Federal Reserve officials criticize Hassett's remarks, calling them detrimental to the central bank's independence.

Federal Reserve Board Member Kashkari stated that recent criticisms of the New York Fed's tariff research by Kevin Hassett, Chairman of the Council of Economic Advisers, undermine the central bank's independence. "This is just another attempt to damage the independence of the Federal Reserve," Kashkari said on Thursday regarding Hassett's comments. "Over the past year, we have seen multiple attempts to undermine the independence of the Federal Reserve." The New York Fed's economists found that most of the costs of Trump's tariffs are borne by American companies, and Hassett believes that this research is "embarrassing" and that those involved should be "disciplined."