US Edition
Trump adviser Hassett suggests New York Fed researchers be punished for tariffs argument
White House adviser Kevin Hassett called the New York Fed study partisan and flawed, urging discipline for authors despite consensus that 90% of tariff costs hit U.S. consumers and firms.
- On February 18, 2026, White House economic adviser Kevin Hassett said those behind the New York Federal Reserve paper posted Feb. 12 should be disciplined, calling it "an embarrassment."
- Hassett criticized the study's method, saying New York Fed researchers focused on price changes and omitted reshoring wage and benefit effects that could offset tariff costs.
- Other studies and researchers reported some analyses found 94% of tariff costs passed to U.S. firms and consumers, while the Congressional Budget Office estimated foreign exporters absorb 5% of costs.
- New York Fed officials declined comment, and the dispute comes as the Supreme Court prepares a ruling that could limit presidential tariff authority while the White House plans a response.
- Academic and bank analyses, including Gita Gopinath and Brent Neiman, point out nearly 100% tariff pass-through to U.S. import prices, with CPI rising 2.5% in January.
28 Articles
28 Articles
Kevin Hassett says Fed researchers should be ‘disciplined’ over report that Americans are paying tariffs
National Economic Council Director Kevin Hassett said Wednesday that researchers at the New York Federal Reserve who produced a study finding American businesses and consumers are shouldering 90% of the cost of President Donald Trump’s tariffs should be “disciplined.”
Trump's top economic advisor says Fed researchers should be punished for their recent views on tariffs
Kevin Hassett, who is reportedly in the front-running to be the next Fed Chair, stands next to President Donald Trump in the Oval OfficeChip Somodevilla/Getty ImagesTrump's top economic advisor said Fed economists behind a recent report on tariffs should be "disciplined."The report from the New York Fed found that Americans bear 90% the economic burden of tariffs.Economists voiced worries about the comments and what they mean for Fed independenc…
Kevin Hasset considers the report to be "slow" showing the weight of prices on American consumers and businesses.
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