Economic Advisor: Recession Requires Significant Shifts

Donald Trump’s former economic advisor, Miran, has suggested that a recession is not an inevitable outcome and requires specific changes in policy to occur. In 2018, there was no indication of a direct link between tariffs and inflation. Miran further emphasized the importance of tax cuts and deregulation as potential catalysts for economic growth. Importantly, imports constitute a relatively small portion of the U.S. GDP, representing only 14%. However, Miran acknowledges that market fluctuations can occur due to the implementation of tariff policies.