Hassett slams NY Fed tariff study, urges accountability for its authors
TL;DR Summary
White House economic adviser Kevin Hassett blasted a New York Fed paper claiming Trump tariffs largely fall on U.S. firms and consumers, calling it “an embarrassment” and urging disciplinary action for its authors. The NY Fed study, echoed by other reputable research, says about 90% of the tariff burden has been borne domestically with import prices for tariffed goods rising roughly 11%, and that U.S. households paid the majority of the cost in 2025 before the share moderated later that year. The NY Fed declined to comment.
- Hassett says Fed staff should be 'disciplined' for reporting the US pays tariff costs Politico
- White House economic adviser says Fed researchers should be punished The Washington Post
- Kevin Hassett says Fed researchers should be ‘disciplined’ over report that Americans are paying tariffs CNN
- Hassett says authors of New York Fed tariff study should be disciplined: 'Worst paper I've ever seen' CNBC
- Who Is Paying for the 2025 U.S. Tariffs? Liberty Street Economics
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