Chris Rugaber
@chrisrugaber.bsky.social
Federal Reserve, economy reporter. I root for the economy to do well. Tell me your stories: contact me on Signal at ChrisRugaber.01 and at [email protected].
Amazing story here -- Officials at Fannie Mae sounded alarm about potentially inappopriate data sharing by Trump appointees, got fired. @apnews.com:
apnews.com/article/fann...
apnews.com/article/fann...
Top Fannie Mae officials ousted after sounding alarm on sharing confidential housing data
A confidant of Bill Pulte, the Trump administration’s top housing regulator, provided confidential mortgage pricing data from Fannie Mae to a principal competitor.
apnews.com
November 14, 2025 at 3:48 PM
Amazing story here -- Officials at Fannie Mae sounded alarm about potentially inappopriate data sharing by Trump appointees, got fired. @apnews.com:
apnews.com/article/fann...
apnews.com/article/fann...
Reposted by Chris Rugaber
I cannot emphasize enough that increasing foreign investment in the US and shrinking US trade deficits are in direct, irreconcilable tension w/ one another.
*US TO LOWER TARIFF RATE ON SWISS GOODS TO 15%, GREER SAYS
*SWITZERLAND AGREED TO $200B INVESTMENT IN THE US, GREER SAYS
*US TO LOWER TARIFF RATE ON SWISS GOODS TO 15%, GREER SAYS
*SWITZERLAND AGREED TO $200B INVESTMENT IN THE US, GREER SAYS
November 14, 2025 at 1:56 PM
I cannot emphasize enough that increasing foreign investment in the US and shrinking US trade deficits are in direct, irreconcilable tension w/ one another.
*US TO LOWER TARIFF RATE ON SWISS GOODS TO 15%, GREER SAYS
*SWITZERLAND AGREED TO $200B INVESTMENT IN THE US, GREER SAYS
*US TO LOWER TARIFF RATE ON SWISS GOODS TO 15%, GREER SAYS
*SWITZERLAND AGREED TO $200B INVESTMENT IN THE US, GREER SAYS
St. Louis Fed's Musalem adds to chorus of caution about future Fed rate cuts in remarks just now:
"Going forward, I think we need to...tread with caution. ... there is limited room" for more cuts.
Says Fed's rate is "probably getting closer to neutral rather than modestly restrictive"
"Going forward, I think we need to...tread with caution. ... there is limited room" for more cuts.
Says Fed's rate is "probably getting closer to neutral rather than modestly restrictive"
November 13, 2025 at 6:59 PM
St. Louis Fed's Musalem adds to chorus of caution about future Fed rate cuts in remarks just now:
"Going forward, I think we need to...tread with caution. ... there is limited room" for more cuts.
Says Fed's rate is "probably getting closer to neutral rather than modestly restrictive"
"Going forward, I think we need to...tread with caution. ... there is limited room" for more cuts.
Says Fed's rate is "probably getting closer to neutral rather than modestly restrictive"
Boston Fed's Susan Collins is the latest Fed official to come out against another rate cut in December, putting a third cut this year at risk. Atlanta Fed's Bostic also forcefully spoke against another rate cut earlier Wednesday:
November 12, 2025 at 9:51 PM
Boston Fed's Susan Collins is the latest Fed official to come out against another rate cut in December, putting a third cut this year at risk. Atlanta Fed's Bostic also forcefully spoke against another rate cut earlier Wednesday:
Reposted by Chris Rugaber
Allow me to translate. October data was not collected as field staff were all furloughed. In some cases, that data can be recovered from businesses. In other cases, the window to collect the data has closed (consumer prices, labor force status) and the data hole may be permanent.
WHITE HOUSE: FEDERAL STATISTICAL SYSTEM MAY HAVE PERMANENTLY BEEN DAMAGED WHITE HOUSE: OCTOBER JOBS REPORTS LIKELY NEVER RELEASED
November 12, 2025 at 9:35 PM
Allow me to translate. October data was not collected as field staff were all furloughed. In some cases, that data can be recovered from businesses. In other cases, the window to collect the data has closed (consumer prices, labor force status) and the data hole may be permanent.
Atlanta Federal Reserve President Raphael Bostic to retire in Feb. 2026, opening spot on key Fed interest-rate setting committee.
Trump won't be able to name replacement -- successor to be chosen by Atlanta Fed's board. DC-based Fed board of governors will vote on replacement.
Trump won't be able to name replacement -- successor to be chosen by Atlanta Fed's board. DC-based Fed board of governors will vote on replacement.
November 12, 2025 at 3:01 PM
Atlanta Federal Reserve President Raphael Bostic to retire in Feb. 2026, opening spot on key Fed interest-rate setting committee.
Trump won't be able to name replacement -- successor to be chosen by Atlanta Fed's board. DC-based Fed board of governors will vote on replacement.
Trump won't be able to name replacement -- successor to be chosen by Atlanta Fed's board. DC-based Fed board of governors will vote on replacement.
