Kevin Hassett says Fed researchers should be 'disciplined' over report that Americans are paying tariffs

[BumRushDaShow]

Source: CNN Business

PUBLISHED Feb 18, 2026, 3:38 PM ET


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.”

“It’s, I think, the worst paper I’ve ever seen in the history of the Federal Reserve system,” Hassett told CNBC in an interview. “The people associated with this paper should presumably be disciplined, because what they’ve done is they’ve 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,” Hassett continued. The New York Fed and the Fed Board of Governors declined to respond to CNN about Hassett’s comments.

Hassett’s primary concern with the research was, in his view, that it only focused on price-related effects of tariffs and not changes in the volume of imports.

However, that’s not entirely true. In assessing the tariff burdens, the authors calculate average duty rates over various periods of time. They define that as “the total monthly tariff revenue divided by the total value of imports in the month,” meaning import volume is taken into consideration. Specifically, they looked at how “global supply chains shifted in response to the higher tariffs.”

Read more: https://www.cnn.com/2026/02/18/economy/hassett-fed-researchers-disciplined

[IronLionZion]

1. MAGA thinks someone else pays tariffs the same way Mexico paid for the wall

Anyone ask MAGA how they feel about prices of everything these days?

[Lovie777]

2. For telling the truth.....

the evil sickness continues with these pyscopaths.

[rampartd]

3. simple question no one will ask

"mr secretary, should your employees be disciplined for telling you the truth?"

[LetMyPeopleVote]

4. Maddowblog-White House eyes punishments for economists who told the truth about tariffs, consumers

Donald Trump’s top economist didn’t just disagree with consensus economic research, he also suggested he wants to see researchers “disciplined.”

Link to tweet

https://www.ms.now/rachel-maddow-show/maddowblog/white-house-eyes-punishments-for-economists-who-told-the-truth-about-tariffs-consumers

Unfortunately for the White House, almost a year after Trump advanced his tariffs agenda, experts have scrutinized the evidence and concluded that their predictions were correct. From the Congressional Budget Office to international scholars to the National Bureau of Economic Research, all of the available data points in the same direction: American consumers, not foreign companies, are paying more as a result of the Republican president’s policy.

Last week, still more evidence emerged. Research published by economists at the Federal Reserve Bank of New York and Columbia University found that, through last fall, 90% of the economic burden from Trump’s tariffs fell on Americans, not foreigners.....

The trouble is, Team Trump doesn’t want economists and researchers to make reality clear.

Hassett on new study from NY Fed showing 90% of tariff burden is being shouldered by US firms & consumers: "The paper is an embarrassment. It's I think the worst paper I've ever seen in the history of the Fed system. The people associated with this paper should presumably be disciplined."

— Aaron Rupar (@atrupar.com) 2026-02-18T14:18:16.156Z

....Justin Wolfers, an economist at the University of Michigan, mocked Hassett’s on-air comments, writing via Bluesky, “Happy Kevin wants economists to be disciplined by their bosses for contradicting the regime’s understanding of The Truth.”

Paul Krugman released a related video on the subject, making a compelling case that Hassett’s call to discipline economists was “thuggish.” Krugman added, “That’s incredible. That’s like saying, ‘If you carefully study the data and come up with results that we in the Trump administration don’t like, we will punish you personally — or we will try to.”

In all likelihood, if the White House were serious about targeting the researchers, those efforts would fail. But as Krugman concluded, the public threat is itself “horrible.”

The war on dissent is ongoing, and there’s every reason to believe it’s getting worse.

[Fichefinder]

9. Hassetts version of truth is PRAVDA

[paleotn]

5. Well, Kevin.....

I think YOU should be "disciplined" in a remake of the Indiana corn field scene from the movie Casino.

Sorry, but I've had more than enough of these "people."

[Wiz Imp]

6. The Federal Government has no jurisdiction over Federal Reserve employees

Federal Reserve employees are not government employees. Only the Board of Governors are government workers.
https://www.kansascityfed.org/about-us/frequently-asked-questions/

Are Federal Reserve employees considered federal government employees and receive government benefits?
No. Federal Reserve Bank employees are not government employees; however, Board of Governors employees are considered government employees. Each Reserve Bank determines its own benefits and human resources policies, and employees are paid as part of the expenses of their employing Bank.

Funny how nobody in the Trump administration has any clue what is actually part of the Federal Government.

[maxsolomon]

7. I came here to say this.

THE FEDERAL RESERVE IS NOT A GOVERNMENT AGENCY.

Hassett is talking out his ass.

[BidenRocks]

8. I am reminded of a song!

Drivers or politicians and the like!

&list=RDsybrZXnWx60&start_radio=1

[muriel_volestrangler]

10. Send them to Room 101

and give their jobs to Comrade Ogilvy.

[mdbl]

11. Kevin Hassett - Typical right wing gaslighting asshole.

[GiqueCee]

12. Kevin Hassett is part of the Trump regime...

... therefore, he is a liar. A third-grader can see, explain, how tariffs hurt consumers. I want to see all of Trump's flying monkeys in prison, or in the ground.

[Mr. Sparkle]

13. That's very North Korean esque

[MLWR]

15. Go for it, Kevin and keep in mind, there is such a thing as DISCOVERY.