Tim Kehoe 🇺🇸🇨🇦🇲🇽🇺🇦

Argentine inflation data questioned even after reforms By Hugh Bronstein

After President Fernandez told Argentina's statistical agency to make up inflation data in 2007, country had problems selling bonds for years. Trump's firing of BLS Commissioner yesterday will cause problems for U.S.

With Trump's deficits, we need to sell bonds!

www.reuters.com/article/mark...

Scotland responds to President Trump's complaints about windmills during his visit there

...by building more windmills!

www.yahoo.com/news/article...

Students in every university macroeconomics course in the world learn about falsification of Argentinean data by President Fernandez. President Trump has probably guaranteed himself long-term fame by his actions yesterday.

At least President Fernandez wanted false inflation data to save on government payments to holders of inflation indexed bonds. President Trump is only worried about looking bad.

5 questions Trump faces after dismal jobs report; BLS commissioner firing President Trump’s economic pitch took a serious hit Friday after the latest federal jobs report revealed stunning weakness in the labor market. He responded by firing the commissioner of the Bureau of...

President Trump fired BLS Commissioner because he thinks revisions to jobs reports for past three months make him look bad. President Cristina Fernandez fired officials at Argentina's National Statistics Institute (INDEC) in 2007 because she wanted lower inflation data.
www.yahoo.com/news/article...

Ariel Burstein presents the third and final plenary lecture, on Economic Efficiency with Heterogeneous Consumers, at the Annual Meeting of the Society for Economic Dynamics at the beautiful Central Campus of the University of Copenhagen.

Two photos from Annual Meeting of Society for Economic Dynamics in Copenhagen: (L) me presenting my work with Aloisio Araujo and Juan Pablo Gama; (R) Ayşegül Şahin’s last slide of her plenary address.

Per Krusell introducing Ayşegül Şahin to present her research on Labor Market Dynamics in the second plenary session at the Annual Meeting of the Society for Economic Dynamics at the beautiful Central Campus of the University of Copenhagen.

Paco Buera presenting his work on Macro-Development, the first plenary session at the Annual Meeting of the Society for Economic Dynamics on the beautiful campus of the University of Copenhagen.

“Artificial Intelligence and Learning the Macroeconomy: Workshop in Honor of Albert Marcet,” BSE Summer Forum, 19-20 June 2025.

S3E1: The Economics of Trump Tariffs and U.S. Trade Policy Heller-Hurwicz Office Hours · Episode

New Office Hours episode: The turn away from free trade has been a major shift. Tune in to hear economists Tim Kehoe (@tkehoe.bsky.social) and Chris Phelan share their perspectives on how the president's approach to trade policy is playing out for the United States. open.spotify.com/episode/6eBS...

Ph.D. Commencement at U of Minnesota: I am with Gabriel Devoto @gabriel-devoto.bsky.social and Mauricio Barbosa Alves @mbarbosaalves.bsky.social, thesis advisees and members of Manuel Amador’s and my research workshop in international economics. Gabriel goes to IMF and Mauricio to U of Kentucky.

Ph.D. Commencement at U of Minnesota: I am with Gabriel Devoto @gabriel-devoto.bsky.social and Mauricio Barbosa Alves @mbarbosaalves.bsky.social, thesis advisees and members of Manuel Amador’s and my research workshop in international economics. Gabriel goes to IMF and Mauricio to U of Kentucky.

...

'Shocking': Experts question Trump claiming 'I don't know' about upholding Constitution President Donald Trump, a little more than 100 days after taking the oath of office, questioned whether he had a duty to uphold the Constitution and the Fifth Amendment right to due process as he expr...

Critics are upset President Trump said, "I'm not a lawyer. I don't know" in response to whether migrants are entitled to due process when 5th Amendment says they are.

I think that we should give Trump a break. He is clearly in cognitive decline, maybe Alzheimer's.

www.yahoo.com/news/experts...

If you have a subscription to the Economist, you will notice that the article -- like the Ballmer Peak and my post -- has a humorous side to it.

Why economists should like booze A martini doesn’t just steady the nerves after a rollercoaster week

This week's Economist:

"Studies suggest that alcohol, deployed judiciously, can aid the creative process. [Researchers] have found that intoxicated people solved problems faster and 'were more likely to perceive their solutions as the result of a sudden insight.'"
www.economist.com/finance-and-...

