Breitbart economics editor John Carney said Wednesday on Fox Business Network’s “Kudlow” that “overspending by the federal government” under the Biden administration caused inflation, not tariffs implemented by former President Donald Trump.
Kudlow said, “Because Trump might raise tariffs or use tariffs as a tool to enforce reciprocity, they’re all up in arms saying tariffs will cause inflation but you say they will not?”
Carney said, “They didn’t cause inflation. They screamed about inflation when Trump was president last time around and we didn’t see it. It just didn’t happen. I tracked month after month these numbers, everything you could imagine, the only thing I found went up in price were bicycles. That may have actually been a metal as tariff phenomenon but for the most part television prices went down, car prices went down. We actually got inflation under
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