The Sluggish Renaissance of U.S. Manufacturing | Metals Mine

  • The Sluggish Renaissance of U.S. Manufacturing

    From stlouisfed.org

    Geopolitical tensions have spurred a revival of U.S. manufacturing, an argument in favor of reshoring manufacturing jobs. At the end of 2024, about 12.6 million people were employed in the manufacturing sector. This represents about 9.3% of total private sector employment. While manufacturing was once a leading source of jobs, employment in the sector has declined over the past decades as the economy has shifted toward service industries. It averaged 33.7% of employment in 1960 and 19.4% in 1990. Although not enough to reverse this downward trend, the number of manufacturing employees has been slowly recovering over ... (full story)

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    EJ Antoni suggests suspending monthly jobs report - Fox Business

    From @DeItaone|Aug 12, 2025|43 comments

    *EJ ANTONI SUGGESTS SUSPENDING MONTHLY JOBS REPORT: FOX BUSINESS Trump’s pick to lead labor stats agency could pause monthly jobs report over accuracy concerns E.J. Antoni, the economist tapped by President Donald Trump to lead the Bureau of Labor Statistics, suggested suspending the agency’s closely watched monthly jobs report, arguing that its underlying methodology, economic modeling and statistical assumptions are fundamentally flawed. In an interview with FOX Business ahead of Monday’s nomination announcement, Antoni criticized the data behind the monthly jobs report as unreliable and frequently overstated, warning that it misleads key economic decision-makers from Washington to Wall Street. "How on earth are businesses supposed to plan – or how is the Fed supposed to conduct monetary policy – when they don’t know how many jobs are being added or lost in our economy? It’s a serious problem that needs to be fixed immediately," Antoni told FOX Business.

    Trump threatens Fed chair Powell with ‘major lawsuit’ over HQ renovation cost

    From cnbc.com|Aug 12, 2025|5 comments

    President Donald Trump on Tuesday threatened to allow a “major lawsuit” against Federal Reserve Chairman Jerome Powell to go forward, dramatically escalating his efforts to ...

    Schmid: The Federal Reserve and Outlook for the Economy and Monetary Policy

    From kansascityfed.org|Aug 12, 2025

    Thank you for having me today. I appreciate the opportunity to talk with you, and I look forward to our discussion. I will start with a few words about the Federal Reserve and what we do before turning to the outlook for the economy and monetary policy. The Federal Reserve System The Federal Reserve is America’s central bank. It was established by an act of Congress in 1913. The structure of the system, with a seven-member Board of Governors in Washington, D.C., and 12 independent and geographically defined district banks across the country, owes much to the state of Oklahoma. Sen. Robert L. Owen, one of Oklahoma’s first senators, sponsored the Federal Reserve Act. Sen. Owen believed that the United States would be best served by a central bank directly engaged with communities across the United States. As such, the Act established a regional structure for the Federal Reserve, with each district bank serving its region and representing its geography in the national discussion of monetary policy. That is what we do at the Kansas City Fed. It is what we do from our office here in Oklahoma City, and what we do across our district’s seven-state region of western Missouri, Kansas, Oklahoma, Nebraska, Colorado, Wyoming, and northern New Mexico. The regional structure of the Fed allows for voices across the nation to inform the setting of policy, and staff from our bank, including Oklahoma City Branch Executive Cortney Cowley, are in regular contact with business and community leaders throughout the district, collecting information and views that can be brought to the national conversation. For me, meetings such as this one are an opportunity to collect insights that I can bring to Washington, a KC FED'S SCHMID/OKLAHOMA CITY: TARIFFS SO FAR 'SEEM TO HAVE LIMITED EFFECT ON INFLATION;' MAY NEVER HAVE TOTAL CLARITY ON TARIFFS EFFECT #Schmid #FederalReserve #economy Fed's Schmid Says Keeping Slightly Restrictive Policy Is Currently Suitable and Supports a Patient Approach to Changing Interest Rates Fed's Schmid: The tariffs' limited effect on inflation is a reason to keep policy on hold, not an opportunity to cut rates. Fed's Schmid: I will modify my views if I see demand diminishing.

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