Inflation Reaches 4.2% as Prices Outpace Paychecks
Reason cites senior economist Ryan Young regarding inflation.
The fact that those two lines have now crossed again should be setting off alarm bells inside the White House—particularly because Trump is directly responsible for the two most acute causes of rising prices. At this point, both will be difficult to fix quickly.
“The two main causes of rising prices were both avoidable: tariffs and the Iran war,” said Ryan Young, a senior economist at the Competitive Enterprise Institute, in a statement. “While the president could provide almost immediate relief by scrapping his tariffs, that is unlikely. If the Iran war were to end today, which is also unlikely, that damage would take well into next year to heal.”