Reposted by Chris Rugaber
“It’s an insider-outsider thing… where outsiders that need jobs are struggling to get their foot in, even as insiders are insulated by what up until now is a low-layoff environment.” - what I told @apnews.com ‘s @chrisrugaber.bsky.social
'No hire' job market leaves unemployed in limbo as threats to economy multiply
The unemployment rate is low and the economy is still growing, but those out of work face the slowest pace of hiring in more than a decade.
apnews.com
November 12, 2025 at 2:18 AM
“It’s an insider-outsider thing… where outsiders that need jobs are struggling to get their foot in, even as insiders are insulated by what up until now is a low-layoff environment.” - what I told @apnews.com ‘s @chrisrugaber.bsky.social
Reposted by Chris Rugaber
Trump trade war costs US Italian pasta: “Exporters say import and antidumping duties totaling 107% on their pasta brands will make doing business in America too costly and are preparing to pull out of U.S. stores as soon as January.” Via WSJ
Italian Pasta Is Poised to Disappear From American Grocery Shelves — The Wall Street Journal
Trump administration is set to impose duties of 107% on Italian pasta imports, among most punitive of tariffs it has levied
apple.news
November 10, 2025 at 12:12 PM
Trump trade war costs US Italian pasta: “Exporters say import and antidumping duties totaling 107% on their pasta brands will make doing business in America too costly and are preparing to pull out of U.S. stores as soon as January.” Via WSJ
Always nice to see the @apnews.com ahead …
November 10, 2025 at 3:00 PM
Always nice to see the @apnews.com ahead …
No jobs report today because of the government shutdown, but other reports suggest hiring remained weak last month.
The 'low hire' job market makes life difficult for the unemployed and is leading to longer spells of unemployment, which is unusual outside a recession:
apnews.com/article/jobs...
The 'low hire' job market makes life difficult for the unemployed and is leading to longer spells of unemployment, which is unusual outside a recession:
apnews.com/article/jobs...
'No hire' job market leaves unemployed in limbo as threats to economy multiply
The unemployment rate is low and the economy is still growing, but those out of work face the slowest pace of hiring in more than a decade.
apnews.com
November 7, 2025 at 1:49 PM
No jobs report today because of the government shutdown, but other reports suggest hiring remained weak last month.
The 'low hire' job market makes life difficult for the unemployed and is leading to longer spells of unemployment, which is unusual outside a recession:
apnews.com/article/jobs...
The 'low hire' job market makes life difficult for the unemployed and is leading to longer spells of unemployment, which is unusual outside a recession:
apnews.com/article/jobs...
Reposted by Chris Rugaber
The Trump administration alleges the boats targeted by recent U.S. strikes were being operated by narco-terrorists and cartel members. The AP identified four of the men who were on the boats—and found the truth is far more nuanced.
Trump has accused boat crews of being narco-terrorists. The truth, AP found, is more nuanced
One was a fisherman struggling to eke out a living on $100 a month. Another was a career criminal. A third was a former military cadet.
bit.ly
November 7, 2025 at 12:00 PM
The Trump administration alleges the boats targeted by recent U.S. strikes were being operated by narco-terrorists and cartel members. The AP identified four of the men who were on the boats—and found the truth is far more nuanced.
Reposted by Chris Rugaber
“This case, ladies and gentleman of the jury, is about a sandwich.”
Closing arguments from the defense in the DC sandwich guy case are now underway.
Closing arguments from the defense in the DC sandwich guy case are now underway.
November 5, 2025 at 6:57 PM
“This case, ladies and gentleman of the jury, is about a sandwich.”
Closing arguments from the defense in the DC sandwich guy case are now underway.
Closing arguments from the defense in the DC sandwich guy case are now underway.
ADP's jobs tally shows a rebound last month with 42,000 net jobs gained, after 2 months of losses.
Yet high-paying sectors like professional & business services (accounting, etc.) and information (IT) lost jobs; so did restaurants & hotels, a worrying sign of a weak consumer:
Yet high-paying sectors like professional & business services (accounting, etc.) and information (IT) lost jobs; so did restaurants & hotels, a worrying sign of a weak consumer:
November 5, 2025 at 2:30 PM
ADP's jobs tally shows a rebound last month with 42,000 net jobs gained, after 2 months of losses.
Yet high-paying sectors like professional & business services (accounting, etc.) and information (IT) lost jobs; so did restaurants & hotels, a worrying sign of a weak consumer:
Yet high-paying sectors like professional & business services (accounting, etc.) and information (IT) lost jobs; so did restaurants & hotels, a worrying sign of a weak consumer:
Reposted by Chris Rugaber
BREAKING: Democrat Aftab Pureval wins Cincinnati mayoral election over Cory Bowman, half-brother of Vice President JD Vance.
Follow AP for live updates.
Follow AP for live updates.
Live updates: US voters head to the polls in first general election since Trump's return to power
One year after Donald Trump retook the presidency, 2025 Election Day includes closely watched races for New York City mayor, New Jersey governor and California's Proposition 50.
bit.ly
November 5, 2025 at 1:19 AM
BREAKING: Democrat Aftab Pureval wins Cincinnati mayoral election over Cory Bowman, half-brother of Vice President JD Vance.
Follow AP for live updates.
