More of the pros are expecting higher inflation in the new year. I'm David Brancaccio. A fresh poll of

academic economists finds more think interest rates will stay higher for longer, given the resilient

job market and some of the policies promised by President-elect Trump. That survey is out today

from the Financial Times and the University of Chicago Booth Business School.

Meanwhile, economist Julia Coronado's team at macro policy perspectives has been asking another

set of experts, similar questions.

Hi, Julia.

Good morning.

All right, so not academic economists.

Who did you ask?

We talked to about 100 market participants. So some of them

are market economists like myself. Some of them are investors, portfolio managers, risk takers. So a different

group. But they also expect fewer rate cuts next year, largely as a result of one, a resilient

economy, but also Trump policies towards tariffs and

restrictive immigration, both of which are potentially inflationary.

All right.

I mean, the argument is made that Trump tariffs last time around weren't necessarily

inflationary.

That's true.

Trump and tariffs last time they were inflationary on the goods that they were imposed upon,

but we were in a much more disinflationary environment.

Inflation was running low.

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