Tariff Inflation Mythology

Ironsides Macroeconomics 'It's Never Different This Time'

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Tariff Inflation Mythology

Inflation is always and everywhere a monetary & fiscal phenomenon, not due to an import tax, the ominous outlook for the federal debt and deficits

Barry C. Knapp

May 19, 2025

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This is an audio summary of our May 17 note, Tariff Inflation Mythology

*Figure 4: Rising producer goods prices were more than offset by services prices.*

Barry C. Knapp

Managing Partner

Director of Research

Ironsides Macroeconomics LLC

908-821-7584

bcknapp@ironsidesmacro.com

https://www.linkedin.com/in/barry-c-knapp/

@barryknapp

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