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Wharton's Jeremy Siegel: There would've been a July rate cut had we known about the weak jobs data
CNBC Television· 2025-08-04 12:39
Let's bring in Jeremy Seagull, professor emmeritus of finance uh at University of Pennsylvania's Wharton School of Business and chief economist at Wisdom Wisdom Tree. I think you're Jeremy Professor, your ship's coming in. Uh the economy has been weaker than than people thought, I think.Yeah. Yeah. And first of all, I'm not going to let the BLS off the hook.I mean, you know, you talk about how to fix it. you know, make these questionnaires mandatory and give them a time limit to fill it out. Um, you know, I ...
Fmr. Acting Labor Secretary: Firing of BLS head puts the integrity of our statistical system at risk
CNBC Television· 2025-08-04 11:54
>> For imprint for certain. >> So President Trump fired the head of the Bureau of Labor Statistics after a worse than expected jobs report and some big revisions that came along with it. Joining us right now is former acting labor secretary under President Obama, Seth Harris, and the former acting white House chief of staff under President Trump, Mick Mulvaney.He's the co-chair of the strategic advisors. Gentlemen, welcome to both of you. This is something that people spend a lot of time thinking about and ...
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Bloomberg· 2025-08-04 09:14
Worse-than-expected jobs numbers and weak consumer spending data highlight a US economy that's flashing some warning signs https://t.co/Ajrt41LCkw ...
Sen. Alex Padilla calls for an investigation into Trump’s firing of BLS chief: Full interview
NBC News· 2025-08-03 16:56
Economy & Labor Statistics - The independence of the Bureau of Labor Statistics (BLS) from political pressure is crucial for reliably reporting job numbers [1] - An investigation into the firing of the BLS commissioner is warranted, considering potential weaponization of the agency [1] - Tariffs are impacting working families across the country, costing them $2400 per year [1] Immigration Policy - The focus should be on modernizing immigration programs and addressing the situation of long-term undocumented residents [1] - Concerns exist regarding the arrest, detention, and deportation policies targeting individuals who are critical to the economy and do not have violent criminal convictions [1] Redistricting & Political Strategy - Republicans are accused of trying to "rig the system" through redistricting to maintain power [1] - California may respond to Texas' redistricting with its own map to boost Democratic seats [1] - The ideal scenario is for Texas to stand down from redistricting efforts [2] Democratic Party Dynamics - There are internal clashes within the Democratic party regarding support for bills funding police departments [5][6] - The Trump administration is accused of withholding funds from Democratic states and cities [8] - Kamala Harris' decision not to run for California governor in 2028 leaves the door open for a potential presidential run [9][10] International Affairs - The situation in Gaza is a humanitarian crisis, and Israel needs to do more to address it [16] - The US should focus on the humanitarian piece and move policy and investments accordingly [18] - Israel faces constant threats from Hamas, Hezbollah, the Houthis, and Iran [18]
Kevin Hassett says Trump tariffs ‘are the final deals’ despite market backlash: Full interview
NBC News· 2025-08-03 16:56
And joining me now is the director of the White House National Economic Council, Kevin Hasset. Mr.. Hasset, welcome to Meet the Press. >> Great to be here. Thank you. >> It's great to have you here. Let's start with President Trump's decision to fire the head of the Bureau of Labor Statistics, Erica McInterer, who he accused of manipulating job numbers. Mr.. Hasset, what evidence does the administration have that she manipulated the jobs numbers? >> Right. Well, what we've seen over the last few years is uh ...
X @Bloomberg
Bloomberg· 2025-08-03 06:20
The man behind the Covid furlough scheme says a mistake cost the UK billions. Even worse, the pandemic response is still hurting the economy https://t.co/q7rIC0UVHn ...
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Bloomberg· 2025-08-02 12:05
It’s hard to overstate the perils that await the economy following President Donald Trump's decision to fire the head of the Bureau of Labor Statistics, says @keds_economist (via @opinion) https://t.co/zRj6B2skpL ...
Are There Any Concerns Over Fed Gov. Kugler's Resignation?
Bloomberg Television· 2025-08-01 22:18
What's your reaction to Governor Coogler's decision here and how concerned are you about who might replace him. I've just seen the headlines, so I am I am learning information real time, whether this was a personal choice or whether there was a feeling of a political pressure. And I'm almost, you know, hesitant to even even weigh in because I don't have the information.Anything, though, that I just as a as a overarching point, anything that makes this fed more political, that robs it of its independence is ...
X @The Economist
The Economist· 2025-08-01 20:20
An uncomfortable dynamic has set in: because investors think that Donald Trump will eventually chicken out, they are emboldening him to press ahead. As he does so, however, the long-term costs to the economy will mount https://t.co/sQLj0qJWxY ...
Gary Cohn: Snapshot of the economy looks good, but there are warnings below the surface
CNBC Television· 2025-07-30 16:04
Economic Overview - The economy presents a strong headline snapshot, but closer inspection reveals concerning underlying data [1][2] - GDP reading shows 3%, largely a reversal from the first quarter [1] - The economy is basically at full employment, satisfying one of the Fed's dual mandates [1] Consumer Spending & Investment - Consumer spending is described as "okay" rather than strong [1] - Investment number was down 15% [1] - Consumer-driven companies are not having robust quarters, indicating consumers are feeling the pinch [9] Labor Market - Jolt data indicates a loss of 280,000 jobs in the system [1] - There were 260,000 less hires last month [1] - 150,000 less people quit their jobs, suggesting a less optimistic view of the economy [1] Inflation & Pricing - PCE and CPI numbers were warm, slightly higher than expected, but within an acceptable range [1] - Import numbers offset each other, from -4.7% to +5% [1] - Costs will ultimately be passed down to the consumer, as companies will not decrease their profit margins [4][5] Company Performance Indicators - UPS is a good indicator of e-commerce activity and last-mile delivery performance [8][11] - Starbucks numbers reflect consumer discretionary spending [8] - Whirlpool numbers indicate consumer willingness to upgrade appliances [9]