other pandemic-era policies that lingered too long. The more dollars there are pursuing the same goods and services, the more those goods and services will increase in price as a response.”Trump’s proposed policies prove a mixed bag for their impact on inflation. Some would likely reduce it, while others would exacerbate it. Consider the push and pull of each as you prognosticate future inflation rates.Earning passive income doesn’t need to be difficult. You can start this week.Deflationary Policies Under TrumpSara Routhier, finance expert with FreeAdvice.com, sees a slow road ahead. “If Trump wins, it will most likely take two to three years to recover from the inflation we have seen over the last few years. If Harris wins the election, there is a good chance that inflation will continue to rise.”Learn More: Trump Wants To Eliminate Income Taxes: How Would That Impact You If You Are Retired?So which of Trump’s policies will help reduce inflation?Slower Immigration“Trump’s tighter immigration policies should help reduce inflation,” observes Routhier. “The government would spend less on undocumented immigrants’ housing, medical expenses, and other assimilation costs.”Reduced government spending isn’t the only reason why slower immigration would also slow inflation. Immigration fuels population growth, which in turn fuels economic growth through higher demand for goods and services. Inflation goes hand in hand with hot economic growth, so reducing population growth and consumer demand should tamp down on inflation.Greater Domestic Energy ProductionAt rally after rally, Trump has promised to “drill baby drill” to increase domestic oil and gas production. Greater energy supply drives down energy prices, helping to reduce inflation.Melanie Musson, a finance expert with Clearsura …
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