Posting break for vaca, back in a bit.
Michael Derby
@michaelsderby.bsky.social
9059 Followers
854 Following
Fed and economy reporter with @reuters.com, ex-Wall Street Journal. Failed musician, guitar holdout, I really like pedals.
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An uninsurable world looms after lack of action on arresting climate change. Via CNBC
Why insurers worry the world could soon become uninsurable
Günther Thallinger, a board member at Allianz, one of the world's biggest insurers, says the climate crisis could make adaptation economically unviable.
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Letter from FBI Director Kash Patel firing veteran FBI agent Walter Giardina, whose wife died of cancer last month at age 49. Patel accuses this agent, a Marine combat veteran, of “weaponization.” Many of his FBI colleagues told me he did his job scrupulously and ethically.
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Prosecutors have convened a grand jury and subpoenaed New York AG Letitia James' office for documents about her fraud lawsuit against President Trump and a separate case she brought against the National Rifle Association, a source told Reuters reut.rs/3J4N7UB
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"Peace in our time"
Trump claims “President Putin I believe wants to see peace” and acknowledges Ukraine will have to make territorial concessions (unclear what Russia’s concessions will be, if any)
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The President firing the BLS Commissioner last week stirred up many criticisms agency. One that I found most troubling is the idea that the private sector could do it better. No, there's no substitute for the BLS as I argue in my @opinion.bloomberg.com piece: www.bloomberg.com/opinion/arti...
The BLS Can’t Be Replaced by the Private Sector
Government statistical agencies provide breadth and context that private firms can’t match.
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R.I.P. Jim Lovell, an American hero
www.cbsnews.com/news/jim-lov...
Jim Lovell, Apollo 13 commander, dies at age 97
Astronaut Jim Lovell has died, NASA announced.
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"Trump Is Replacing Billy Long as I.R.S. Commissioner" says the NYT. That would mean SIX IRS commissioners since January.
I'll have a new report up on leadership changes at IRS next week, but here's the summary as of May. www.lawfaremedia.org/article/what...
What’s Going on at the IRS?
Breaking down the reduction in tax workforce, DOGE’s attempts to access sensitive data, and the politicization and erosion of agency independence at the IRS
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Citibank: Upcoming CPI “should keep Fed officials firmly on-track to resume rate cuts in September. Tariff-related goods inflation is unlikely to become persistent against an otherwise disinflationary backdrop. Risks are balanced toward more rapid and deeper policy rate reductions.”
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Good to see that Trump is working hard to drive India closer to Russia (and China). His tariff policy will do nothing to help Ukraine but it will weaken the USA….almost as if it was intended.
