Part 4/13:
One of the most contentious points in recent economic debates concerns Trump's tariffs, which critics claimed would cause devastating price hikes. Yet, data and expert testimonies tell a different story. Economists across political spectrums, including supply-side veterans like Art Laugher, confirm that tariffs have had almost no impact on domestic prices.
Scott Bessant, Treasury Secretary, openly admitted that early predictions of significant tariff-induced inflation were incorrect, and recent statements underscore that tariffs haven't caused the expected surge in consumer prices. The supposed "tariff-based inflation" that justified high-interest rates appears to be a myth—one that many mainstream outlets still cling to, despite clear evidence to the contrary.