Profstonge Weekly

Profstonge Weekly

Why no Tariff Inflation?

And Why Haven't they Yet

Peter St Onge's avatar
Peter St Onge
Jul 18, 2025
∙ Paid

We’ve seen essentially zero tariff inflation after 4 months.

Jerome Powell keeps warning it's right around the corner. While Secretary Bessent claims tariffs “cannot” cause inflation.

So who's right.

Inflation and Tariffs

In a recent interview with Larry Kudlow, Treasury Secretary Bessent claimed tariffs "cannot be inflationary."

Because unless you're printi…

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