Trump Defends Tariff Plan While Pressing for More Fed Influence

Republican presidential candidate Donald Trump defended his plans to overhaul the US economy through dramatic tariff increases and more direct consultation with the Federal Reserve, arguing that his policies would result in substantial growth despite projections that his agenda would fuel inflation and spike the national debt.

“It’s going to have a massive effect, positive effect,” Trump told Bloomberg News Editor-in-Chief John Micklethwait on Tuesday in an interview at the Economic Club of Chicago.

Throughout the hour-long exchange, Trump repeatedly dismissed predictions by economists that his policies would have a net-negative impact on the economy and pass costs ...