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16th Jan 2025 19:19USWeekly Monitor

  • Tariffs are inflationary, despite claims to the contrary, and we see other upside risks during Trump 2.0…
  • …But a repeat of the runaway inflation seen in the latter half of the 1970s seems very unlikely.
  • The Fed provides a far more effective backstop against sustained inflation now than it did back then.

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Keywords for: 21 January 2025 US Monitor

independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence