Part 5/9:
A significant part of the discussion revolved around tariffs. One viewpoint postulated that while tariffs can lead to increased prices in the short run, they do not inherently cause inflation. Instead, by raising government revenue, tariffs could potentially contribute to a deflationary climate. The speakers debated whether consumers or suppliers would absorb the cost implications of tariffs, concluding that the reality often lies in a mix of both impacts rather than a clear-cut transfer of costs.