Trump Adviser Kevin Hassett Criticizes Fed’s Tariff Cost Research

Kevin Hassett, a prominent economic adviser to former President Donald Trump, has recently criticized a study conducted by the Federal Reserve Bank of New York. The study concluded that U.S. companies bear the majority of the costs associated with tariffs. Hassett described the research as an “embarrassment” and urged the Federal Reserve to take action against the researchers involved.

Hassett’s Critique of Federal Reserve Research

The findings from the Federal Reserve have raised important questions about the economic implications of tariffs. According to the study, American businesses are significantly impacted by the costs imposed by these trade policies. Hassett disagrees with this assessment, advocating for a different perspective on the economic burden of tariffs.

Key Points from Hassett’s Statement

• Hassett claims the Federal Reserve’s research misrepresents the economic reality.
• He calls for accountability for the researchers behind the study.
• The criticism highlights ongoing debates regarding tariffs and their effects on U.S. companies.

This incident underscores the ongoing tension between policymakers and economic researchers. As tariff discussions continue, understanding their impact on businesses remains a critical concern for the U.S. economy.