U.S. Treasury Secretary Warns Trump's Economic Policies Will Increase Inflation, Undermine Businesses

In a speech on Thursday, Oct. 17, U.S. Treasury Secretary Yellen is scheduled to warn that Trump's proposed economic policies will exacerbate inflation and undermine businesses, raising concerns about the risk of sweeping tariffs. Trump and Harris have offered very different perspectives on how to view the U.S. role in the global economy. While Yellen is not expected to mention Trump by name, she will argue that broad tariffs supported by the former president and some Republicans in Congress would hurt the U.S. economy. In her speech, Yellen plans to talk about how “calls to isolate the United States by imposing high tariffs on friends and competitors, or by treating even our closest allies as trading partners, are seriously misguided. Across-the-board, untargeted tariffs will raise prices and reduce the competitiveness of American businesses.