Contrary to Bessent's claims, there is no evidence that exporters are "lowering their prices" to keep market share and thereby bear the costs of the tariffs. US firms are bearing the costs

You'll never guess who is *actually* paying for the tariffs.

Goldman's latest (still very early) analysis of tariff effects thru June 2025: -Foreign exporters absorbed 14% of US tariffs -US companies ate 64% -US consumers ate 22% -Protected US companies also raised prices -Consumers will see bigger price increases (70%) thru the Fall

Exactly. The correct number of violent carjackings by juvenile delinquents we should tolerate is zero. Whether that trend has gone up or down is irrelevant.

Today the President announced he is federalizing the DC National Guard and deploying it to the streets of DC, reassigning various federal law enforcement personnel (FBI agents, DEA, Secret Service) to routine policing duties, and placing operational control of DC's Metropolitan

We are expecting several CPI items that saw brisk tariff pass through in June to slow the pace of price increase in July. Among those that decelerated are, household appliances, indoor plants, linens, sports equipment. Things that saw more tariff pass through are probably

My question: How do we get blue cities and Democrats more generally to recognize that everything they want cities to be is downstream of public order and that this requires a pretty aggressive posture against nuisance crimes, not just violent crimes?

Critics of Trump's takeover plan are right that violent crime in D.C. is falling by all the available measures. But in their haste to attack him, they've ignored exactly how bad violence in the city is. My latest in The Atlantic:

This is actually maybe the worst Antoni content I've seen yet. Stunning errors in a tweet are bad, but worse to do it in long form, where there's more time and effort involved. Antoni ends up erroneously arriving at negative GDP growth through a sort of housing double-count.

One point about “faking the stats” in a role like BLS: it is *far* more difficult than one might imagine if one is unfamiliar with these reports. Why? Because there’s an insane number of different data points that *have to* credibly line up. Hundreds of cross-references.

It wouldn’t shock me if Burlington to Minneapolis isn’t the most high-traffic route in America. But if a Canadian airline is willing to serve that route and no US airline is, I don’t see why we should be banning the Canadian airline from doing so. (And that’s what we do now)

Incidentally, bananas was one of my examples in this piece taxfoundation.org/blog/trump-tar…

These revenues need to be subtracted even if tariffs have no impact on output. Income and payroll taxes apply to wages and profits *after* the application of indirect taxes like tariffs.

Incredible, Republicans arguing tax increases on businesses are actually good!

While true, I don’t see why this means we couldn’t prosecute gun crimes more stringently and go after straw purchasers.

The big upside PPI inflation surprise was driven by final demand trade services, a measure of retail & wholesale margins. Margins on private capital equipment grew 14.5% YY & on personal consumption by 4.9%, both the highest nonpandemic growth since each began in 2009. This is

New piece of mine on the proposed pharma tariffs. These would have negative impacts on both the generic and branded drugs market, while doing little to enhance national security

An article from 1985 about why dating is hard in DC lol

The OBBBA limited the deduction for gambling losses, which might cause people to owe taxes on imaginary income, incentivizing gamblers succeeding on thin margins to exit the US or participate in illicit markets. taxfoundation.org/blog/gambling-… Tax Foundation Adam Hoffer