US EditionThe National Observer: Tariffs' Inflation Effect May Be Less than Initially Expected
UNITED STATES, JUL 8 – White House economic advisor cites falling imported goods prices and tariff delays as reasons tariffs are unlikely to drive significant inflation, according to a recent council report.
- Stephen Miran, who leads the Council of Economic Advisers under President Trump, told CNBC that there is currently no indication that tariffs have caused prices to rise.
- This statement followed President Trump's announcement of tariffs on nearly every country in April and delays in implementing some of the most severe tariffs.
- A White House report examining key inflation measures, including the PCE—which tracks consumer spending—and the Consumer Price Index, found that prices for imported goods have decreased since December, while overall goods prices have largely remained stable.
- Mirroring this, Miran likened the odds that tariffs would cause higher prices to a meteorite striking Earth and noted, “there’s just no evidence thus far of it happening.”
- Despite some price increases for individual goods, these findings suggest tariffs have not driven broad inflation yet, though some economists expect prices to rise in coming months.
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Tariffs more likely to produce slowdown than inflation
By Phillip S. Coles For MediaNews Group Numerous economists and politicians continue to be astonished by mild inflation data. The May Consumer Price Index report indicated inflation was less than expected, with “limited effects from tariffs” and “defies tariff fears.” On June 23 Federal Reserve Vice Chair for Supervision Michelle Bowman said she was open to reducing interest rates because she said in part that “inflationary impact of President D…
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Total News Sources12
Leaning Left2Leaning Right2Center4Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 25%
C 50%
R 25%
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