former US Treasury Secretary Summers said that if President-elect Trump really fulfills his promises, the United States will once again experience a severe inflation crisis. Summers pointed out that Trump's promised domestic tax cuts, increased tariffs, and expulsion of illegal immigrants will seriously impact the US economy. "If he insists on implementing the plans he promised during the campaign, then this country will suffer a greater inflation crisis than in 2021."
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Former U.S. Treasury Secretary warns: If Trump fulfills his promise, it will trigger an "inflation crisis" not seen in decades
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