Former Acting ICE Director Tom Homan and Key Square Capital Management CEO Scott Bessent spoke about President-elect Trump's plans to tackle immigration and the economy.
mass deportation Minneapolis Fed President Neel Kashkari said Sunday that an increase in the number of illegal immigrants working in the U.S. could disrupt the labor supply for some companies, but it remains to be seen what effect it would have on inflation and the economy as a whole. He said it was unclear.
Kashkari appeared on CBS's “Face the Nation” and outlined his views on the impact. President-elect Trump's A campaign promise to deport illegal immigrants.
“Just assuming people are working on farms or working in factories, if those businesses lose employees, there's probably going to be some disruption,” Kashkari said.
“The implications are not entirely clear to me,” he explained. “Ultimately, it will be up to the business community, Congress and the executive branch to decide how to coordinate.”
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Minneapolis Fed President Neel Kashkari said President Trump's mass deportation plan could disrupt labor at some companies. (Photographer: Victor J. Blue/Bloomberg via Getty Images / Getty Images)
His comments follow wall street journal President Trump's plan to carry out the largest mass deportation in U.S. history could cost $88 billion a year, or $968 billion over 10 years, according to a liberal immigration group known as the American Immigration Council. was reported on Friday.
President Trump told NBC News last week that his immigration plan was “not about price” and that “when people are killing and being killed and drug lords are destroying a country, a country doesn't have a choice.” . And now they're going back to those countries because they don't want to stay here. ”
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President-elect Donald Trump campaigned on the promise of carrying out the largest mass deportation in U.S. history. (Michael Ciaglo/Getty Images/Getty Images)
Scott Bessent, CEO of Key Square Capital Management, is a key advisor on economic policy to President Trump, is considered a possible candidate for Treasury secretary, and has been featured on Fox Business Network's FOX Business Network. I echoed these comments on the show.Sunday morning futuresHe said maintaining the status quo would be more costly than President Trump's mass deportations.
“Let's talk about the human cost: 100,000 people a year die from fentanyl because of our porous borders. Crime is up. There's a fundamental fear that Americans have. And You can't put a price on it,” Bessent said. Said.
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Illegal immigrants arrested by the Border Patrol will be sent to detention facilities before being deported to California in June 2024. (Katie McTiernan/Anadolu via Getty Images/Getty Images)
Kashkari also discussed President Trump's plans to impose far-reaching policies. Customs duties on imported goods He explained that the impact of these policies on inflation depends on how they are implemented.
He said customs duties (taxes imposed on imported goods entering the country) may cause temporary price increases, but would not have a significant impact on products. long term inflation.
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However, Kashkari explained, “The question is whether there will be retaliatory measures.'' “If a country imposes tariffs and then responds and it escalates…what will be done?'' We'll have to keep an eye on it,” he said. And how other countries will react is something we can all only guess at now.”
FOX Business' Taylor Penley and Reuters contributed to this report.
