Donald Trump may "reignite" inflation, Nobel Prize-winning economists warn

A coalition of 16 economists warned that Trump may "reignite" inflation if he wins the presidential election.

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A coalition of Nobel Prize-winning economists has warned about inflation if former President Donald Trump wins the presidential election.

President Joe Biden and Trump are set to face off in the November election, and inflation remains a key issue in the race.

However, 16 Nobel Prize-winning economists penned a letter, first obtained by Axios, warning about the possibility of higher inflation if Trump returns to the White House next year.

There is rightly a worry that Donald Trump will reignite this inflation, with his fiscally irresponsible budgets," the letter reads, according to the report.

Still, the economists warned that they believe a second Trump term would "have a negative impact on the U.S.'s economic standing in the world, and a destabilizing effect on the U.S.'s domestic economy," according to Axios.

More than four months out from Election Day, the presidential race remains tight, with polls showing both candidates having a chance of victory in November.

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