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Economist Lawrence Summers has warned that former President Donald Trump's policies could lead to a significant increase in mortgage rates. As Trump gears up to potentially face off against President Joe Biden in the upcoming election, the focus has shifted to the economic policies of both candidates. While public perception of Biden's economic policy is low, with only 33 percent of Americans approving of his handling of the economy, his supporters have celebrated the low unemployment rates under his administration. On the other hand, Biden's critics complain of high inflation. Summers has expressed concerns that Trump's economic agenda could lead to stagflation, a term used to describe slow growth and high unemployment mixed with inflation. With both candidates' economic policies under scrutiny, the stage is set for a heated debate on the economy in the upcoming election.
