Core Viewpoint - The New York Federal Reserve's research indicates that U.S. businesses and consumers bear the majority of the burden from tariffs imposed by the Trump administration, leading to significant criticism from White House economic advisor Kevin Hassett, who labeled the findings as an embarrassment [1][6]. Summary by Sections Tariff Burden - The New York Fed's research found that U.S. businesses and consumers are responsible for 86% of the tariff burden, while foreign exports account for 14% as of November 2025 [2]. - The share of the burden on U.S. businesses and consumers decreased from 94% in the January to August period to 92% in September and October [2]. Average Tariff Rates - The average tariff rate increased significantly from 2.6% at the beginning of 2025 to 13% by the end of the year, peaking at around 16% in April and May following the announcement of "Liberation Day" tariffs [5]. Economic Impact - The New York Fed's findings align with other studies indicating that American importers are absorbing nearly all tariff costs, with the bulk of the incidence falling on U.S. firms and consumers [6]. - The Congressional Budget Office (CBO) reported that U.S. businesses would pass on approximately 70% of their tariff costs to consumers, with the remaining 30% affecting profit margins [10]. - The CBO projected that the new tariffs would increase the personal consumption expenditures (PCE) index by about 0.8 percentage points by the end of 2026, with current PCE inflation at 2.8%, exceeding the Fed's 2% target [11]. Defense of Tariffs - Hassett defended the Trump administration's tariffs, claiming that they have benefitted American consumers by reducing prices and increasing real wages by an average of $1,400 last year [12].

Steel Dynamics Raises Bid to Increase Its American Production Capacity - Barron'sSkip to Main ContentThis copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.# Steel Dynamics Raises Bid for BlueScope. How It Plans to Ramp Up U.S. Production.By [Al Root]ShareResize---ReprintsIn thi ...

Here's the headline in a very newsy set of minutes. Several participants indicated that they would have supported a two sided description of the committee's future interest rate decisions, reflecting the possibility that upward adjustments could be appropriate. The focus of the January meeting on inflation, largely rather than jobs and concern that bringing it down had stalled.Officials anticipated inflation would move down this year, but the pace and timing remained uncertain. The continuing rise in prices ...

Kevin Hassett on Wednesday called for researchers at the Federal Reserve Bank of New York to be “disciplined,” after the bank published a paper concluding that 90% of Trump’s tariff costs are falling on U.S. consumers and companies rather than foreign exporters.“The paper is an embarrassment,” the National Economic Council director said on CNBC’s Squawk Box.“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 l ...

Hassett says New York Fed staff should be disciplined over study finding Americans paid for Trump's tariffs - MarketWatch# Hassett says New York Fed staff should be disciplined over study finding Americans paid for Trump's tariffs## Trump economist's criticism comes ahead of possible Supreme Court ruling this weekPublished: Feb. 18, 2026 at 11:54 a.m. ETShareResize---Listen(2 min)A 40-foot-long banner designed to look like a purchase receipt was displayed in Los Angeles in December by the progressive group ...

The president's tariffs have created new economic opportunity for India, Brian Klein writes in a guest commentary. ...

White House economic advisor Kevin Hassett said Wednesday that the authors of a recent New York Federal Reserve paper that found U.S. companies and consumers are shouldering most of the tariff burden should be "disciplined."In a CNBC interview, the National Economic Council director ripped the report, saying that central bank researchers ignored key aspects of how the duties worked and instead simply focused on prices. Hassett said the research also should have included the upward impact on wages and benefi ...

The Federal Reserve cut its key interest rate by a quarter point (25 basis points) at the December FOMC meeting, placing the overnight borrowing rate in the 3.5%-3.75% range. GOBankingRates consulted experts to gather their predictions about what will happen to mortgage rates in the coming year. While many believe that interest rate decisions are the only thing responsible for mortgage rates, that’s not the case. When predicting mortgage rates, it’s important to consider current market conditions, includi ...

Open your pocketbooks. You're about to pay up for President Trump's tariffs this year. That's the overriding message from a recent report published by the Tax Foundation, a nonpartisan organization focused on tax policy. The impact of tariffs will cost the average U.S. household $1,300 in 2026, based on the Tax Foundation's analysis. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical tec ...

President Donald Trump announced Tuesday that the first $36 billion in Japanese-funded infrastructure and industrial projects have been officially approved, marking the operational launch of a massive $550 billion investment pact.Historic Economic LaunchThe announcement, delivered via Truth Social, signals the beginning of a multi-year commitment from Tokyo to revitalize the American industrial base. "Japan is now officially, and financially, moving forward with the FIRST set of Investments under its $550 B ...