Joseph Lavorgna, counselor to Treasury Secretary Scott Bessent, believes tariffs are not inflationary and says economists who have been predicting that prices would rise due to President Donald Trump’s import duties are wrong.

Tariffs pose rising inflation and rate cut risks for H2 2025 as CPI data hints at early price pressures in key goods. See why markets may be underpricing this threat.

Critics of President Trump's tariff policies have been waiting for the import taxes to raise the inflation rate. That effect may be beginning.

A new report found inflation on the rise in June, another indicator of the affect Donald Trump's tariffs are having on the US economy.

Inflation rose last month to its highest level since February as President Donald Trump’s sweeping tariffs push up the cost of a range of goods, including furniture, clothing, and large appliances.

Tariffs contributed modestly to the rise of inflation last month, analysts told ABC News, citing the price hikes in product categories made up primarily of imports. But, they added, overall price increases owed largely to a rise in housing and food products with little connection to tariffs.

With all the crosscurrents, the responsible solution is for policymakers to wait for more evidence, and that’s exactly what the Fed is doing under Powell’s stewardship,” Levin

Inflation has ticked up again—do you know if your savings is keeping up? We’ll show you how to tell if your money’s falling behind—and easy ways to stay ahead.