Economists are facing a significant shake-up as Stephen Miran, a prominent figure nominated for the Federal Reserve Board of Governors, has challenged long-held views regarding tariffs and inflation. Miran boldly asserts that tariffs do not directly cause inflation, sparking debate across economic sectors and policy circles. While traditional economics believes tariffs lead to higher prices through supply-side shocks, Miran argues market mechanisms will effectively mitigate this impact. [Insert link to the original article here] This challenge raises crucial questions about how global trade policies affect economies in real-time, potentially impacting monetary policy decisions and financial markets. This debate highlights the complexities of modern economics. [Continue with the analysis provided by the article]