Nick Timiraos(@NickTimiraos ):Marc Sumerlin: Inflation isn't a serious problem right now. Tariffs are a tax hike. Tax increases lower inflation because they lower after-tax income. If the Fed had known the May & June jobs reports were as weak as they were, they could have cut rates by 25 bps in June & July

Nick Timiraos

@NickTimiraos

Chief economics correspondent, The Wall Street Journal • Author, "Trillion Dollar Triage”

Joined July 2009

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Nick Timiraos@NickTimiraos

2025.08.11 21:07

Marc Sumerlin: Inflation isn't a serious problem right now. Tariffs are a tax hike. Tax increases lower inflation because they lower after-tax income. If the Fed had known the May & June jobs reports were as weak as they were, they could have cut rates by 25 bps in June & July