Follow AP for live updates.
Reposted by Chris Rugaber
BREAKING: Democrat Ghazala Hashmi won the lieutenant governor’s race in Virginia on Tuesday, defeating Republican John Reid. She is the first Indian American and first Muslim to win statewide office in Virginia.
Follow AP for live updates.
Follow AP for live updates.
Live updates: US voters head to the polls in first general election since Trump's return to power
One year after Donald Trump retook the presidency, 2025 Election Day includes closely watched races for New York City mayor, New Jersey governor and California's Proposition 50.
bit.ly
November 5, 2025 at 1:34 AM
BREAKING: Democrat Ghazala Hashmi won the lieutenant governor’s race in Virginia on Tuesday, defeating Republican John Reid. She is the first Indian American and first Muslim to win statewide office in Virginia.
Follow AP for live updates.
Follow AP for live updates.
Reposted by Chris Rugaber
Read the November issue of Economic Compass by
Diane Swonk, chief economist at KPMG. She examines how on the one hand, the economy is booming, mostly on AI investment. On the other hand, the labor market is lagging, something that started this year. kpmg.com/us/en/articl...
Diane Swonk, chief economist at KPMG. She examines how on the one hand, the economy is booming, mostly on AI investment. On the other hand, the labor market is lagging, something that started this year. kpmg.com/us/en/articl...
Rising tide fails to lift all boats
A jobless boom
kpmg.com
November 4, 2025 at 9:52 PM
Read the November issue of Economic Compass by
Diane Swonk, chief economist at KPMG. She examines how on the one hand, the economy is booming, mostly on AI investment. On the other hand, the labor market is lagging, something that started this year. kpmg.com/us/en/articl...
Diane Swonk, chief economist at KPMG. She examines how on the one hand, the economy is booming, mostly on AI investment. On the other hand, the labor market is lagging, something that started this year. kpmg.com/us/en/articl...
The ISM's manufacturing report shows factory activity still declining in October, as production contracted. New orders did improve a bit. Employment also shrinking though less quickly, and prices moving up though not as fast as previous month:
November 3, 2025 at 3:14 PM
The ISM's manufacturing report shows factory activity still declining in October, as production contracted. New orders did improve a bit. Employment also shrinking though less quickly, and prices moving up though not as fast as previous month:
Goldman Sachs on the shutdown: “largest economic impact” of any shutdown
November 3, 2025 at 1:16 PM
Goldman Sachs on the shutdown: “largest economic impact” of any shutdown
Some takeaways from yesterday's Powell presser: The Fed is clearly being whipsawed by an economy all over the map. Are things getting better, or worse?
It's hard to tell for both inflation and hiring, particularly without government data. A 🧵
It's hard to tell for both inflation and hiring, particularly without government data. A 🧵
October 30, 2025 at 4:09 PM
Some takeaways from yesterday's Powell presser: The Fed is clearly being whipsawed by an economy all over the map. Are things getting better, or worse?
It's hard to tell for both inflation and hiring, particularly without government data. A 🧵
It's hard to tell for both inflation and hiring, particularly without government data. A 🧵
One takeaway from Powell: The new reluctance to cut in December is not necessarily out of fear of inflation, but to see if economy is doing better.
Powell: "For some part of the committee, it's time to maybe take a step back and see if whether there really are downside risks to the labor market."
Powell: "For some part of the committee, it's time to maybe take a step back and see if whether there really are downside risks to the labor market."
October 29, 2025 at 9:17 PM
One takeaway from Powell: The new reluctance to cut in December is not necessarily out of fear of inflation, but to see if economy is doing better.
Powell: "For some part of the committee, it's time to maybe take a step back and see if whether there really are downside risks to the labor market."
Powell: "For some part of the committee, it's time to maybe take a step back and see if whether there really are downside risks to the labor market."
Reposted by Chris Rugaber
I like @chrisrugaber.bsky.social 's question about whether AI investment boom reflects easy monetary policy; I'm surprised Powell didn't default to the dual mandate in his answer!
October 29, 2025 at 7:37 PM
I like @chrisrugaber.bsky.social 's question about whether AI investment boom reflects easy monetary policy; I'm surprised Powell didn't default to the dual mandate in his answer!
As always, it pays to track what Fed governor Chris Waller says -- his Oct. 16 speech foreshadowed that a December rate cut is not a done deal.
October 29, 2025 at 7:13 PM
As always, it pays to track what Fed governor Chris Waller says -- his Oct. 16 speech foreshadowed that a December rate cut is not a done deal.
Reposted by Chris Rugaber
“.. The cost to insure against default on the company debt over the next five years is hovering near its highest since Oct. 2023 ..”
@bloomberg.com $ORCL
www.bloomberg.com/news/article...
@bloomberg.com $ORCL
www.bloomberg.com/news/article...
October 29, 2025 at 1:47 PM
“.. The cost to insure against default on the company debt over the next five years is hovering near its highest since Oct. 2023 ..”
@bloomberg.com $ORCL
www.bloomberg.com/news/article...
@bloomberg.com $ORCL
www.bloomberg.com/news/article...