Happy Friday.
It’s not a happy Friday on the economic news front.
Only 73,000 jobs were added to the US economy in July, and the numbers for May and June were revised down dramatically.
Trump fires Labor Official Trump fired the head of the Bureau of Labor Statistics (commissioner Erika McEntarfer, a Biden appointee).
Will that make the numbers look better, then? Will we believe the numbers?
Fed Governor Steps Down Early For a moment I thought Jerome Powell (Federal Reserve Bank Chair) is retiring early, but it’s a governor (one of seven members) of the Federal Reserve Board, Adriana D. Kugler, that is stepping down. Fed Chair Powell’s term expires in May 2026, but Trump seems determined to fire him or try to fire him, as well.