What's happened
Billionaire Ken Griffin advises President-elect Donald Trump to adopt moderate immigration and tax policies. Griffin warns that aggressive tactics could harm the economy, emphasizing the importance of immigrants in the workforce. He also suggests Apollo CEO Marc Rowan for Treasury Secretary, highlighting the need for fiscal responsibility amidst rising national debt.
Why it matters
What the papers say
In a recent address, Ken Griffin emphasized the need for moderation in Trump's immigration and tax policies, stating, "It's not feasible for us to deport every person who is not an American citizen and expect the economy to work the next day" (Business Insider UK). Conversely, Paul Krugman in the New York Times expresses skepticism about Trump's ability to temper his policies, suggesting that his historical focus on tariffs and immigration could lead to significant economic damage. Krugman warns that mass deportations could create labor shortages and undermine American technological leadership, stating, "Hostility to immigrants won’t just create labor shortages... it will also undermine American leadership in technology". This contrast highlights the differing perspectives on the potential impacts of Trump's policies on the economy and immigration.
How we got here
Ken Griffin, founder of Citadel, has been vocal about the economic implications of Trump's proposed policies on immigration and taxation. His recent comments come as Trump prepares to take office, raising concerns among business leaders about potential economic fallout.
Common question
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More on these topics
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Donald John Trump is an American politician, media personality, and businessman who served as the 45th president of the United States from 2017 to 2021.
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Ken Griffin (1914–1988) was a Western cowboy, leather worker, magician, and author. As a leatherworker, Griffin helped transition leathercraft from strictly a vocation to an accessible hobby through his work and teaching. As a magician, Griffin and his.