Breitbart Business Digest: The New York Fed’s Tariff Math Doesn’t Add Up

The Fed Gets ‘Who Pays for Tariffs’ Wrong Again

“You’re Paying 90% of Trump’s Tariffs,” the Wall Street Journal editorial board declared last week.

It’s a startling claim. The hook is obvious: you, the shopper, are eating the tax. To back it up, the WSJ’s editors pointed to the New York Fed’s latest look at import prices .

But the study—led by New York Fed economist Mary Amiti—is based on data and methodology known to be problematic for at least seven years. Ultimately, it does not tell us who is paying the tariffs .

What the New York Fed’s study shows is actually something narrower: customs unit values didn’t change much , so it doesn’t see…

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