Council of Economic Advisers Chairman Stephen Miran dismisses the Stump Administration’s broad-based ‘Kudlow’ prices.
Stephen Miran Stephen Miran downplayed the economic impact of the President Donald Trump Sweeping trading methods, they say, have little evidence that new prices weigh on growth or inflation.
Miran, who was speaking at Semafor’s Summorm Summeni on Thursday, said there are “no real tangible signs of an increase in inflation, no real tangible signs of an inflation spike.”
It is stressed that consumers will end up paying more as companies go through higher costs, Miran maintained that such a situation is not possible.
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Stephen Miran Stephen Miran is expected to return to the White House after his term at the central bank ends in January. (Pete Kiehart/Bloomberg/Getty Images/Getty Images)
“As an importer, we are flexible because we can distribute our demand across borders – we can buy in a country where we have a better trade agreement, or we can do things at home,” said Miran at home.
“Manufacturers and their factories are stuck in place; factories don’t move well across national borders,” he explained, adding that “AfterMiffs’ results were not as bad as people predicted.”
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Miran’s comments put in particular the trade situation of the Trump Administration, which he currently left while serving on the board of governors. He is expected to return to his White House Economic Advocacy role after his time at the Fed ends in January.
Trump has previously defended his use of tariffs as a fix for what he called years of trade imbalances, saying on Oct. 7
President Donald Trump has said the tariffs are a national security issue. (Shawn thew/EPA/Bloomberg/Getty Images)
US businesses pay these import taxes directly to the Federal Government, but often businesses pass on the costs and raise prices, meaning consumers ultimately shoulder the burden of the tax.
Under the Trump Administration, the Federal Government collected the payment of successive registers in August and September, which totaled $62.6 billion.
Total Financial Activity for Fiscal Year 2025 reached $215.2 billion, according to “customs and certain additional values” figures released on September 30 by Money department.
Back-to-back: August and September brought in $62.6B in tax revenue
The latest revelation comes as Supreme Court It weighs heavily on Trump’s trade policy, a central piece of his economic agenda.
“We look forward to a major victory in this matter with the Supreme Court,” White House spokesman Kush Devai wrote.
President Donald Trump has said he is considering going to the Supreme Court in November to attend oral arguments. (Valerie Plesch / Photo Alliance / Getty Images / Getty)
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“We have a huge case coming up at the Supreme Court, and I’ll tell you, that’s one of the most important cases in the history of our country,” Trump said in the Oval Office on Wednesday.
“If we don’t win that case, we’re going to be a weak, worried, financial thing, for years to come.”
