Oxford Economics estimates that Trump's policies will cause inflation to be about 0.3 percentage points higher than it would otherwise be by 2028. Harris' policies will cause inflation to be about 0.2 percentage points higher and house prices to be about 0.5 percentage points higher than they would otherwise be. If the Fed finds new inflationary pressures, it will likely reverse the rate cuts that Fed Chairman Powell essentially announced on August 23. Powell is now hinting at a gradual pace of rate cuts over the next few years. But he also made it clear that if inflation returns, the Fed may stop cutting rates or even start raising them again. (Jinshi)