He says if Trump continues deporting immigrants at the current rate, inflation will go from 2.5% to somewhere close to 4% “by the time it hits its peak early next year.”
Zandi says his stark prediction is based on recent inflation data. “Foreign-born labor force is declining, and the overall labor force has gone flat since the beginning of the year,” he added. “That’s causing tightening in a lot of markets, adding to costs and inflation.”
It feels like everything is 25-50% more expensive this year. 4% inflation is rookie numbers.
What’s really fun is the consumer price index which measures inflation is published by the Bureau of Labor Statistics. The same Bureau that the turnip just fired the head of because he didn’t like their numbers.