News

Bessent: How Can The Fed Set Rates When Jobs Data Is This Broken? "This Was A Five Standard Deviation Mistake"

Treasury Secretary Bessent defended President Trump's decision to fire Bureau of Labor Statistics (BLS) head Erika McEntarfer after unprecedented downward revisions to May and June jobs figures ...

Bostic: Labor Market Risks Rising, but a Lot of Data to Come Before September Meeting

Employment growth slowed and the unemployment rate rose in July, and new data from the Bureau of Labor Statistics showed a ...

Fed official says last week's jobs revisions could signal an economic turning point

Federal Reserve Governor Lisa Cook said the significant downward revisions to the monthly jobs numbers could point to an ...

Markets are near-certain of a September rate cut as more Fed presidents turn dovish overnight

Neither Presidents Kashkari or Daly—nor Governor Cook—dissented at the July meeting. With Governor Chris Waller and FOMC ...
Institute on Taxation and Economic Policy5hOpinion

Trump’s Firing of BLS Commissioner is Part of Larger Erosion of Federal Data Infrastructure

Last week, President Trump fired the Commissioner of the Bureau of Labor Statistics in apparent retaliation for weak jobs ...

The Labor Market Confirms That the Fed Has Made a Policy Error

As weak as the headline figures appear, it was the fine print that confirmed the Fed’s policy error. The government revised ...

Eli Lilly Earnings, Fed Speakers, Bank of England Rate Decision: Still to Come This Week

Earnings season marches on, with Eli Lilly among the big names yet to report this week. President Trump has said he will name replacements this week for Federal Reserve governor Adriana Kugler and [Bu ...