Former Trump administration official Steve Moore admitted Tuesday that increased inflation from tariffs imposed by President Donald Trump “just isn’t showing up.”
The Consumer Price Index rose 2.3% year-over-year in April, down from 2.4%in March, according to data from the Bureau of Labor Statistics. Moore said that his prior predictions that the duties would increase inflation were “wrong.”
“I’ve been wrong. I thought these tariffs would cause higher inflation. Tariffs are taxes, and consumers bear some of the cost of that, but it just isn’t showing up in the numbers right now,” Moore told Fox Business host Larry Kudlow. “It just really isn’t and if you look at any, almost any measure of inflation right now, it’s pretty tame.”
