Fed's Miran downplays impact of Trump's tariffs on growth, inflation

Core Insights - Federal Reserve Governor Stephen Miran stated that the economic impact of President Trump's trade measures is minimal, with no significant evidence of growth slowdown or inflation increase [1][4] - The Trump administration has collected record-breaking tariff revenues, totaling $62.6 billion in August and September, contributing to a total of $215.2 billion for fiscal year 2025 [7][8] Group 1: Economic Impact of Tariffs - Miran emphasized that there are "no real material signs of growth drags" or inflation spikes due to the tariffs [1] - He noted that businesses have flexibility in sourcing, which mitigates the impact of tariffs on consumers [4] Group 2: Tariff Revenues - The federal government has seen consecutive record-breaking tariff revenues, with August and September alone bringing in $62.6 billion [7] - Total duty revenue for fiscal year 2025 reached $215.2 billion, indicating a significant financial impact from the tariffs [8] Group 3: Legal and Political Context - The Supreme Court is currently evaluating the legality of Trump's trade policy, which is a key aspect of his economic agenda [9] - Trump has expressed that the outcome of the Supreme Court case is crucial for the financial stability of the country [11]