Trump Economist Criticizes Fed Study on Tariffs
Kevin Hassett called for New York Federal Reserve staff to be disciplined. A New York Fed study found Americans paid for Trump's tariffs.
Hassett called the report an embarrassment. The study showed US consumers and businesses face costs from tariffs. Hassett is a Trump economist who shapes the president's economic plans.
Klear Note — Tariffs are taxes on imported goods that raise prices for American shoppers. The Federal Reserve studies economic impacts of government policies.
Key Terms 2
- tariffs taxes on goods imported from other countries
- Federal Reserve the central bank that manages US money and economy