Watch CNBC's full interview with White House National Economic Council Director Kevin Hassett

• Hassett dismisses the New York Fed study on tariff burden as flawed and partisan, arguing it ignores crucial economic factors like quantity changes.
• He asserts that President Trump's tariffs are achieving their goal of hurting China, driving up U.S. wages (real wages up $1400/year for average family), and improving consumer well-being.
• Hassett contends that the policies are not regressive, as job creation and wage increases are particularly benefiting those at the lower end of the income spectrum.
• He predicts robust economic growth (GDP north of 4%, potentially 5%) and inflation stabilizing around the 2% target, contrary to predictions of runaway inflation or stagflation.

White House National Economic Council Director Kevin Hassett strongly refutes a New York Fed study claiming U.S. firms and consumers bear 90% of tariff costs. He calls the study an 'embarrassment' and argues that tariffs have led to increased real wages, job creation, and stable prices, ultimately benefiting American consumers and the economy. Hassett projects continued strong GDP growth and controlled inflation.