Martin Nutty<p>Excellent piece from <a href="https://mastodon.ie/tags/TheDaily" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>TheDaily</span></a> on Trump’s firing of Dr. Erika McEntarfer, head of the Bureau of Labor Statistics</p><p>Ben Casselman speaks to methodology behind the numbers and their revisions, the likelihood of rigging the numbers, and the perils of undermining market confidence in government statistics. </p><p>While <a href="https://mastodon.ie/tags/Trump" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>Trump</span></a> rages about the numbers, they may well reveal an important inflection point in the <a href="https://mastodon.ie/tags/economy" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>economy</span></a></p><p><a href="https://mastodon.ie/tags/USPolitics" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>USPolitics</span></a> <a href="https://mastodon.ie/tags/USPol" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>USPol</span></a> <a href="https://mastodon.ie/tags/Economics" class="mention hashtag" rel="nofollow noopener" target="_blank">#<span>Economics</span></a> </p><p><a href="https://www.nytimes.com/2025/08/05/podcasts/the-daily/trump-fires-bls-head-economic-data.html" rel="nofollow noopener" translate="no" target="_blank"><span class="invisible">https://www.</span><span class="ellipsis">nytimes.com/2025/08/05/podcast</span><span class="invisible">s/the-daily/trump-fires-bls-head-economic-data.html</span></a></p>
#economy
305 posts176 participants22 posts today
“RFK Jr.'s Confirmation Hailed By National Alliance of Funeral
Directors”
(A repeat)
Soldi spariti e bancomat KO: #IntesaSanpaolo in tilt ieri mattina! Scopri cosa è successo davvero su ORA ULTIMA: https://www.oraultima.com/problemi-intesa-sanpaolo-oggi/
Ora Ultima · Problemi Intesa Sanpaolo oggi: down | Ora UltimaProblemi Intesa Sanpaolo oggi: caos per migliaia di utenti, prelievi e transazioni bloccate in tutta Italia. Analisi sui problemi di ieri- Ultima Ora
The European Commission hopes to finalise EU-US trade deal soon.
The two sides are set to publish a joint statement formalising the 27 July compromise.
Brussels is suspending retaliatory measures that would have taken effect if a transatlantic deal had not been reached.
Le Monde · The European Commission hopes to finalise EU-US trade deal soon.
#Tinexta dice addio a Piazza Affari? Un'OPA da brividi cambia le regole del gioco! Scopri il futuro del titolo e del settore su ORA ULTIMA: https://www.oraultima.com/tinexta-opa/
It’s (Still) the Economy, Stupid – David M. Drucker
Candidates running for office this year and next are focusing specifically on “affordability,” a broader economic issue distinct…
#Europe #Economy #2026midterms #economics #housing #Inflation
https://www.europesays.com/2306310/
Sweeping tariffs imposed by U.S. President Donald Trump are leaving their mark on the U.S. economy in trade and beyond, with businesses saying new import taxes are driving up costs and making planning more difficult. https://www.japantimes.co.jp/business/2025/08/06/economy/us-trade-gap-tariffs-service-sector/?utm_medium=Social&utm_source=mastodon #business #economy #us #donaldtrump #trade #tariffs #republicans #economicindicators
The Japan Times · U.S. trade deficit narrowed 16% in June as high tariffs cast shadow on services
It would be wild if the dollar dropped further. As a European consumer, that might be good, but considering the 15% tariffs and the strong euro, I would expect it to completely kill trade from the EU to USA.
Tourism would also be a problem, since many Americans might not be able to afford holidays in the EU. Luckily, I’m not working for a US company, as that would mean a pay cut as well.
#economy #dollar #euro #eu #usa
www.currencynews.co.ukEuro to Dollar Forecast: EUR/USD at 1.50 Over Next 5 Years | Currency News UKForeign exchange analysts at Berenberg see scope for the Euro to Dollar exchange rate (EUR/USD) to gain to 1.50 over the next five years, amid US fundamental vulnerabilities.
Japanese workers saw their nominal wages rise at the fastest pace in four months, fueling market speculation that the Bank of Japan could hike its benchmark rate in coming months. https://www.japantimes.co.jp/business/2025/08/06/economy/nominal-pay-june/?utm_medium=Social&utm_source=mastodon #business #economy #japaneseeconomy #wages #us #boj #mhlw #inflation
The Japan Times · Japan’s nominal pay rises faster in June, backing case for BOJ rate hike
Continued thread
#Trump has openly mused about whether to remove #JeromePowell before his tenure as chair ends, but he's held off on dismissing the #Fed chair after a recent #SCOTUS ruling suggested he could only do so for cause rather than out of policy disagreements. Trump has put pressure on Powell by claiming he mismanaged the Fed's $2.5 billion renovation project [& exaggerating its cost], but he's also said that he's "highly unlikely" to fire Powell.
Continued thread
The news that #Trump plans to make a decision on the #Fed chair "soon" comes as the Republican president has been highly critical of current chair #JeromePowell, whose term ends in May 2026. Trump recently floated having the Fed's board of governors take full control of the US central bank from Powell, whom he has relentlessly pressured to cut short-term interest rates in ways that raise questions about whether the Fed can remain free from White House politicking.
Continued thread
"I think Kevin & Kevin, both Kevins, are very good," #Trump said during an interview on CNBC's "Squawk Box."
He said 2 other people were also under consideration, but Treasury Secretary Scott Bessent is not among them.
"I love Scott, but he wants to stay where he is," Trump said. He did not name his other 2 top candidates but used the opportunity to disparage #JeromePowell, whom he has dubbed "too late" in cutting interest rates.
