Mike Madowitz

Every Reason Why I Hate AI and You Should Too maybe it's anti-innovation, maybe it's just avoiding hype. But one thing is clear, I'm completely done with hearing about AI.

But in the meantime, why not slap “powered by AI” on your toilet brush and win over a few extra customers from your competitors. This is essentially what you’re seeing now with every single company just ham fisting some half-baked LLM chatbot into their workflow.

Trump Will Remake the Fed. Lower Rates Are Just the Start. President Donald Trump wants the Federal Reserve to cut interest rates by a lot, quickly. He will get that, and probably much more, under the next Fed chair.

Nothing alarming here, definitely tell your grandma to buy these bonds

America’s lowest-paid workers are suffering a sharper slowdown in wage growth than their richer peers, adding to the pressure on Donald Trump over inequality https://on.ft.com/3UbHZ3u

You can call for serious economists to resign, but that assumes any serious economist would have signed up for this in the first place.

Key point from Andreas Georgiou, who was criminally prosecuted for insisting on reporting accurate deficit figures when he was head of Greece's statistical agency: Reliable data is essential for democracy.

Trump Fired America’s Economic Data Collector. History Shows the Perils.

President Trump didn't like the jobs numbers, so he fired the person responsible for producing them.
It's a move that has been tried before, by leaders of countries from Argentina to Greece to the Soviet Union. It rarely ends well.
www.nytimes.com/2025/08/03/b... #EconSky

Trump Fired America’s Economic Data Collector. History Shows the Perils.

Where is Paul Ryan when actually time to lecture America about the Greek debt crisis?

Deeply speculative, but the revisions to All Government were especially large over the last couple months--would these reponses come in more slowly with all the DOGE limbo? #econsky

It's going fine!

Any economists on here who cen speak about experiences in their (non-US) country with the politicization of official statistics? DM me.
#EconSky

🤔

I don’t remember why I thought it was 9/5. Too much Dolly

Whispers were on the upper end of this, wonder if they moved their range down after yesterday

The media coverage of the dismissal of the BLS commissioner as another “wild time in Trumpland” shows that the media is more committed to entertainment than news. Any reputable news organization should report what the BLS does, why it is important, and why its work should not be politicized.

Am Econ Assn speaks out about firing the #BLS Commish.

"It is standard practice for statistical estimates to be revised as [better] data become available. These revisions reflect the commitment of statistical agencies to accuracy, transparency, and methodological rigor--not failure or bias."

Commissioner @erikamcentarfer.bsky.social, thank you for bringing your skill and expertise to this role and for answering every question, including when it meant explaining things multiple times to those of us who aren’t economists. I am proud to have served with you.

Rising mistrust in economists and what to do.

Great story @amandaaronczyk.bsky.social @planetmoney.bsky.social, featuring interviews with @dianeswonk.bsky.social @nickbloom.bsky.social @hoben.bsky.social & me.

#EconSky #NumbersDay

www.npr.org/2025/08/01/1...

Why US Partners Are Giving In to Trump on Trade In Donald Trump’s first term as president, Japan stood out as an exception in opting not to retaliate against his tariff hikes, as the late Prime Minister Shinzo Abe reckoned it was better to shrug them off in favor of maintaining the broader economic and security relationship.

One explanation for the lack of trade retaliation against America is its partners recognize the damage to their own economies that would come from boosting import restrictions. But there are other reasons.

It has been the honor of my life to serve as Commissioner of BLS alongside the many dedicated civil servants tasked with measuring a vast and dynamic economy. It is vital and important work and I thank them for their service to this nation.

Trump, Claiming Weak Jobs Numbers Were ‘Rigged,’ Fires Labor Official

For months, people have been asking me whether I still trusted gov’t data. My answer was always the same: The stats agencies faced longstanding challenges, some of which Trump was making worse. But there was no sign of political meddling.
I can’t say that anymore.
www.nytimes.com/2025/08/01/b...

The National Association for Business Economics (NABE) strongly condemns the baseless removal of Bureau of Labor Statistics (BLS) Commissioner Erika McEntarfer and the unfounded accusations leveled against the work of the agency. This unprecedented attack on the U.S. statistical system threatens the long-standing credibility of our economic data infrastructure.

NABE strongly condemns the baseless
removal of BLS Commissioner McEntarfer & the unfounded accusations leveled against the work of the agency. This unprecedented attack on the US statistical system threatens the long-standing credibility of our data

files.constantcontact.com/668faa28001/...

Check in on your economist friends today. We are not ok!

Trump Orders Firing of Bureau of Labor Statistics Chief The president’s move throws the quality of America’s statistical apparatus into question.

U.S. economic statistics have been considered the gold standard for decades. Trump’s move throws the quality of America’s statistical apparatus into question. www.wsj.com/politics/pol...

Not a great day for efficient markets hypothesis either

Firing the BLS Commissioner — the wonk in charge of the statisticians who track economic reality — is an authoritarian four alarm fire.

It will also backfire: You can't bend economic reality, but you can break the trust of markets. And biased data yields worse policy.

The totally groundless firing of Dr. Erika McEntarfer, my successor as Commissioner of Labor Statistics at BLS, sets a dangerous precedent and undermines the statistical mission of the Bureau. For a full statement opposing this move, read:

Trump’s first BLS Commissioner, Bill Beach, calls today’s firing groundless and dangerous.
www.friendsofbls.org/updates/2025...

Ok, but he is sending subs to Russia too

Wishing courage and good luck to the folks at BLS. I know you will continue to make honest statistics, including revisions. I hope you get to publish honest numbers despite intimidation from the political side.

Everyone who helps the creation of meaningful accurate data for the good of the public: I admire your service and appreciate you
❤️🧡🤍🩷❤️

Businesses that use government data may find data less reliable if accurate data is perceived as damaging to the party in power. In India, interference with the release of economic data led leaders of the National Statistical Commission to resign in protest.

Re: Trump/BLS... Firing officials for reporting accurate data unflattering to the regime is straight out of the authoritarian playbook.

Last year I wrote about this and other likely economic consequences of further democratic erosion:

www.brookings.edu/articles/dem...