Alexander Field : Growth & Stagflation Under Trump : Marketplace
Alex Field, Michel and Mary Orradre Professor of Economics, recently appeared on Marketplace in a segment that speculated about the future of the U.S. economy under a President Donald Trump. It looked at the potential for growth from increased infrastructure and defense spending, but also warned of the potential for high “stagflation.”
An excerpt from the segment:
“[Alexander Field] says higher oil prices mean higher prices elsewhere in the economy,” says Marketplace’s Gigi Douban.
“It also means the productive capability of the United States was reduced by what OPEC did in the 70’s,” says Professor Field in the segment, “because the terms of trade went against us we could get a lot less oil for the same quantity of our exports.”
“All that led to a little something called stagflation: higher inflation and higher unemployment with little growth,” says Douban.
Listen to the full segment here»
Learn more about Professor Alex Field here»