‘Worst paper I’ve ever seen’ – Business News
Kevin Hassett, a prime financial adviser to President Trump, on Wednesday mentioned these behind a New York Federal Reserve analysis paper that argued the prices of tariffs are borne largely by Americans needs to be punished for what he described as shoddy scholarship.
“The paper is an embarrassment,” Hassett mentioned in a CNBC interview. “It’s, I think, the worst paper I’ve ever seen in the history of the Federal Reserve System” and “the people associated with this paper should presumably be disciplined” for writing it.
The paper argued that Trump’s massive import tax will increase are borne by these within the US, reasonably than by foreigners, because the administration has long argued.
Kevin Hassett, a prime financial adviser to President Trump mentioned “the people associated with this paper should presumably be disciplined” for writing it. AP
The findings within the New York Fed paper have been echoed elsewhere.
Hassett, the director of the White House’s National Economic Council, mentioned the New York Fed researchers have “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 didn’t instantly reply to a request for remark.
