Kevin Hassett criticized a recent Federal Reserve report on tariffs, claiming it was the worst study he has ever seen and calling for punishment of its authors.
In Washington, a new study published by the Federal Reserve has sparked intense reactions, particularly from Kevin Hassett, a key economic advisor to Donald Trump. In an interview on CNBC, he labeled the report a 'shame' and specifically targeted its conclusions, suggesting that it was the worst study he has ever encountered in the Federal Reserve's history. Hassett's harsh words raised eyebrows and intensified the scrutiny of the report's findings.
The Federal Reserve's study, released on February 12, explores the impact of tariffs implemented by the Trump administration the previous year. The main conclusion of the report indicates that nearly 90% of the economic burden imposed by these tariffs falls on American businesses and consumers rather than foreign exporters. This assertion challenges the narrative that tariffs will primarily penalize foreign suppliers, highlighting the detrimental effects on the U.S. economy and the financial weight placed on its citizens.
Hassett's reaction underscores the ongoing debate regarding the effectiveness of the Trump administration's trade policies. As key figures in the administration assess the implications of such economic studies, calls for accountability regarding the authors of the report reflect the contentious nature of trade and tariff discussions in U.S. politics. With such polarized opinions, the study's findings are likely to influence future policy decisions and economic strategies within the administration.
