Fed Nominee Milan Says Tariffs Don’t Drive Inflation

Milan links 1970s inflation to Federal Reserve policy errors and supply shocks, while suggesting border controls may exert a deflationary influence.

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Terms & Concepts
  • Inflation: The rate at which the general level of prices for goods and services rises, eroding purchasing power.
  • Deflationary Effect: An economic impact that leads to a general decline in prices, often due to reduced demand or increased supply efficiency.
  • Supply Shock: A sudden and unexpected change in the supply of goods or services, which can lead to rapid changes in prices.