Fed Nominee Miran: Tariffs Won’t Cause Inflation

Stephen Miran asserts tariffs won’t drive inflation, citing that US commodity inflation aligns globally. His Senate hearing notes tightening US border controls’ deflationary effects and critiques Fed’s past errors on interest rates in the 1970s.

Stephen Miran, nominated for the Federal Reserve Board of Governors, stated during a Senate Banking Committee hearing that tariffs will not lead to inflation, asserting this perspective publicly in Washington, D.C.

Miran’s statement challenges typical narratives, highlighting that tariffs are not a direct inflation trigger, drawing attention to broader economic discussions.

During his testimony, Miran emphasized tariffs do not cause inflation, contributing to ongoing debates on U.S. monetary policy. He noted that tightening U.S. border controls has a deflationary effect. This perspective may influence how market participants anticipate changes in monetary policy strategy.

“Tariffs do not cause inflation, and US commodity inflation has not deviated from global trends. Tightening US border controls has a deflationary effect.” — Stephen Miran, Fed Governor nominee.

A nomination like Miran’s can lead to increased speculation regarding future interest rate adjustments. His statements lean towards a dovish economic approach, potentially spurring interest in risk assets like BTC and ETH. Historically, similar nominations have led to market volatility.

Immediate reactions to Miran’s nomination have yet to surface in significant crypto market on-chain movements. Traditionally, these events may not directly cause asset flows, but they influence broader sentiment.

Further analysis of historical trends suggests that dovish monetary policies typically support digital asset value increases. These shifts might alter expectations about future rate dynamics without triggering immediate, measurable changes.

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