Given the constraint on number of characters in a post I said Pop WAS a great human being. Of course he IS still a great human being, and I hope that he continues to be for years to come.

Gregg Popovich steps down as coach of the Spurs Popovich, 76, suffered a stroke in November. He has not coached a game since Oct. 31.

Gregg Popovich is retiring as coach of San Antonio Spurs. Pop was great basketball coach and great human being. I remember watching Spurs--with Tim Duncan, Manu Ginobili, and Tony Parker--20 years ago and thinking, "This is how basketball should be played as a team."

www.nbcnews.com/sports/nba/g...

US economy contracts at 0.3% rate in Q1, first GDP pullback in 3 years A surge in imports ahead of anticipated tariffs resulted in the first negative reading for US economic growth in three years.

Is U.S. in a recession now? We will know when we get numbers for 2025Q2. NBER Business Cycle Dating Committee usually, but not always, calls a recession after two quarters of negative GDP growth. The 2025Q1 contraction was small and driven by surge in imports.

finance.yahoo.com/news/us-econ...

Trump lashes out against "fake polls" as his approval ratings sink Trump added that the media outlets behind the polls are "SICK" and "TRULY THE ENEMY OF THE PEOPLE!"

President Trump is dropping in the polls. His reaction:

"FAKE POLLS FROM FAKE NEWS ORGANIZATIONS" should be "investigated for ELECTION FRAUD."

This is what can destory democracy.

www.axios.com/2025/04/28/t...

Barcelona 3-2 Real Madrid (Apr 26, 2025) Game Analysis - ESPN Expert recap and game analysis of the Barcelona vs. Real Madrid Spanish Copa Del Rey game from April 26, 2025 on ESPN.

Game summary from ESPN:

www.espn.com/soccer/repor...

YouTube video by Crackòvia TV3 El nou "Copa, Lliga i Champions" - Crackòvia

Futbol Club Barcelona guanya la Copa del Rei!

Copa, Lliga, Champions!

Un avall, en queden dos!

As we say in English: One down, two to go!

www.youtube.com/watch?v=quk4...

I was brought up a Rhode Islander, but I have lived in Minnesota since 1987, I teach at the University of Minnesota, and I am married to a Minnesotan. So I am a Minnesotan, even though I still have a Rhode Island accent.

This speech by my governor makes me proud to be a Minnesotan.

China Slams the Door on Trump: No Trade Talks Without Total Tariff Surrender Beijing rejects all negotiation rumors, demands full rollback as U.S. outreach hits a wall.

The Art of the Deal!

President Trump is looking for a way to back down from trade war with China and somehow claim there have been negotiations that make it a victory for the US and, more importantly, him. China realizes this and will give him very little.

www.yahoo.com/news/china-s...

US and global economic outlook deteriorates in Trump trade war, IMF says The U.S. and global economies will likely slow significantly in the wake of President Donald Trump's tariffs and the uncertainty they have created, the International Monetary Fund said Tuesday. The I...

Trump tariffs will reduce economic growth this year, especially in US and China:

"'We are entering a new era,' Pierre-Olivier Gourinchas, chief economist at the IMF, said. 'This global economic system that has operated for the last eighty years is being reset.'"

www.yahoo.com/finance/news...

"It felt like vertigo": The White House used this economist's research to justify tariffs. They couldn't have got it more wrong - Toronto Life McMaster professor Pau Pujolas shares the story behind a Trump administration reading-comprehension fail

Trump's tariffs from viewpoint of Spanish Canadian economist Pau Pujolas @paupujolas.bsky.social:

"I saw a message from Timothy Kehoe, my mentor and an economist at the University of Minnesota. He wrote, 'You’re famous—and I don’t think you’re going to like it.'"

torontolife.com/city/it-felt...

‘Don’t fight the Oval Office’: Investors are finally taking Trump seriously, and it’s causing a volatility spike in markets as they try to figure out his next move Volatility has plagued stocks in recent months, and major indexes are down since Trump’s election in November.

Expect more uncertainty and volatility:

"Trump’s tariff policies have led markets to decline since he was elected...Any positive news has pushed markets up from a baseline of negativity, but the lack of clarity on tariffs means that any upturn is tentative."

finance.yahoo.com/news/don-t-f...