Kevin Hassett, Trump’s longest-serving economic adviser, is a leading contender to become the next Federal Reserve chairman, a position with significant influence over interest rates and the U.S. econ

He also said that countries that export goods to the U.S. are eating the tariff costs themselves instead of passing them on to the buyers in the United States.

Patriotism is now being used as an inflation control strategy by the White House, according to economic advisor Kevin Hassett, who on Monday told CNBC’s Squawk Box that Americans are choosing to buy more local products because of President Trump.

White House National Economic Council Director Kevin Hassett said President Donald Trump has seen outlines of trade deals ahead of the Aug. 1 tariff deadline. “The bottom line is that he’s seen some sketches of deals that had been negotiated with Howard Lutnick and the rest of the trade team,

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"The bottom line is that President Trump has produced a huge amount of tariff revenue with the tariffs we've seen in the first half of the year," National Economic Council Director Kevin Hassett said

Economists expect inflation to have risen 2.7% over the year ending in June, which would mark a notable acceleration from 2.4% annual inflation recorded in the previous month.

White House Economic Council Director Kevin Hassett defends Trump's 50% copper tariff, citing national security concerns and domestic production.

The most recent criticisms against Fed chair Jerome Powell come after President Donald Trump continues to demand lower interest rates.