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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 · 10h

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 · 2d

*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 · 3d

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 · 4d

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 · 5d

#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 · 5d

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

Bloomberg Opinion @opinion.bloomberg.com · 5d

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 · 6d

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 · 7d

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 · 7d

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 · 7d

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 · 7d

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 · 7d

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 · 7d

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 · 9d

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 · 9d

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.

Michael McKee @mckonomy.bsky.social · 10d

It's
The
Guns

Michael McKee @mckonomy.bsky.social · 11d

This is UFB:

A deranged Trump tweet arguing MSFT should fire one of his perceived enemies for things he has just made up

Michael McKee @mckonomy.bsky.social · 12d

Donald J. Trump: JUSTICE IN AMERICA! One of the worst human beings this Country has ever been exposed to is James Comey 2/2

Michael McKee @mckonomy.bsky.social · 12d

How does Comey get a fair, impartial jury? This is just one half-hour of tweets:

Donald J. Trump: JAMES COMEY IS A DIRTY COP.
Donald J. Trump: Whether you like Corrupt James Comey or not, and I can’t imagine too many people liking him, HE LIED! 1/2

Michael McKee @mckonomy.bsky.social · 12d

*CANADA'S CARNEY: WE'RE LIVING THROUGH RUPTURE, NOT A TRANSITION

Good way to put it

Michael McKee @mckonomy.bsky.social · 12d

Questions about the #Fed? We have a few... @richmondfed.bsky.social President Tom Barkin joins me on @bloombergtv.bsky.social and radio at 7:30 am EDT!

Michael McKee @mckonomy.bsky.social · 13d

Can they just drop it off at the nearest Whole Foods?

Ivan the K ™☑️ @ivanthek.bsky.social · 13d

They have two days to deliver the fine.

Carl Quintanilla @carlquintanilla.bsky.social · 13d

SEATTLE (AP) - Amazon to pay $2.5 billion to settle FTC allegations it duped customers into enrolling in its Prime membership program.

$AMZN

Michael McKee @mckonomy.bsky.social · 13d

Paul Krugman, Lev Menand, Barry Nalebuff, Jeremy Stein, Michael Strain, Michael Woodford.
Goldin, Hart, Johnson, and Krugman are Nobel laureates. 2/2

Michael McKee @mckonomy.bsky.social · 13d

Another #Fed Cook amicus brief from distinguished economics and law professors. It reads like a Fed Jackson Hole invitation list: Judith Chevalier, John Coates, Darrell Duffie, Claudia Goldin, Jeffrey Gordon, Oliver Hart, Simon Johnson, Kathryn Judge, 1/2

Michael McKee @mckonomy.bsky.social · 13d

Cook asks the Court to reject Trump's request for a stay of the lower court's injunction against filing her, and asks the Court to send the case back to lower courts, rather than deciding the meaning of "for cause" now. 4/4