This is a useful story by Bloomberg news. President Trump is attacking the credibility of U.S. economic data after last week’s soft jobs report, calling it rigged because of downward revisions to payroll data. Pay attention to the consumer price index release next week. It’s produced by the same Bureau of Labor Statistics agency that…
Month: August 2025
LOOKING GLASS ECONOMICS: What’s going down with long-term interest rates?
Yields on 10-year Treasury notes rose 0.85 percentage points during the three months last year when the Federal Reserve cut short-term interest rates by a full percentage point. In the seven+ months since the Fed stopped reducing short-term interest rates, yields on 10-year Treasury notes have dropped about a quarter percentage point. Conventional thinking goes…