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Nelson Schwartz
Good economic news - a day earlier than usual. Much stronger than expected hiring in June: nyti.ms/1za69ew
Medical Malpractice Premiums have been falling, not just slowing, since 2008. pic.twitter.com/gazUzUvUZt
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% who think at least 10% of world is Jewish Americas: 33% W Europe: 27% MENA: 27% (Jews actually 0.2% of world pop) pic.twitter.com/2kHpCHX58E
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Check out my take on Morgan Stanley and its CEO, James Gorman-a real tale of the new Wall Street in Sunday Biz. nyti.ms/1mnUgaO
Hiring up, unemployment down but where's my raise? Nowhere in sight in private sector. research.stlouisfed.org/fred2/series/C…
Internals on household survey are just bizarre.
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Labor force fell by 833k, unemployed fell by 733k, employed fell by 73k. Make sense of that.
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Long-term unemployed dropped by 287k to 3.5m. Would be better if not accompanied by such steep declines in labor force.
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White collar prof services wins with gain of 75,000 hires, blue collar manufacturing only adds 12,000. nyti.ms/1iQTmGQ
But fall in participation rate will reignite debate over why people are leaving the workforce, i.e. structural vs. demographic.
One notable improvement in jobs data: drop in U-6, broadest unemployment rate, to 12.3 percent-lowest since Oct 2008 research.stlouisfed.org/fred2/series/U…
Good news on hiring, but wages still flat for the rest of us. Welcome to the new normal. nyti.ms/1iQTmGQ
Air & Space Magazine has a longer writeup on that 727 that was stolen from Angola: airspacemag.com/history-of-fli…
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Super fascinating US history lesson of the day: What went on inside the Fed during financial crisis nyti.ms/1fFo0wX @NelsonSchwartz
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Key point: they thought it was a choice. RT @NelsonSchwartz: Was letting Lehman fail in 2008 the right call? nyti.ms/1fFoV0k
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Other Fed officials, like Hoenig and Lacker, were sure letting Lehman go was the right call. nyti.ms/1fFo0wX
Eric Rosengren of the Boston Fed was unusually prescient about what Leman's failure would mean in 2008. nyti.ms/1fFo0wX
Was letting Lehman fail in 2008 the right call? Check out the debate at the time among Fed officials on @nyteconomix nyti.ms/1fFo0wX
Ms. Yellen - Distribution of spending across households is very unequal. Yup.
A first taste of the problem with IOER: A congressman points out the Fed is paying banks higher interest rates than seniors get on savings.
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"@NelsonSchwartz: Yellen says "lots of people" have stock market exposure but 50% don't have any at all." Welcome to being ignored #poor
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Ms. Yellen: No conflict most of the time, and especially now, in terms of balancing dual employment and price stability mandates.
Ms. Yellen - I support both mandates: employment and price stability.
Rep. Scott of Georgia to Ms. Yellen: "We need you to be bold." Employment mandate like a "step-child."
5 minute recess in Yellen hearing. Time for a Starbucks venti bold.
Yellen says "lots of people" have stock market exposure. In fact, 50% don't have any at all - even including retirement plans, pensions etc.
Agree with @mattyglesias and @AnnalynKurtz on smart Maloney questions. Glad I didn't step away for Starbucks.
Reverse course and increase asset purchases? Only in the event of a significant deterioration in the economic outlook, Yellen says.
Yellen says she was "surprised" by weak jobs numbers in December and January. But too soon to say if it marks a deeper slowdown.
Yellen declines to back more infrastructure spending. Maybe she remembers how Greenspan's endorsement of Bush tax cuts in 2001 worked out.
Fed tapering not on a pre-set course, in other words, same-old, same-old from Yellen.
Yellen said she is a "sensible" central banker. Phew.
So far, so good - Wall Street likes what it hears from Yellen, with stocks up about half a percent in early trading.
@NelsonSchwartz OK. Thanks. I just thought it got lost in translation during this huge media storm :-) @CopenhagenZoo
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This might be the best-written article about a giraffe in the history of articles about giraffes. nytimes.com/2014/02/10/wor… @NelsonSchwartz
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Beloved giraffe or surplus animal? What's your take? Anger Erupts Over Danish Zoo’s Decision to Put Down a Giraffe nyti.ms/1gc7vM0
Tune in to @NewsHour Weekend at 6 pm Sunday EST - Discussing business and the eroding middle class with @hari nyti.ms/1kB1VEr
Going on Al Jazeera America's @AJConsiderThis at 10pET to discuss jobs data and the middle class. Tweet your questions now to @HermelaTV
In May, Oberlander wrote on "cowardly" DOJ move to seize AP phone records: nyr.kr/1gU3oYu
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Don't blame the weak jobs numbers on the cold etc. last month - hiring was strong in construction, a sector that is sensitive to weather.
A disappointing start to 2014 for the economy, as job growth is weak again. nyti.ms/1f16X8n
Hey big spenders: How rising inequality is skewing consumption @NelsonSchwartz nyti.ms/1froOqB
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ICYMI: Really interesting piece by @NelsonSchwartz on retailers' response to income polarization. nytimes.com/2014/02/03/bus…
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The Middle Class Is Steadily Eroding & The Rich Are Doing Mighty Fine--Just Ask the Business World: nytimes.com/2014/02/03/bus… @NelsonSchwartz
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The decline of the middle class- interesting piece by fellow Fortune mag alumnus @NelsonSchwartz mobile.nytimes.com/2014/02/03/bus…
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So @NelsonSchwartz wrote a fascinating inequality story today: nyti.ms/1kB1VEr He's also criminally underfollowed. Remedy that? #FF
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