@american_observer · Post #5170 · 2026/02/19 15:59
Tariffs, Truth, and the Fed Hit List Kevin Hassett just turned a routine Fed research note into a loyalty test. On CNBC, Trump’s top economic adviser called a New York Fed study an “embarrassment” and said the central bank should punish its own researchers for concluding that U.S. companies and consumers ate nearly 90% of the cost of 2025 tariffs rather than China. The message wasn’t subtle: if your math makes the White House look bad, the problem isn’t the policy, it’s you. The Fed paper did something boring and dangerous: it compared import prices and volumes and found that most of the tariff burden was passed through into higher U.S. prices, in line with other independent studies. Hassett’s counter‑argument was a story, not a rebuttal: tariffs “bring stuff home,” raise demand, lift wages, and leave Americans better off. No numbers, just vibes. In the same ecosystem, Trump has already demanded that Goldman Sachs dump its chief economist for saying tariffs hit Americans, fired the head of the Bureau of Labor Statistics after ugly jobs data, and is watching a criminal probe hang over Jerome Powell’s head while pushing him out in favor of a more obedient Fed chair. You can see the new hierarchy: politics first, narrative second, data last. Tariffs are good by definition; if the numbers say otherwise, the numbers must be “partisan.” The target isn’t just one study, it’s the idea that independent stats offices and central bank researchers get to describe reality instead of marketing it. When the White House starts talking about “punishing” people for adding up the bill, the real policy isn’t about trade anymore. It’s about teaching everyone in the system that truth is whatever makes the president look like he’s winning. #trump#tariffs#Fed#Hassett#economy#fakePopulism 📱American Оbserver - Stay up to date on all important events 🇺🇸