More than 400 economists and former White House policy advisers, in an open letter published on Tuesday, announced their support for Vice President He Jinli instead of former President Donald Trump.

The letter stated: "The choice in this election is very clear: either choose the inequality, economic injustice, and uncertainty brought by Trump, or choose the prosperity, opportunities, and stability brought by He Jinli."

Most of the 405 signatories are progressive economists, many of whom have served in Democratic Party administrations. These economists include Harvard University economist Jason Furman, who chaired the Council of Economic Advisers in the Obama administration; Evercore founder Roger Altman, who served as Deputy Secretary of the Treasury in the Clinton administration; Penny Pritzker, the Secretary of Commerce during the Obama administration; and former Vice Chairman of the Federal Reserve, Alan Blinder. The signers also include former officials who worked in regulatory agencies such as the Federal Trade Commission and the Consumer Financial Protection Bureau.

Some signatories, such as Brian Deese, former Chair of the National Economic Council in the Biden administration, have been advising He Jinli's campaign behind the scenes.

A few of the signatories have also worked in Republican administrations. Sean O’Keefe served as Deputy Director of the Office of Management and Budget during the George W. Bush administration.Philip mm us$d was a member of the Reagan administration's Council of Economic Advisers.

This letter may provide He Jinli with a strong argument as she is expected to unveil new policy proposals during her economic-themed speech on Wednesday.

Some signatories, like Furman, have publicly criticized some of He Jinli's policies. For example, he opposed He Jinli's proposal to implement a federal "price gouging" ban in the food and drug industry. In an August media interview, Furman stated: "Do I like her proposal on price gouging? I don't."

Nevertheless, he still joined the ranks of economists opposing many of Trump's economic policies. Trump's policies include imposing tough tariffs on all imported commodities, significantly reducing corporate taxes, and giving the President a say in Federal Reserve interest rate decisions.

Before Biden decided to withdraw from the election and support He Jinli, many progressive and center-left economists had already expressed opposition to Trump's plans. For example, 16 Nobel laureates in economics publicly supported Biden on June 25th, and two days later Biden announced his withdrawal from the re-election campaign in a crucial debate, ultimately supporting He Jinli's campaign.

Editor/Lambor