Joseph Stiglitz on impact of tariffs on inflation: Prices are affected by cost

• Stiglitz believes the U.S. economy is currently weak and its prospects are deteriorating.
• He argues that tariffs are regressive, costing American families approximately $1,000, and have not succeeded in bringing back manufacturing jobs.
• Stiglitz expresses concern over the 'fanciful statements' of potential Fed chair nominee Kevin Warsh regarding AI's impact on interest rates, viewing them as 'very worrisome'.

Joseph Stiglitz, a Nobel Prize-winning economist, expresses a bearish outlook on the U.S. economy, stating it's 'not great' and likely to 'get worse.' He criticizes tariffs as regressive and distortive, arguing they failed to boost manufacturing jobs and contributed to inflation. Stiglitz also raises concerns about the institutional credibility of Trump's economic advisors and the suitability of Kevin Warsh as a Fed chair nominee.