Reform’s rhetoric has already shifted to mass deportations - nothing the government do will on immigration will ever be enough. That’s the whole point. Conceding that they are directionally correct is to give up the argument. And the stakes of that argument today are enthonationists in the streets.

"JUSTICE WILL PREVAIL IN THE PECAN MARKET" hell yeah brother

This is a great column but this para in particular struck me as correct - institutions like the Federal Reserve operate independently as a wilful check on other branches with a limited mandate set by elected lawmakers. It’s a question of demonstrating good governance

Following exodus of attorneys from the Office of Chief Counsel, IRS has opened hiring for more than 60 positions in areas such as international tax and litigation support, reports Tax Notes. The office has lost about 13 percent of its workforce this year.

Lots to agree with here but I don't really think it's clear that we can easily square softening UK labour market w/ economy running at/near full capacity. Still think there is room for the government to borrow to fund investment, as it has done, but need to show that they can use tax levers as well.

Restricting H1-Bs and tariffing solar panels are, in particular, so comically stupid that when you hear them you should find an economist to give a hug.

How is it basically scarf weather already

this exists it is called thinking

Stowe Vermont

Just reminding everyone that all my tweets are actually "headlines" for longer and more nuanced analysis that I have written in the past or might write in the future, you're not allowed to criticize me unless you have found and read everything else I've ever done.

Opinion: The Federal Reserve's task looks like it is becoming more difficult as the emerging stagflationary picture becomes harder to ignore. Can looser monetary policy increase job growth without pushing prices higher? Sign up for Unhedged: Chart of the Week for free: on.ft.com/46jJqlU

Well well Cc @smtuffy.bsky.social

Bill Nelson ups the level of how nerdy and niche Fed analysis can be, and I love it

I feel like if you bought an internet connected refrigerator with screens, you deserve this

My mom asked me some of my favorite authors and then casually painted most of them in the last week 🤯

Stephen Miran and the “third mandate”. Very interesting piece on what this might mean for bond markets. It sounds to me like the admin pre-arming itself so it can do a bunch of inflationary stuff and then suppress the market reaction. Long-term bad imo. www.bloomberg.com/news/article...

Cristhian Mosquera. I would follow you into war, amigo. What a performance from him again.

Food for thought! "The causal effect of inflation on financial stability, evidence from history" by Ugo Albertazzi, James ’t Hooft, and Lucas Ter Steege. "Our analysis demonstrates that rises in inflation cause financial instability" www.ecb.europa.eu/pub/pdf/scpwps/ecb.wp3108~6e2f292534.en.pdf

Heard someone say this recently and I could hardly believe it. Staggering

Lisa Cook can stay at Federal Reserve ahead of rates decision, appeals court rules - on.ft.com/3IocYXC via @FT

After jumping the gun the other day, now we can celebrate

After jumping the gun the other day, now we can celebrate

Sundays are for answering text messages on the couch and bargaining with your creator

I’m not the first person to make this observation, but this being the biggest story in the world at present really speaks to how much Twitter still serves as a universal assignments editor for English-language journalists.

My commute this morning...

Jumped the gun on free market day didn't I. Been one of those mornings

Getting removed from the train cars now....

Approaching an hour...

Been stuck in the great northern, not moving for almost 30 minutes 😑😑😑

Finally got around to reading this and it makes a good case. Both a big progrowth idea and very practical.

Why tube strikes can improve commutes www.londoncentric.media/p/london-und...

Tariffs are driving up costs across the supply chain at about half the rate that we saw during the post-pandemic surge in inflation.

Getting ready for von der Leyen’s speech today

What Does the Faltering Econ Job Market Mean? www.global-developments.org/p/twilight-o...

Hi, I have an idea for an Alphaville post, but need some help. What is your absolute favourite financial or economic paper? Can you write a pithy paragraph saying why you love/rate/hate it, why it matters etc, and send it to me [email protected]?

Lisa Cook cannot be removed for reasons unrelated to her official work and because the “for cause” statutory protection creates a property interest, due process is required.

Finally. Just need group chats and we'll be all set.

Central banks do actually seem to now have more gold than USTs, though we can't be completely sure. on.ft.com/46dMhN6

Judge rules Donald Trump cannot fire Federal Reserve’s Lisa Cook for now - on.ft.com/45XMi9e via @FT

I'm sorry to be that guy, but Pynchon is dazzling. Can't believe I waited so long to read another of his.

British economic sentiment is following the US in becoming an increasingly partisan signal. There has been a red-blue sentiment gap for decades, but it’s widening (data: @ipsosintheuk.bsky.social / @keiranpedley.bsky.social)

@skandaamarnath.bsky.social and I have a piece out about Stephen Miran, who is being considered for the Fed Board, and some of his concerning views around debt default, dollar policy, and fed independence. Some was covered at the hearing, but there's more... www.employamerica.org/monetary-pol...

It's just been a brutal several years for German GDP growth—they're the only EU member state whose economy is still smaller than before the pandemic

There is no ending the housing crisis without fast, reliable, and frequent transit. It’s not possible. The commitment to removing barriers to housing production needs to be paired with commitments to fund transit operations.

It's incredibly weird that folks have convinced themselves that the Covid vaccines - which had an ~82^% take up rate - were unpopular.