Sean CastenChoosing cowardice, stupidity and lies just to stay in Donald Trump’s good graces will ALWAYS come back to bite you in the ass. A play in 3 acts:
Act 1: Scott Bessent, prior to being named Trump’s Treasury Secretary says, unambiguously, “tariffs are inflationary”. https://assets.realclear.com/files/2024/02/2353_keysquare.pdf
Act 2: Scott Bessent, fully ensconced in his role as Toady for Trump at Treasury says: “I was mistaken when I said that tariffs could be inflationary” https://youtube.com/shorts/2-TFvYKmUEU?si=VczZVphtCRLKIWw5
I Was Also Mistaken When I Said The Tariffs Could Be Inflationary: Scott Bessent | US Tariffs | N18G
Act 3: Cato Institute with the receipts. https://www.cato.org/blog/one-year-after-liberation-day-heres-what-we-know-what-we-dont
a wandering happenstance@SeanCasten I don’t understand this graph, I guess. It’s saying that indexed to January 2024, price trends were deflationary? And that their projected trend is, uh, 3% year-over-year deflation?
I agree that there seems to be a change at the introduction of tariffs, but it seems to me that 3% year-over-year deflation is not realistic and it certainly shouldn’t be expected to continue linearly.