PANews reported on September 4th that Federal Reserve Board nominee Milan stated that tariffs do not cause inflation, that US commodity inflation has not deviated from global trends, and that tightening US border controls has a "deflationary effect." "My view on inflation is not solely influenced by monetary policy. The inflation of the 1970s was due to Fed mistakes and supply shocks. The Fed confused nominal and real interest rates in the 1970s."PANews reported on September 4th that Federal Reserve Board nominee Milan stated that tariffs do not cause inflation, that US commodity inflation has not deviated from global trends, and that tightening US border controls has a "deflationary effect." "My view on inflation is not solely influenced by monetary policy. The inflation of the 1970s was due to Fed mistakes and supply shocks. The Fed confused nominal and real interest rates in the 1970s."
Fed Governor nominee Milan: Tariffs will not cause inflation
PANews reported on September 4th that Federal Reserve Board nominee Milan stated that tariffs do not cause inflation, that US commodity inflation has not deviated from global trends, and that tightening US border controls has a "deflationary effect." "My view on inflation is not solely influenced by monetary policy. The inflation of the 1970s was due to Fed mistakes and supply shocks. The Fed confused nominal and real interest rates in the 1970s."
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