How Long Will Biden-Flation Last?
Tony Katz is joined by Dr. Matt Will, economist at the University of Indianapolis to talk about the latest in the job reports effected by tariffs and how much longer Biden inflation will last.
It’s at this moment I grabbed my bourbon, ladies and gentlemen, because nothing makes sense. I cannot tell you if this is an economy that’s cooling down and we’ll see a lowering of inflation. This is a comedy that’s still red hot because the money from the Biden administration is still in the system. And then we gotta ask ourselves, do tariffs actually engage inflation in a certain way or is it something completely and totally different? … What say you, economist Dr. Maxwell?
We’re actually in a state of transition. And here’s why it’s confusing. It’s all an estimate. Keep in mind, everything the government sends us initially is an estimate that they later revised when they actually do a physical. Now, which is why the revision is down 125,000. So, ADP’s one number, they’re kind of I would think a little bit more accurate. The governments estimating and now the government’s estimating based on a total disruption of the flow. We have government workers being laid off, we’ve got private industry expanding, we see manufacturing growing so. These estimates are totally worthless… I’m saying we don’t pay attention to it now… (Trump) He’s totally disrupting the marketplace. So, I would say the numbers were more reliable in the past. We’ve looked at them in the past and I think that’s OK. But right now, come on, DOGE is laying off government workers left and right. Manufacturing is back. We see a growth in manufacturing. In in the ADP numbers and the durable goods numbers here. So, it’s just a temporary thing that we have to ignore. But I’m telling you, it’s in a transition.
Talking to Doctor Matt Well, economists at the University of Indianapolis, The, the, the, the question before us is. Where do we think this economy is? Is this economy still dealing with inflation because of Joe Biden spending? Or is this economy having issues due to the tariffs of President Trump on again, off again in all these places?
Yes, and yes, we’re still dealing with Biden inflation. I’ve said it before, and I’ll keep saying it. It’s going to take us a solid 18 months. I think we’re two months into the process, but we will continue to see Biden inflation. We can’t turn this this ship on a dime.
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