Fed Governor Stephen Miran Pours Cold Water On Tariff-Induced Inflation Fears, Says It Is Not A 'Material Driver' - SPDR S&P 500 (ARCA:SPY)

Federal Reserve Governor Stephen Miran on Wednesday sharply challenged the widespread view that tariffs are a significant cause of inflation, stating he sees no evidence in the data that they are a “material driver” of rising consumer prices.Tariffs Not A ‘Material Driver’ For InflationSpeaking at the MFA Policy Outlook 2025 conference, Miran outlined a data-driven case against the tariff-inflation link.He argued that if tariffs were a major factor, goods subject to import duties should show higher inflatio ...