Tyler Schipper, an economist and associate professor in the College of Arts and Sciences at the University of St. Thomas, was interviewed for three different CNN articles, discussing the rise in consumer prices and the implications of President Trump’s actions on the economy.
In one article he said, “No president is able to lower prices in a week, and some of the promises that were made about how quickly prices were going to come down were probably never achievable.”
For another CNN article, he said, “people will have trouble separating tariffs that didn’t even pan out, versus what were the underlying price dynamics of coffee even before the Trump administration.”
Further context is provided in the article titled “Trump pledged to bring down food prices on Day One. Instead, eggs are getting more expensive.”
Trump’s frequent price-dropping pledges have long been countered by economists who have noted that broad-based price declines not only would be outright dangerous for an economy by creating a deflationary “doom loop,” but, also, that they’d be improbable to achieve.
“No president is able to lower prices in a week, and some of the promises that were made about how quickly prices were going to come down were probably never achievable,” said Tyler Schipper, economist and associate professor at the University of St. Thomas, in St. Paul, Minnesota. “Some of the most stark things that people are still seeing at the grocery store are almost entirely due to price dynamics that were in place before.”
