 And here's what Axios says. 16 Nobel Prize winning economists are jumping into the presidential campaign with a stark warning. Former President Trump's plans would reignite inflation and cause lasting harm to the global economy if he wins in November. The Nobel laureates are sending their academic prestige to a political argument the Biden administration has been making for weeks. Inflation would be worse under Trump. Democrats have been attempting to play off the fact that Joe Biden has brought about 40 year highs in inflation. These economists claim.