New York, June 26, 2024 — Sixteen Nobel Prize-winning economists have issued a stark warning that the re-election of former US President Donald Trump could lead to significant economic instability. This information was reported by Qatar-based media outlet Al Jazeera on Tuesday.

In a letter published on Tuesday, the economists expressed concerns that if Republican candidate Donald Trump is re-elected, he could introduce an irresponsible budget, leading to instability in US markets and potentially causing high inflation.

"Economic and political stability are among the most important determinants of any country's economic success. It is quite difficult for a country like the USA to maintain stability in these two important areas because the good relations of the United States with other countries depend on compliance with international rules," the economists stated in their letter.

The economists cited past instances where the ambiguity of Donald Trump's policies and those of his administration threatened this stability. Conversely, they praised the Biden administration for its significant contributions to the labor market following the Covid-19 pandemic.

"Although we all have different views on economic policy," the economists noted, "we all agree that Joe Biden's economic agenda is far more realistic than Donald Trump's."

This letter from such a distinguished group of economists highlights the potential risks and uncertainties that could arise from a Trump re-election, emphasizing the importance of stable and responsible economic policies for the future of the United States.