Senior Fellow Judy Shelton, author of Good as Gold is interviewed on BBC radio. In the last months of 2024, the US economy grew at a lower pace than economists forecast. Judy Shelton says the effect of tariffs will be less important than the supply side agenda of the Trump administration. Inflation should go down if energy prices fall and businesses can expand with access to captal. International currency manipulation hurts US manufacturing and Trump intends to use tariffs as a negotiating tactic, she says .