Sixteen Nobel Prize-winning economists say Trump policies will fuel inflation

Sixteen Nobel prize-winning economists signed a letter on Tuesday warning that the U.S. and world economy will suffer if Republican presidential candidate Donald Trump wins the U.S. presidential election in November. The jointly signed letter, first reported by Axios, says the economic agenda of U.S. President Joe Biden, a Democrat, is "vastly superior" to Trump's, the former Republican president seeking a second term. The economists say Trump's economic plans would reignite inflation, in part because of his pledge to impose stiffer tariffs on Chinese imports, which they say will hike prices on many goods bought by U.S. consumers. "While each…