President Trump’s newly married Pick Stephen Miran at the Federal Reserve Board said on Friday that uncertainty around American trade policies was partially responsible for slow economic development this year.
Miran, who was Confirmed To attend the Fed Meeting on Thursday on Wednesday, stated that an increase in the first half of the year “during an appearance on CNBC” hoped that we hope it was weak “.
“And as we thought from the recent data recent data, we thought it was also weak,” he said. “But I think the business policy and uncertainty around the business policy and tax policy were participated in part by the headwind for the economy.”
“You know, there was the greatest tax growth risk in history, and has been removed from the table, and has been replaced with some powerful investment incentives. And there was uncertainty from business policy, which is replaced by business deals and investment commitments,” he said.
Trump repeatedly warned of increase in taxes for Americans, if the tax was not deducted from their first term, which occurred earlier this year as part of their “big, beautiful bills”.
Miran, who served in the White House Council of Economic Advisors before being tapped for the Fed role, predicted that the economic development would rise in the second half of the year.
Trump’s tariff and mass GOP tax deduction have the effect of competition on the economy Latest Outlook Report From the Congress Budget Office (CBO). Tariff is expected to curb economic growth, while tax deduction is expected to promote it through increase in capital stock and productivity.
Federal Reserve this week facing increased stagflation mix this week Cut basic interest rate 0.25 percent, its first decrease in months.
Trump has stabilized the interest rates in the Federal Reserve, while blaming a weak labor market on a bad number from the Bureau of Labor Statistics (BLS).
The labor department stated earlier this month that the nation had created about 1 million less jobs from March 2024 to March 2025. While the data mostly falls during the eastPresident of President BidenThe administration, the report further evidence that the labor market was struggling.
Trump, who had fired the head of BLS last month, stated that the number of “real” jobs would come next year, talking to reporters before the latest report is released.
Federal Reserve Chairman Jerome Powell has repeatedly pulled out Trump’s fire from the leader to warns the possible recession in the economy due to the President’s economic policies.
Pavel said earlier this year, “While inflation in tariffs is likely to increase the least temporary increase, it is also possible that the effect may be more frequent.”
Currently, the validity of Trump’s widespread trade policy is being challenged in the court. Supreme Court agreed Listen to the argument of their administration To defend the use of the President’s emergency powers to determine the exchange rate on 5 November.
Last month, US Court of Appeals in Federal Circuit A 7-4 decision The decision of a lower court confirmed that tariffs were not authorized by relevant laws.
In the last two months, the Trump administration has made several agreements with foreign partners, including the European Union.
