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RIP Stan. Stan was my mentor and my friend. He was an outstanding economist, an outstanding policy maker, but even more importantly, a great human being. Science, commitment, honesty, and humility at the service of humankind. piie.com/publications/p…

Trump’s own lawyer Robert Giuffra told partners at his firm he believed Trump’s executive orders against law firms were unconstitutional and he hoped they’d stop. Inside how law firms who made deals with Trump have faced significant turmoil. FREE LINK: wsj.com/us-news/law/la…

Actually, better the Matrix then most post-apocalyptic movies because at least the blue pill lets you believe the apocalypse hasn't happened.

Say what you will about what's in the rescissions package, but at least it's a legal way to cut spending, fully codified in the Impoundment Control Act. (Cuts to already appropriated funds by executive order alone may be illegal.)

Whew

Hiring freezes and staff shortages have reduced how many prices and outlets the BLS can check, leading to a potentially less reliable consumer price index, Matt Grossman reports. wsj.com/economy/cpi-in…

What have foreign students brought us? The USB port, invented at Intel by Ajay Bhatt who came here from India as a student. Plus countless other innovations and startups. Must-read by Paul Kiernan on the economic bounty of student visas. wsj.com/us-news/educat…

Yes but it brings me to my next point which is that it feels (not necessarily is) almost certain that this nationalist right trend is not going away any time soon. It feels like it's on a trajectory to remain a core dynamic years from now x.com/seal_emo/statu…

This is not hard. If the OBBB is passed, debt will rise from 100% of GDP today to 124% of GDP by 2035. If it is not passed, debt will rise to 117% of GDP by 2035. The “baseline” debate is a distraction from the main issue, which is that the US budget is unsustainable either way.

Skanda Amarnath Scott Lincicome Yes, the effect on tariff-sensitive consumer categories is likely already there, particularly when you consider that these categories had a pre-tariff downward trend.