Published Date Mar 07, 2025

“Nothing is more transitory than tariffs,” Bessent said at an event hosted by the Economic Club of New York, using the same T-word that both Powell and the Biden administration used to describe inflation in the wake of post-Covid supply chain disruptions. (Those price spikes ultimately lasted much longer and arguably helped cost the Democrats the presidency.)


READ MORE: Trump’s tariffs put the Fed’s Powell in a bind

By Caroline Gaudette

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