ilmscore | Trump Wants to Abolish Income Tax? Here’s Why The Fed Is Concerned

Trump Wants to Abolish Income Tax? Here’s Why The Fed Is Concerned

Published: 2025-01-30
Status: Available | Analyzed

Predictions from this Video

Total: 13
Correct: 0
Incorrect: 0
Pending: 13
Unrated: 0
Prediction
Topic
Status
Jerome Powell expects inflation to remain a problem in 2025.
"he expects it to continue being a problem in 20125"
Inflation
Pending
Jerome Powell is not cutting interest rates currently due to inflation concerns.
"because of that he's not cutting interest rates right now"
Interest Rates
Pending
The Federal Reserve Bank's 2% inflation goal will be maintained and not be reconsidered.
"the Committees meaning the Federal Reserve Banks 2% inflation goal will be retained and will not be a focus for review"
Inflation Target
Pending
In 2024, regular inflation was 2.6%, and core inflation was 2.8%.
"in 2024 regular inflation came in at 2.6% and core inflation which is when you strip out what he calls the volatile numbers energy and food then inflation came in at 2.8% in 2024"
Inflation in 2024
Pending
US GDP grew by more than 2% in 2024.
"our economy is growing in 2024 our GDP in the United States grew by more than 2%"
Economic Growth
Pending
Significant cuts to interest rates are not expected in the near future.
"we have a long way to go before we can really start cutting interest rates aggressively"
Interest Rates
Pending
The impact of tariffs on inflation, duration, extent, affected countries, retaliation, and consumer transmission is uncertain.
"the range of possibilities is very very wide we don't know for how long or how much or what countries we don't know about retaliation we don't know how it's going to transmit through the economy to Consumers that really does remain to be seen"
Tariffs and Inflation
Pending
There is debate on whether tariffs will worsen inflation.
"because a lot of people are worried that tariffs could potentially make inflation worse no not everybody some people believe that tariffs are not going to touch inflation some people are scared that tariffs are going to make the inflation problem worse"
Tariffs and Interest Rates
Pending
Tariffs on goods from China or other countries could increase prices by 10-40%.
"if you enact these tariffs on goods from China or other places well then the prices of things could go up by 10 20 30 40% depending on what the Tariff is"
Tariffs and Prices
Pending
The impact of tariffs on prices is variable; they can cause prices to rise or not.
"sometimes they can cause the prices of things to go up sometimes they don't"
Tariffs and Prices
Pending
If prices increase due to tariffs, it could worsen inflation.
"if the prices of things do go up yes that can make inflation worse"
Tariffs and Inflation
Pending
Worsening inflation due to tariffs might lead the Federal Reserve to not cut interest rates aggressively.
"and that means that the Federal Reserve Bank might not be cutting interest rates aggressively"
Interest Rates
Pending
Tariffs are expected to be enacted by Trump within the next 100 days.
"Trump has talked about enacting tariffs in the next 100 days or something like that"
Tariffs
Pending