More than 400 American economists and former White House policy advisors issued an open letter declaring their support for He Jinli.

date
25/09/2024
avatar
GMT Eight
More than 400 economists and former White House policy advisors announced their support for Vice President Harris over former President Donald Trump in a public letter released on Tuesday. The letter stated: "The choice in this election is clear: either the inequality, economic injustice, and uncertainty brought by Trump, or the prosperity, opportunity, and stability brought by Harris." Most of the 405 signatories are progressive economists, many of whom have served in Democratic administrations. These economists include Harvard economist Jason Furman, who served as chairman of the Council of Economic Advisers in the Obama administration; Evercore founder Roger Altman, who served as Deputy Secretary of the Treasury in the Clinton administration; Penny Pritzker, former Secretary of Commerce under Obama; and former Vice Chairman of the Federal Reserve, Alan Blinder. The signatories also include former officials who have worked in regulatory agencies such as the Federal Trade Commission and the Consumer Financial Protection Bureau. Some signatories, such as former National Economic Council Chair Brian Deese from the Biden administration, have provided advice behind the scenes for Harris's campaign. A few signatories have also worked in Republican administrations. Sean OKeefe served as Deputy Director of the Office of Management and Budget under President George W. Bush. Phillip Braun was a member of President Reagan's Council of Economic Advisers. This letter may provide a strong argument for Harris as she is set to announce new policy proposals in an economic-themed speech on Wednesday. Some signatories, like Furman, have previously criticized some of Harris's policies. For example, he opposed Harris's proposal to implement a federal "price deception" ban in the food and drug industries. In an interview in August, Furman stated, "Do I like her proposal on price deception? No, I don't." Nevertheless, he has still joined the ranks of economists opposing many of Trump's economic policies. Trump's policies include imposing tough tariffs on all imported goods, significantly cutting corporate taxes, and giving the president a say in Federal Reserve interest rate decisions. Before Biden decided to withdraw from the race and support Harris, many progressive and center-left economists had already expressed opposition to Trump's plans. For example, 16 Nobel laureates in economics publicly supported Biden on June 25, and two days later, Biden announced withdrawal from the re-election race in a crucial debate, ultimately supporting Harris's campaign.

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