How's this for an endorsement:
At the annual shareholder meeting, Warren Buffett urged people to buy Trillion Dollar Triage, my book about the economic-policy response to the Covid shock.
"It's a marvelous account of what took place."
Order your copy: nicktimiraos.com
Import prices have held steady, suggesting foreign suppliers aren't cutting prices to offset tariff costs for US customers.
A Goldman Sachs analysis concluded that foreign firms, especially in China, appear to be absorbing around 20% of tariff costs
wsj.com/economy/trade/…
Trump on his meeting with Powell: "He said to me very strongly, 'The country is doing well.' He said, 'Congratulations, the country is doing really well.' And I got that to mean that I think he's going to start recommending lower rates." wsj.com/livecoverage/s…
Former Sen. Pat Toomey on GOP demands for the Fed, including Powell's successor, to set rates based on what the president demands:
“It’s a very dangerous thing.”
"I don’t think what he wants makes sense" and isn't even in his political interest.
wsj.com/economy/centra…
Donning white hard hats for their tour of the Fed’s construction site, President Trump and Fed Chair Powell almost began squabbling over the cost of the central bank’s renovations of two historic buildings.
It’s hardly their biggest disagreement wsj.com/economy/centra…
Trump is asked again by a reporter why he doesn't just try to replace Powell before his term ends:
"To do that is a big move and I don’t think that it’s necessary."
"I believe the chairman is going to do the right thing."
Trump is asked again by a reporter why he doesn't just try to replace Powell before his term ends:
"To do that is a big move and I don’t think that it’s necessary."
"I believe the chairman is going to do the right thing."
Trump on whether he thinks the Fed's cost overruns could be grounds to remove Powell: “I don’t want to put that in this category.”
The costs "got out of control, and that happens."
During an awkward exchange inside the Fed's very much under-construction headquarters, Trump playfully smacked Fed Chair Jay Powell while saying, "I’d love him to lower interest rates."
The two also disagreed over how to account for the building project. Trump said it cost $3.1…
During an awkward exchange inside the Fed's very much under-construction headquarters, Trump playfully smacked Fed Chair Jay Powell while saying, "I’d love him to lower interest rates."
The two also disagreed over how to account for the building project. Trump said it cost $3.1…
The ECB's 2012 construction of its headquarters ($2.2 billion in today's dollars) also saw cost overruns due to unforeseen construction challenges. From Bloomberg: bloomberg.com/news/articles/…
The Federal Reserve’s headquarters renovation was ambitious from the start: refurbish and modernize two stately, nearly-century-old buildings in an iconic district of a major city. Then it hit the swamp.
wsj.com/economy/centra…
President Trump will visit the Federal Reserve on Thursday, joining White House aides on a previously arranged tour of the construction site where the central bank is renovating its headquarters wsj.com/economy/centra…
Initial claims for jobless benefits fell last week and are running below their year-earlier level. Continuing claims continue to point to a slightly less tight labor market compared to a year ago.
Trump is going to the Federal Reserve tomorrow, according to his schedule.
Only three presidents have visited the Fed. FDR when its HQ building opened in 1938, Ford when a buddy of his became a governor, and George W. Bush for the swearing in of Ben Bernanke.
The president says that if the Fed lowered short term rates, interest expenses for the U.S. would fall by $1 trillion per year.
The U.S. spent $1.1 trillion on interest expenses in 2024, and so there's almost no way this claim is remotely true.
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