Yale Law Professor: ‘We Have the Most Inflationary Policies of Our Lifetimes’

EXCERPT:

SARIN: "You know, we have known for quite some time that we have been with a labor market that is weakening. It‘s true that we saw a downward revision of about 900,000 jobs today, but what we also know is approximately this time last year, we had a downward revision of about 800,000 jobs. And so what we know is that the labor market has been cooling for quite some time. The thing that‘s important to understand here is, you know, I understand there‘s an impulse to be thinking about is this President Biden, is this President Trump, how do we think about the economy going forward? Only one of those two people is president at the moment, and that‘s President Trump. And looking at this economic data, it is hard to argue why, in a world with a labor market that is clearly weakening, what makes sense to do is to pursue an economic policy agenda that means that we have the most inflationary policies of our lifetimes, that we have a labor market that‘s going to have 500,000 fewer jobs as a result of these tariffs. It‘s just hard for me to look at this data and make that type of an economic argument."