Joel Suss

Very worrying and not surprising that Trump is shooting the messenger. On the other hand he should be happy the very bad jobs figures make a Fed cut much more likely in Sept

on.ft.com/4odo0PD Donald Trump to fire US labour statistics boss after weak jobs report

Trump Craziness on the Fed The second quarter GDP report came in roughly in line with expectations.

The Trump gang lies like pros. You can say the economy is weak and therefore the Fed needs to cut rates, or that the economy is strong, therefore the Fed doesn't need to cut rates. Only a Trumper can say the economy is strong the Fed needs to cut rates substack.com/home/post/p-...

Inside the relentless race for AI capacity The quest for superintelligence is spurring a data centre boom — but critics question the cost, environmental impact and whether it is all needed

Amazing, comprehensive reporting here on the rush to build massive, energy-guzzling AI data centres 👇

ig.ft.com/ai-data-cent...

Backgammon may be New York’s new favourite game Whether it’s to play for $5 or $500, at a park or a members’ club, there’s a place to throw dice in the city

Lovely ode to my favourite game too

on.ft.com/40D9dne Backgammon may be New York’s new favourite game

Canadian maple syrup finds itself in a sticky tariff situation Production hit a record after a stretch of bad harvests but US tariffs threaten to change everything

Canadian maple syrup finds itself in a sticky tariff situation https://on.ft.com/4o96YSJ | opinion

There is no data release which would see not see Trump say the Fed should lower rates. GDP down: "LOWER RATES". GDP up: "LOWER RATES"

www.ft.com/content/1270...

Canadian maple syrup finds itself in a sticky tariff situation Production hit a record after a stretch of bad harvests but US tariffs threaten to change everything

Maple syrup is a good representation of both Canada’s economic dependence on the US — and its unique forms of leverage

I wrote about Canada's most iconic industry in the age of Trump 2.0 🍁

on.ft.com/41hwuLu

NEW: Heavily armed gangs control 95% of Haiti's capital and are expanding their campaign of murder, rape and extortion across the country. Better armed than the Haitian police, it is weapons smuggled from the US than have enabled their dominance. We tracked how Haitian gangs get their guns.

FT Editorial: "Unless the Israeli government agrees to an immediate end to the war and a surge of aid into Gaza, western countries should be sanctioning Netanyahu and his government." www.ft.com/content/69d5...

How Trump muddles the stock market Information overload may be contributing to the S&P 500’s resilience

"Flooding the zone can delay a reckoning — but it can’t prevent one."

on.ft.com/4l31XIq

US tariffs are now at the highest level since the 1930s. Great presentation of the data 👇

on.ft.com/3UyQ9Tv

Breaking news: Donald Trump’s administration has denied permission for Taiwan’s President Lai Ching-te to stop in New York en route to Central America, after China raised objections with Washington about the visit https://on.ft.com/4kXt3k7

Why are young adults in the English-speaking world so unhappy? Society sold the dream of home ownership — then cruelly snatched it away

Fantastic piece as usual from @jburnmurdoch.ft.com on growing malaise among young being potentially linked to housing crises

Fodder for more academic work, e.g. variation in happiness within country explained by housing price changes?

on.ft.com/4kTUHyA

The most important story in the world right now.

Remarks: Donald Trump Speaks to Reporters After a Federal Reserve Tour - July 24, 2025 Transcript and Analysis: https://f2.link/dt250724a Donald Trump speaks to reporters after touring the construction at the Federal Reserve in Washington on July…

What's remarkable in the Trump post-Fed visit press remarks is not only that Trump lied multiple times with no correction (ECB cut rates 11 times while Fed cut 0 times), but that no journalist asked about inflation when Trump again repeatedly said rates should fall

vimeo.com/1104287575?f...

‘Fiscal populism’ is coming for central banks When monetary policy is set to meet government budgetary needs, these institutions become piggy banks

Haldane: “High and rising fiscal debts and deficits, elevated long yields, declining debt maturities and populist politics are a recipe for rising pressure to be exerted on central banks to keep rates lower for longer”

on.ft.com/44S2y9W The threat to central banks from ‘fiscal populism’

First six months of Trump in six charts

on.ft.com/46OEBmn

On Feb. 15, José Manuel Ramos Bastidas called his wife from inside a Texas immigration detention facility.

He asked her to record a message, “just in case something happens to me.”

Thread 👇

Exactly!

Aspiring Fed chairs play to an audience of one [FREE TO READ] Kevin Warsh and Kevin Hassett are eroding their credibility to court Donald Trump

New central banks newsletter from me 👇👇

On the Kevins sycophancy and central banks newsletter comms

on.ft.com/453LxuD Aspiring Fed chairs play to an audience of one

Donald Trump asked Volodymyr Zelenskyy if Ukraine could hit Moscow, say people briefed on call US president encouraged Ukrainian leader to step up deep strikes on Russia

From ending it on day one to “bringing the war to Muscovites”

on.ft.com/3UcS4wQ Donald Trump asked Volodymyr Zelenskyy if Ukraine could hit Moscow, say people briefed on call

The sentiment model just uses the relationship between monthly aggregate sentiment and inflation over the coming 12 months. Performance is evaluated out of sample (expanding window forecast, with initial training window 1982-2002)

I’m biased, but the data is not: FT journalism is so valuable a model just crunching the text out-predicts Fed forecasts of inflation!

on.ft.com/4nHoaOU

FT sentiment and topic coverage predicts inflation [FREE TO READ] Our macro mood index and topic attention helps anticipate where inflation is going

A model based on FT journalism turns out to be better than the Fed at forecasting US inflation!

My latest piece in @financialtimes.com

on.ft.com/4lCcPO4 FT sentiment and topic coverage predicts inflation

Starmer and Reeves’ gilt trip will not spur the Bank of England to act [FREE TO READ] Moves in gilts on Wednesday were a rational reaction to the prospect of a less fiscally conservative chancellor

After remarkable scenes in the House of Commons today caused gilt yields to spike, my colleague Andrew Whiffin writes about what it means for the Bank of England

on.ft.com/3IaNrkj Starmer and Reeves’ gilt trip will not spur the Bank of England to act

Check out the latest edition of my @financialtimes.com newsletter. (1/2)

The rising resistance to creative destruction in advanced economies:
on.ft.com/3SRWMzt

Having a child in reception, I am truly shocked by the scale of these issues, e.g. teachers say 25% of lack basic language and are not toilet trained

www.ft.com/content/867d...

Hugely contrasting inequality effects for US & UK fiscal plans. US poorest would lose a lot, while in UK they would gain relatively more
on.ft.com/4dZDl1n & on.ft.com/3SPchIt

Corey Wiley on Twitter writes: "You don’t get it. Foundational immigration law is morally just and has been established over millennia. Disrespecting these rules and ideals is very offensive to folks who highly value civilized society"

Not true.

I see you're a luxury watch dealer. I'm also interested in watches. Let me show you how free and easy migration has allowed you to earn a living. 🧵

How smuggled US fuel funds Mexico’s cartels Sophisticated criminal networks are illegally importing huge volumes of fuel — and piling pressure on Mexico’s president

Very interesting FT visual investigation here. Massive US fuel smuggling is helping to fund Mexican cartels: ig.ft.com/mexico-fuel-...