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Michael McKee

@mckonomy.bsky.social

5.3K followers 1.7K following 10K posts

International economics and policy for Bloomberg. And some snark Usually 35,000 feet above somewhere ✈️

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Michael McKee @mckonomy.bsky.social · 5h

Every post about college football this year must begin with "Wait...whut?"

Michael McKee @mckonomy.bsky.social · 1d

Trump responds decisively to China's new rare earths trade restrictions by raising import taxes on American companies and consumers.

Michael McKee @mckonomy.bsky.social · 1d

*TRUMP BUDGET CHIEF VOUGHT SAYS LAYOFFS HAVE BEGUN

Just another, another AYFKM day

Michael McKee @mckonomy.bsky.social · 1d

I have no words.
Just another AYFKM day in the United States.

Michael McKee @mckonomy.bsky.social · 1d

Lost in all the news this morning is the fact that it was a very bad night in Philadelphia.

Michael McKee @mckonomy.bsky.social · 2d

Two hours in Trump-Land:

*HAMAS NEGOTIATING CHIEF ANNOUNCES DEAL TO END WAR WITH ISRAEL

*US TREASURY INTERVENED IN ARGENTINA FX MARKETS ON THURSDAY

*NEW YORK AG LETITIA JAMES INDICTED BY DOJ: CNN, AP

Michael McKee @mckonomy.bsky.social · 2d

*HAMAS NEGOTIATING CHIEF ANNOUNCES DEAL TO END WAR WITH ISRAEL

Michael McKee @mckonomy.bsky.social · 2d

Fed Governor:
*BARR: PEOPLE WORKING ON DATA AT BLS ARE 'QUIET HEROES'

Michael McKee @mckonomy.bsky.social · 2d

It would save us all a lot of time if we didn't have to fact-check his false statements. Just note the couple of things he says that might be true.

Michael McKee @mckonomy.bsky.social · 2d

Timely reminder that central bank decision-making isn't easy in today's economic environment. From @economistmeg.bsky.social on.ft.com/48mTUnb

Central banks need to learn lessons about supply shocks

We now know that the inflation that often follows can be persistent rather than transitory

Michael McKee @mckonomy.bsky.social · 3d

Ghosts of 1999, 2007:
Last month #Fed's Powell said: “equity prices are fairly highly valued” and today the #BOE Financial Policy Committee warned "On a number of measures, equity market valuations appear stretched, particularly for technology companies focused on Artificial Intelligence (AI)."

Michael McKee @mckonomy.bsky.social · 5d

*TRUMP TO HOST CABINET MEETING ON THURSDAY, LEAVITT SAYS

No word on whether this is a tuneup meeting, or an attempt to break the 3hr, 16m record he set last time.

Michael McKee @mckonomy.bsky.social · 7d

College football NIL payments have leveled the playing field. The great teams are now just the very good. The not-so-good are okay and can pull off upsets. Which happened big time today.

Michael McKee @mckonomy.bsky.social · 7d

Was just thinking people who work at Intercontinental Exchange in Chicago might not want to be wearing company-logo clothing this week....

Michael McKee @mckonomy.bsky.social · 8d

#Fed's Stephen Miran tells me on @bloombergtv.bsky.social that if service price inflation rises, "the benign inflation forecast that I have would have to be adjusted as a result.” Then ISM reported services prices rose.
Also says his dot plot isn't much different than others except for this year.

Michael McKee @mckonomy.bsky.social · 8d

A well-argued pushback against the conventional wisdom, and that which goes (far) beyond conventional...

Bloomberg Opinion @opinion.bloomberg.com · 8d

The Fed has plenty of reasons to worry, but not enough to cut interest rates.

Maybe the Fed Shouldn’t Be Cutting Interest Rates

When the outlook is this uncertain, acting pre-emptively can be a big mistake.

Michael McKee @mckonomy.bsky.social · 9d

It is important to keep in mind that the president has the ability to fire federal workers at any time (providing proper procedures are followed). So the government shutdown would be an excuse, not a reason for any job cuts. And since it's Russ Vought, they likely would have happened in any case.

Michael McKee @mckonomy.bsky.social · 10d

Trump loses the Lisa Cook case for now. Supreme Court "defers" a judgement on his request to be able to fire her now, while her case goes through the justice system.

Michael McKee @mckonomy.bsky.social · 10d

BUT... ADP says it used most recent QCEW figures to rebenchmark its figures. So September was revised down by 43,000. Accounts for part of the August revision as well. Very confusing.

Michael McKee @mckonomy.bsky.social · 10d

Rut-roh. ADP says the economy lost 32,000 private-sector jobs in September. August revised down from +54,000 to -3000.
ADP measures only private sector employment. But that's what the Fed is focused on. Possibility of no NFP on Friday raises the import of ADP this week.

Michael McKee @mckonomy.bsky.social · 10d

Biggest waste of time: interviewing members of Congress on the government shutdown. Republicans are blaming Democrats. Democrats are blaming Republicans (and Trump). Nobody - nobody - is saying what should be done.

Michael McKee @mckonomy.bsky.social · 10d

All of the Bears Were Fat, but Chunk Was the Fattest of All www.nytimes.com/2025/09/30/s...

All of the Bears Were Fat, but Chunk Was the Fattest of All

www.nytimes.com

Michael McKee @mckonomy.bsky.social · 11d

We are there:

Memo from the Office of Management and Budget declaring the government will shut down at midnight EDT.

Michael McKee @mckonomy.bsky.social · 12d

It looks like Republican and Democratic leaders reached agreement at their White House meeting - on whom to blame for the government shutdown coming Wednesday. Each side has generously agreed to say it's the other party's fault.

Michael McKee @mckonomy.bsky.social · 12d

Trump's Gaza peace plan names him chair of the "Board of Peace" that will oversee the territory. A "Trump economic development plan" will guide rebuilding. Reporters should ask if he will commit that none of his relatives, associates, or companies will be involved in or profit from rebuilding Gaza.