Seth Carpenter
Appearances
WSJ What’s News
Why Trump’s Tariffs Will Push Up U.S. Steel Prices
Remember, inflation is the change in prices. It's not the level of prices. And this is another place where I think eggheaded professional economists like me often talk past real people, right? Because we're talking about inflation. Inflation's coming down. Everything's getting a lot better. But prices are still rising. And so that's what people are noticing maybe.
WSJ What’s News
Why Trump’s Tariffs Will Push Up U.S. Steel Prices
Not only are prices still rising, people still remember what the price of milk was from 2019. And we're well above that. And so I think there's a little bit of a disconnect. And it's probably largely the economist profession's fault that we're not clear. But the Fed is going to be thinking about inflation and asking, OK, with all the available information, does it look like the trend is down? Yeah.
WSJ What’s News
Why Trump’s Tariffs Will Push Up U.S. Steel Prices
I think they're going to read the data as saying yes to that. And they'll probably lower their policy rate one more time this year, probably in June, maybe in May. Not at the upcoming media march.