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 ...

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John Williams, president of the Federal Reserve Bank of New York, discussed the outlook for the labor market, inflation and interest rates during an interview. Here is a transcript. https://t.co/hQ8Me7ElgY ...

Data Accuracy & Integrity - Questions arise regarding the accuracy and potential manipulation of economic data released by the BLS (Bureau of Labor Statistics) and BBA, with historical instances of alleged political interference cited [3][4][18] - The variance in economic data has dramatically increased since the COVID-19 pandemic, leading to concerns about incompetence or partisanship in data reporting [4] - The speaker expresses a lack of trust in the reported economic numbers, suggesting investors share this sentiment [19][21] - The need for accurate data is emphasized to ensure appropriate decision-making, particularly by the Federal Reserve [5][23] Federal Reserve & Interest Rate Policy - The Fed's decisions are heavily influenced by economic data, and inaccuracies could lead to inappropriate interest rate policies [5][6] - It's argued that interest rates should be lower, potentially by 50 to 100 basis points, regardless of whether the reported data is accurate or flawed [6][9][11] - The speaker claims there's no evidence of tariff-related inflation, contradicting the Fed's stated concerns [7][10] Labor Market Dynamics - The speaker suggests that the influx of illegal immigrants distorts labor market data and creates a disconnect between different surveys [15][22] - The creation of 18 million jobs for American citizens and the loss of 13 million jobs for illegal aliens are highlighted [15] - Deportation of illegal aliens could lower the number of jobs needed per month to maintain the current unemployment rate, potentially dropping from 190,000 to 100,000 [16] Political Implications - The speaker defends President Trump's potential actions to "clean house" at the BLS, citing the need for reliable data [5] - Allegations of political manipulation of data during the Obama and Biden administrations are raised [3][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 ...

get straight to it. Joining us now, co-host of the Prof Markets podcast, Ed Ellen, staff writer for the New Yorker, Susan Glasser, and co-founder and director of economic policy at Veta Partners, Henrietta Trees. Henrietta, starting with you.The commissioner of labor statistics fired by the president in Trump's words for faking the jobs numbers and quote manipulating them for political purposes. Let's just fact check that. This is offensive in the extreme.um when we traffic in economic circles. I mean I spe ...

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Diane, h how much does this change the picture? Uh especially these revisions as Bostik was mentioning there. Um you think the Fed would have made a different decision if if these numbers had been out days ago. >> I'm not sure they would have made a different decision on the month of July, but I think this does nudge them obviously closer to September. It's still not a slam dunk. This is the hard part for the Fed. The important part for Bostic is he didn't say, "Hey, this is it. we're gonna cut now because ...

Economic Slowdown & Job Market - US economy's job growth has slowed, with an average of 85,000 jobs added per month this year, compared to 168,000 jobs per month last year [2] - The report indicates deepening cracks in the US economy, with businesses putting expansion plans on hold due to economic uncertainty [4] - Potential US economic growth has shifted down due to changes in the labor force [9] Impact of Tariffs & Trade Policies - Tariffs are slowing job growth and economic growth [3] - Tariffs are expected to increase prices over time, impacting consumers [22] - Deportation policies are having an effect on the labor markets [5] - Tariffs on products from countries like Canada (originally 25% to 35%) and Switzerland (39%) could impact various sectors, including lumber, cars, and medicines [18][19] - Tariffs on Brazilian products, such as beef (50%), could be felt by consumers [21] Inflation & Consumer Spending - There is a possibility of stagflation, where growth slows (currently at about 12% to 2% annual rate) and inflation picks up closer to 3% rather than 2% [6] - Consumer spending growth is half of what it was a year ago, indicating concern among American consumers [16] - Tariffs are raising costs on everyday products, impacting back-to-school, Thanksgiving, and Christmas shopping [12] White House Perspective - The White House is nervous about the economic situation and is preaching patience [17] - The current economy is producing half as many new jobs as the "Biden economy" did in 2024 [14]

imprint for certain. >> Welcome back. Sizable miss for jobs this morning coming in at 73,000 in July with sharp downward revisions.That might be the bigger story for May and June. President Trump lashing out at Fed Chair Jay Powell on Truth Social. Of course, after the report telling him to drop the rate.Joining us now exclusively is Atlanta Fed President Raphael Bostic, along with our own Steve Liesman. Good morning Steve. >> Good morning Sara.Let's get right to President Bostic. Good morning, President Bo ...