Economic News

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Fed governor to resign early, handing Trump immediate opening on board​

Adriana Kugler’s successor could ultimately replace Powell as Federal Reserve chair next year.


“… Though governors are appointed to staggered 14-year terms, it’s common for them to leave early. Still, the timing of Kugler’s departure hands Trump the chance to install a new voice about six months before he otherwise might have been able to.

Powell’s tenure as chair expires in May, although he can remain on the Fed as a governor until early 2028. Trump’s selection for Kugler’s seat would be in position to step into the top job.”
 
1moretimeagain said:
Small impact. Over the past 6 months, the federal workforce has declined by 84,000. For the month of July alone, the number was negative 12k.
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1moretimeagain said:
Small impact. Over the past 6 months, the federal workforce has declined by 84,000. For the month of July alone, the number was negative 12k.
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I was wondering if it was a more targeted problem...........like a specific agency was hit hard by DODGE cuts which caused problems for that agency getting numbers up to the BLS. (and might have affected their accuracy)
 
nycfan said:
FLASHBACK 2020:

Trump on coronavirus: ‘If we stop testing right now, we’d have very few cases, if any’​


thehill.com

Trump on coronavirus: ‘If we stop testing right now, we’d have very few cases, if any’

President Trump on Monday downplayed concerns of a rising number of coronavirus cases in states across the country, indicating that the increase was due to more testing.”If we stop testing ri…
thehill.com

——
Seems like he is recycling this plan for unemployment and other economic data …

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The first thing we do, let's kill all the statisticians.
 
I wonder if anybody has decent estimates on how many employees out there still work "off the books"
 
OGtruthhurts said:
do you ever sleep nycfan?
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I sleep deeply and then sometimes wake up for a while and then sleep deeply again. My husband has started to be an early to bed guy. Sometimes I read or watch a ballgame until 11:30 or midnight and then sleep through the night until about 7 or 7:30, others I go to sleep when he does (so about 9:30) but then often wake up for an hour to 90 minutes around 2:30-3 am, then go back to sleep until 7 or 7:30.
 
nycfan said:
I sleep deeply and then sometimes wake up for a while and then sleep deeply again. My husband has started to be an early to bed guy. Sometimes I read or watch a ballgame until 11:30 or midnight and then sleep through the night until about 7 or 7:30, others I go to sleep when he does (so about 9:30) but then often wake up for an hour to 90 minutes around 2:30-3 am, then go back to sleep until 7 or 7:30.
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you are an impressive machine
 


“… For a typical house to become affordable to a buyer, the 30-year mortgage rate would need to drop to an “unrealistic” 4.43%, according to a recent report by the real-estate platform Zillow….The last time the 30-year rate was at that level was in March 2022.

… The other option to make housing more affordable is for home prices to fall.

But that’s equally unrealistic, according to Zillow. “If rates and other factors held steady, home values would need to drop 18% for the typical home to be affordable for a median-income family,” the company said.

And falling home prices is not necessarily a positive trend.…”
 
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Seems like post-COVID required some major adjustments to how numbers were being reported more slowly and sort of normalized in 2023 with a bias to overstating results in initial estimates.
 
All is good in the world.

After years of being fucked by Equifax and the credit reporting agencies and American express, because in 1993 identity theft wasn't as well known and they all basically didn't care, I'm finally made whole from Equifax not doing their due diligence to protect everyone's credit information. Yes, the information that they gather without consent and make a fortune off of. I got that big check today, can't wait to spend it. I might be able to get lunch with the $7.50.
 
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