Federal Reserve Governor Stephen Miran downplayed the economic impact of President Donald Trump's sweeping trade measures, saying there’s little evidence the new tariffs are weighing on growth or stoking inflation.

Miran, who spoke at Semafor’s World Economy Summit on Thursday, said there have been "no real material signs of growth drags, no real material signs of an inflation spike."

Pressed on whether consumers would end up paying more as companies pass along higher costs, Miran maintained that such a scenario was unlikely.

"As the importer, we're more flexible because we can allocate our demand across borders — we can buy from a country where we have a better trade deal, or we can make stuff at home," Miran said.

"The producers and their factories are stuck in place; the facto

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