Kevin Hassett
speaker
2,210 appearances
195 recordings
16 series
first heard Oct 2024
last heard 10 Aug
Kevin Hassett’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 154 in all, peaking in May 2026 with 38.
Appearances
make sure that you're using models that make sense and forecasts that make sense and that you have a strong argument for, say, productivity, producing growth that doesn't cause inflation, and then you really have to be convincing with the economics.
And the thing about independents is
that I just want to tell a little story about it that shows how much it's really important.
There's a big literature that says that if the Fed loses its independence, then inflation expectations become unmoored.
And so you can't let the Fed lose its independence and
The story is one that goes back to the 90s that you and I were talking about with me and Chairman Greenspan.
That one of the first papers that I wrote when I was on leave from Columbia and working at the Fed was with my colleague, Jim Metcalf, who was at Princeton at the time.
And we, President Clinton had run on having a BTU tax, if people are old enough to know.
And the BTU tax was one of his main things that he and Al Gore, because they were way ahead of the curve on climate,
And so given our public finance economists, we wanted to know, well, what does a BTU tax do?
How does it work?
How to model it and stuff?
And we wrote a paper on the economic impact of the BTU tax.
And it was really, I think, the first paper in the economic literature that also we said, well, we're doing the BTU tax.
We should do a carbon tax, too.
So we had the economic effects of a carbon tax and a BTU tax.
And so we had this paper, really good paper I thought, but you had to go through the review process at the Fed.
And Chairman Greenspan ordered us not to publish the paper.
He said that right now President Clinton has said that there's going to be a BTU tax and we can't have the Fed looking like it's putting its finger on a scale.
What's a political debate about the BTU tax?
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