I probably would have fired the head of the Bureau of Labor Statistics too.
That's because its process for making estimates is obviously obsolete and error-prone, and there is no good plan in the works for fixing it. The huge revisions in Friday’s employment numbers are symptomatic of this, especially because the revisions brought the numbers toward private estimates that were in fact much better. I assure you that this is something that I know a lot about because of how I use data to follow the economy and bet on where it's going.
Of course, if the way most people in the media are in conveying President Trump’s motivation for the firing is correct —such as The New York Times saying "When President Trump didn’t like the weak jobs numbers that were released on Friday, he fired the person responsible for producing them"—that would be a big problem because leaders manipulating numbers that distort the truth to suit their political objectives is a classic sign of the loss of a functioning system with rule of law and checks and balance, and the loss of these things leads to the loss of confidence that underpins our whole economic and political system.
So, it would be good if President Trump made his thinking clear.
In any case, we do need big renovations to the ways the government estimates what's going on in the economy to make them more, not less, accurate.
BREAKING: A total of 211 members of Congress voted to block the release of Epstein files.
Here are the names:
Aderholt
Alford
Allen
Amodei (NV)
Arrington
Babin
Bacon
Baird
Balderson
Barr
Barrett
Baumgartner
Bean (FL)
Begich
Bentz
Bergman
Bice
Biggs (AZ)
Biggs (SC)
Bilirakis
Boebert
Bost
Brecheen
Bresnahan
Buchanan
Burchett
Burlison
Calvert
Cammack
Carey
Carter (TX)
Ciscomani
Cline
Cloud
Clyde
Cole
Collins
Comer
Crane
Crank
Crawford
Crenshaw
Davidson
DesJarlais
Diaz-Balart
Donalds
Downing
Dunn (FL)
Edwards
Ellzey
Emmer
Estes
Evans (CO)
Ezell
Fallon
Fedorchak
Feenstra
Fine
Finstad
Fischbach
Fitzgerald
Fitzpatrick
Fleischmann
Flood
Fong
Foxx
Franklin, Scott
Fry
Fulcher
Garbarino
Gill (TX)
Gimenez
Goldman (TX)
Gonzales, Tony
Gooden
Gosar
Graves
Greene (GA)
Griffith
Grothman
Guest
Guthrie
Hageman
Hamadeh (AZ)
Haridopolos
Harrigan
Harris (MD)
Harris (NC)
Harshbarger
Hern (OK)
Higgins (LA)
Hill (AR)
Hinson
Houchin
Hudson
Huizenga
Hurd (CO)
Issa
Jack
Jackson (TX)
James
Johnson (LA)
Johnson (SD)
Jordan
Joyce (OH)
Joyce (PA)
Kean
Kelly (MS)
Kelly (PA)
Kennedy (UT)
Kiggans (VA)
Kiley (CA)
Kim
Knott
Kustoff
LaHood
LaLota
LaMalfa
Langworthy
Latta
Lawler
Lee (FL)
Letlow
Lucas
Luna
Mace
Mackenzie
Malliotakis
Maloy
Mann
Mast
McClain
McClintock
McCormick
McDowell
McGuire
Messmer
Meuser
Miller (IL)
Miller (OH)
Miller (WV)
Miller-Meeks
Mills
Moolenaar
Moore (AL)
Moore (NC)
Moore (UT)
Moore (WV)
Moran
Murphy
Nehls
Newhouse
Norman
Nunn (IA)
Obernolte
Onder
Owens
Palmer
Patronis
Perry
Pfluger
Reschenthaler
Rogers (AL)
Rogers (KY)
Rose
Rouzer
Roy
Rulli
Rutherford
Salazar
Scalise
Schmidt
Schweikert
Scott, Austin
Self
Sessions
Shreve
Simpson
Smith (MO)
Smith (NE)
Smith (NJ)
Smucker
Spartz
Stauber
Stefanik
Steil
Steube
Strong
Stutzman
Taylor
Tenney
Thompson (PA)
Tiffany
Timmons
Turner (OH)
Valadao
Van Drew
Van Duyne
Van Orden
Wagner
Walberg
Weber (TX)
Webster (FL)
Westerman
Wied
Williams (TX)
Wilson (SC)
Wittman
Womack
Yakym
Zinke
HOLY SH*T 🚨 D.O.G.E. reveals the Department of Treasury was spending around $5 TRILLION a year without any "budget codes"
"They were basically partying on taxpayer money”
I WANT A REFUND IMMEDIATELY
California resident shows it cost $608 to register her 5 year old car in California
Paying the government to register your car every year is theft
Imagine if you bought a laptop one year and then had to pay the government every year to use it. It’s the same thing. It’s a scam
JUST IN: In a recent press conference, Fed Chair Jerome Powell was asked about the so-called “Fed put” for the stock market....whether the Federal Reserve would step in to support stocks if they plummeted.
Powell’s response: "I'm going to say no, with an explanation..."
Analysis: Powell's direct refusal to acknowledge a "Fed put" is a critical signal that the Federal Reserve is not committed to propping up the stock market. The idea of the Fed put implies that the central bank would intervene to prevent major market declines, which has often been seen in the past...especially in response to crashes or crises.
Powell's statement suggests that the Fed will prioritize its mandate...controlling inflation and supporting long-term economic stability....over trying to cushion the stock market’s short-term movements.
What this means for investors: The days of assuming that the Fed will swoop in to bail out markets may be over. This could make for a more volatile market going forward, with investors having to contend with the reality that interest rates and monetary policy will be the driving forces, not stock market levels.
Powell is sending a clear message that the Fed’s primary focus is on inflation control and economic health, not on creating a safety net for equity markets.
BREAKING: Senator Elizabeth Warren has sent a letter to Trump to establish "conflict of interest" rules for Elon Musk given he is a top adviser, per WaPo
In response, Trump's team called her "Pocahontas," and said that Warren was a "career politician whose societal impact is 1/1024th of Elon Musk's," per BI.
BREAKING: NYC Mayor Eric Adams just slammed Biden and Kamala over the $6.4B migrant crisis, saying:
“They hurt the future of New York City… the crimes that we’ve witnessed… We ALL should be angry at what happened to our city under this administration.”
The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER. We require a commitment from these Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty U.S. Dollar or, they will face 100% Tariffs, and should expect to say goodbye to selling into the wonderful U.S. Economy. They can go find another “sucker!” There is no chance that the BRICS will replace the U.S. Dollar in International Trade, and any Country that tries should wave goodbye to America.
This is one of those situations when you lost but still won. I’m grateful for last night. No regrets to get in ring one last time.
I almost died in June. Had 8 blood transfusions. Lost half my blood and 25lbs in hospital and had to fight to get healthy to fight so I won.
To have my children see me stand toe to toe and finish 8 rounds with a talented fighter half my age in front of a packed Dallas Cowboy stadium is an experience that no man has the right to ask for. Thank you 🙏
#PaulTyson
This is the kind of inflammatory poison that divides our nation and inspires assassins. It’s particularly ironic since Biden/Harris have just pushed through DoD Directive 5240.01 giving the Pentagon power — for the first time in history — to use lethal force to kill Americans on U.S. soil who protest government policies. If you want to understand a politician, the words from her mouth have little relevance. Look at her feet.