Study shows a Trump economy would be even more ruinous than you’d imagine

President Joe Biden’s plans for the economy are much better than those of Donald Trump, according to a new study from Moody's Analytics. 

If Trump wins and can implement his plans, including extending his tax cuts for millionaires and tariffs on imported goods, Moody’s expects America to tumble into a recession in 2025. Long term, Trump’s announced economic plans would depress economic growth and drive up prices.

Everything would be made worse under a “Republican sweep scenario” where Republicans capture Congress as well as the White House and enable Trump’s other plans, such as a mass deportation of immigrants. Under that scenario, Moody’s sees not just a prolonged slowdown in the economy, but a sharp increase in inflation and interest rates.

On the other hand, if Biden wins, inflation is expected to drop below 2% while the economy continues steady growth.