Treasury Secretary Scott Bessent has characterized the criticism of President Trump's trade plan as driven by what he terms "Tariff Derangement Syndrome," a shift from the earlier "Trump Derangement Syndrome." Bessent emphasized that despite concerns, empirical data shows no inflation has resulted from the tariffs implemented four months ago, contradicting early predictions by Wall Street and many economists that tariffs would cause substantial price increases. He stated that tariffs have not led to a rise in price levels thus far. This position contrasts with Federal Reserve Chair Jerome Powell's warnings that tariff-related inflation could be imminent. The debate highlights differing views on the economic impact of tariffs, with some commentators noting that focusing on inflation may overlook the broader economic consequences of tariffs, such as reduced economic welfare.