Former President Donald Trump has warned that the nation could enter an economic depression due to the fiscal policies of President Joe Biden.
Trump made the remark during a “Save America” rally in Prescott Valley, Arizona, on Friday night. The former president said that the country’s highest inflation rate in decades could lead to a state of 1970s-style “stagflation”—a portmanteau of the words “stagnation” and “inflation” and an economic state defined by simultaneous high inflation, high unemployment and a recession. He then suggested that the economy could enter a depression akin to the worldwide Great Depression of 1929 to 1939.
Read more at Newsweek.com