Former Trump administration official Steve Moore admitted Tuesday that increased inflation from tariffs imposed by President Donald Trump “just isn’t showing up.”
The Consumer Price Index rose 2.3% year-over-year in April, down from 2.4% in March, according to data from the Bureau of Labor Statistics. Moore said that his prior predictions that the duties would increase inflation were “wrong.”
“I’ve been wrong. I thought these tariffs would cause higher inflation. Tariffs are taxes, and consumers bear some of the cost of that, but it just isn’t showing up in the numbers right now,” Moore told Fox Business host Larry Kudlow. “It just really isn’t, and if you look at any, almost any measure of inflation right now, it’s pretty tame.”
WATCH:
[rumble]https://rumble.com/embed/v6rrlch/?pub=3rtroj[/rumble]
“I mean, somewhere in the 2.5-3% range, which is a little bit higher than we want, but hardly a catastrophe, and I want to make one other quick point,” Moore continued. “There was that slight increase in what was it, the 30-year bond interest rate, and oh, my god, the world’s coming to an end, but that rate isn’t really up much and neither is the 10-year.”
Trump announced a 90-day pause on reciprocal tariffs via an April 9 post on Truth Social that also announced substantial increases on tariffs on Chinese exports to the United States, a week after he initially unveiled the duties on imports. Trump later announced a reduction in tariffs on Chinese goods after negotiations in Geneva.
Moore had been critical of the Trump tariffs, telling Fox News host Trey Gowdy during a March 9 Fox News appearance that the tariffs were a mistake, citing the “wobbly economy,” according to The Hill.
“I think that the president’s emphasis on tariffs right now is misguided,” Moore told Gowdy. “We have a very wobbly economy. We saw a not very good jobs report on Friday [March 7]. The consumer confidence numbers are sinking, and other indicators are not positive.”
Consumer confidence increased by 12.3 points in May, the first increase in five months, according to The Conference Board.
All republished articles must include our logo, our reporter’s byline, and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact licensing@dailycallernewsfoundation.org.
DONATE TO BIZPAC REVIEW
Please help us! If you are fed up with letting radical big tech execs, phony fact-checkers, tyrannical liberals and a lying mainstream media have unprecedented power over your news please consider making a donation to BPR to help us fight them. Now is the time. Truth has never been more critical!
- Police chief who groveled after discussing ‘East African crime’ panders to Somalis again - December 17, 2025
- Ilhan Omar whines about ICE operations in Minneapolis - December 17, 2025
- ‘It’s all bullsh*t’: Tim Walz goes on anti-Second Amendment rant - December 17, 2025
Comment
We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. Thank you for partnering with us to maintain fruitful conversation.
BPR INSIDER COMMENTS
Scroll down for non-member comments or join our insider conversations by becoming a member. We'd love to have you!
