Source: Cato Institute
by Scott Lincicome
“One of this year’s more annoying yet persistent tariff defenses — including from a certain Oval Office Tariff Man and his trusty VP sidekick — is that tariffs can’t possibly be bad for American consumers or the U.S. economy because they haven’t caused ‘inflation.’ In fact, a string of moderate 2025 reports from the two most common U.S. inflation gauges — the consumer price index (CPI) and the personal consumption expenditures price index (PCE) — have elicited victory laps from tariff defenders …. So, has Trump proven the ‘experts’ and ‘economists’ wrong once again? In short, no.” (07/17/25)
https://www.cato.org/commentary/great-tariff-inflation-confusion