Hassett criticizes NY Fed paper on tariff costs, calls for disciplinary action in World Economy News 19/02/2026 Kevin Hassett, a top economic adviser to President Donald Trump, harshly criticized a New York Federal Reserve research paper on Wednesday, calling for disciplinary action against its authors. The paper, which concluded that Americans primarily bear the costs of tariffs rather than foreign entities, was described by Hassett as “an embarrassment” during a CNBC interview. “It’s, I think, the worst paper I’ve ever seen in the history of the Federal Reserve System,” said Hassett, who serves as the director of the White House’s National Economic Council. Hassett argued that the researchers should face discipline for producing what he characterized as substandard work. He claimed they “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 research paper’s findings contradict the Trump administration’s position that foreign countries primarily absorb the costs of U.S. import taxes. The New York Fed’s conclusions have been supported by similar findings from other sources. Source: Investing.com 2026-02-19 hellenicshippingnews... window.___gcfg = {lang: 'en-US'}; (function(w, d, s) { function go(){ var js, fjs = d.getElementsByTagName(s)[0], load = function(url, id) { if (d.getElementById(id)) {return;} js = d.createElement(s); js.src = url; js.id = id; fjs.parentNode.insertBefore(js, fjs); }; load('//connect.facebook.net/en/all.js#xfbml=1', 'fbjssdk'); load('https://apis.google.com/js/plusone.js', 'gplus1js'); load('//platform.twitter.com/widgets.js', 'tweetjs'); } if (w.addEventListener) { w.addEventListener("load", go, false); } else if (w.attachEvent) { w.attachEvent("onload",go); } }(window, document, 'script')); tweet Share