Trump advisor says Fed researchers should be disciplined over tariff paper

Kevin Hassett, director of the National Economic Council, said Federal Reserve writers behind a New York Fed report on tariffs should be "disciplined." He called the paper "an embarrassment" and "the worst paper I've ever seen in the history of the Federal Reserve system," and told CNBC that "the people associated with this paper should presumably be disciplined because what they've done is put out a conclusion which has created a lot of news that's highly partisan based on analysis that wouldn't be accepted in a first semester econ class." The New York Fed economists concluded that 90% of the economic burden of higher tariffs fell on US firms and consumers.

United States, New York

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