Stubbornly high inflation is expected to rise further under both Trump and Biden, driven by respective policies according to Oxford Economics. Trump's draconian immigration policies, corporate tax cuts, and tariffs would lead to a peak inflation at 3.8%, whereas Biden's temporary Child Tax Credit extension may cause a short-term spike followed by stable growth.
The degree to which GDP and inflation increase under the next president varies based on political configurations, with Trump's policies projected to result in a 0.6 percentage point higher inflation peak compared to Biden's 0.1%. Family support policies under Biden stimulate growth without raising inflation in the long run, says Oxford Economics.
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