by Ian Hanchett
Breitbart.com
During an interview with Bloomberg aired on Thursday’s “Balance of Power,” White House Council of Economic Advisers Chair Jared Bernstein acknowledged that there wasn’t an inflation spike caused by tariffs in the first Trump administration, but argued that things in 2025 are much different from where they were in 2017.
Bernstein said, “I want to give this incoming team the benefit of the doubt. I know some of these folks, they’re good economists, they don’t want to generate higher inflation or higher interest rates, but if you do look at the impact of, say, sweeping tariffs or deportations or fiscal stimulus through unnecessary high-end tax cuts, really also hurting the economy’s fiscal outlook, all of those, of course, are inflationary, and then, if you add in compromising Fed independence, you’ve got a real problem on your hands. I don’t think they want to go there.”