Carney on ‘Kudlow’: Economists are Wrong Again about Trump’s Tariffs

On Tuesday’s broadcast of the Fox Business Network’s “Kudlow,” Breitbart News economics editor John Carney stated that we know inflation is caused by deficit spending by the government that the Federal Reserve accommodates and “these economists know better. When they say Trump’s going to cause inflation, they’re basically fibbing.”

Carney said, “People know — as you were saying — inflation is not an issue — inflation is not caused by tariffs. Milton Friedman taught us a long time ago, inflation is caused by monetary policy, it’s caused by deficit spending accommodated by the Federal Reserve. Tariffs don’t cause inflation at all, these economists know better. When they say Trump’s going to cause inflation, they’re basically fibbing.”

Follow Ian Hanchett on Twitter @IanHanchett