US EditionTrump 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.
24 Articles
24 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.
Hassett: Fed researchers should be punished for Trump tariff analysis
President Trump’s top White House economic adviser suggested Thursday that a group of Federal Reserve researchers should be punished for a paper exploring the costs of Trump’s tariffs. In a Thursday interview, National Economic Council Director Kevin Hassett condemned a new paper from Federal Reserve Bank of New York economists, who found that consumers paid…
White House pushes back at Fed study saying Americans pay nearly all tariff cost
President Donald Trump’s tariffs have raised billions of dollars since he implemented them in January. Who pays for those has been hotly debated inside and outside of the Washington D.C. beltway. The latest finding saying American consumers bear that cost has the White House lashing out. White House economic advisor Kevin Hassett on Wednesday criticized a recent New York Federal Reserve paper that found U.S. consumers are paying for the majori…
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