In a post on Truth Social, President Trump said he would nominate Stephen Miran, the chairman of the Council of Economic Advisers, to fill out Adriana Kugler’s term on the Federal Reserve Board, which ends in January. But he said he would “continue to search for a permanent replacement.”

In 2012, I was the associate director at the Bureau of Economic Analysis (*not BLS*) and was responsible for preparing the estimates of gross domestic product. Mr. Hassett gets several things wrong here. (1/n) (Thread)

The US labor market is weakening. Is that due to lower supply or lower demand? Smart piece from @Claudia_Sahm who concludes: "Currently, the data suggest that reduced labor supply is likely the key driver though reduced demand is playing a role and the risk of cyclical weakening in the labor market have risen." #jobs #economy

Data revisions are a normal, necessary part of trying to measure a $30 trillion economy in real time. They can also be jarring, especially for people who don't obsessively scrutinize every jobs report. So I dug into the how and why of revisions. A few big takeaways:

*SPECIAL ODD LOTS* @tracyalloway and I talked to former BLS Commissioner @BeachWW453 -- who was appointed by Trump in 2017 -- about Trump's firing of the BLS Chief, the politicization of economic data, and why and how labor data gets revised each month

So well put

If you haven't already, read @bencasselman on President Trump's firing of the official who oversees American jobs numbers.

We've noted this in various stories, but I think it's worth repeating: The big 818,000-job downward revision last year was announced *before* the election, in August. It got lots of media coverage, and came at a very inopportune time politically for Biden/Harris.

To better understand the implications Trump’s sacking of the BLS chief, @bencasselman asked a statistician who knows a thing or two about being penalised for truth telling: Greece’s Andreas Georgiou.

President Trump didn't like the jobs numbers, so he fired the person responsible for producing them. It's a move that has been tried before, by leaders of countries from Argentina to Greece to the Soviet Union. It rarely ends well. (Link at end of thread)