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flag White House adviser Kevin Hassett attacked a Fed study showing tariffs hurt U.S. consumers and businesses, calling it flawed and demanding punishment for researchers.

flag White House economic adviser Kevin Hassett criticized a New York Fed study finding that U.S. businesses and consumers bore 90% of the cost of 2025 tariffs, calling the research an "embarrassment" and the worst in Fed history, and demanding disciplinary action against the authors. flag The study, which found import prices rose 11% more for tariffed goods after tariffs surged from 2.6% to 13%, aligns with findings from Harvard, the University of Chicago, and the Congressional Budget Office. flag Hassett disputed the results, claiming tariffs lowered inflation and raised real wages, but his remarks reflect growing political tension over central bank independence and the administration’s pushback against economic research contradicting its narrative.

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