WASHINGTON: White House economic adviser Kevin Hassett said today that the authors of a New York Federal Reserve study should “be disciplined,” after their paper found US firms and consumers shouldering most of the economic burden from tariffs.
“The paper is an embarrassment,” Hassett told CNBC in an interview.
“It’s, I think, the worst paper I’ve ever seen in the history of the Federal Reserve system,” he said.
“The people associated with this paper should presumably be disciplined,” added Hassett, who was previously considered by President Donald Trump as a potential successor to lead the US central bank.