Trump’s feud with Harvard has contributed to a ‘wealth spiral effect’ that could spook wealthy Boston residents into spending less, policy expert says

Protesters holding a sign walk across Harvard Yard. (Credit: JOSEPH PREZIOSO/AFP—Getty Images)

• Higher education has historically helped stabilize economies in times of financial uncertainty, but President Donald Trump’s threats to freeze funding and Harvard University’s tax-exempt status shakes this model, according to Evan Horowitz, executive director of Tufts University’s Center for State Policy Analysis. Horowitz told Fortune the possibility of cuts is contributing to fears of economic instability in the Boston area.

President Donald Trump’s feud with Harvard University has some local experts fearing for not only the financial health of the university, but of the broader Boston community.