Friday, August 1, 2025

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Is The End Nigh? Democrat Effort to Dump Biden Spreads to Inner Circle.

Advisors in the 81-year-old Joe Biden‘s inner circle and on his 2024 presidential re-election campaign acknowledge that he cannot win and needs to drop out of the race. “He needs to drop out,” an anonymous Biden campaign official said in a recent interview. They added: “He will never recover from this.”

This dissident within the Biden campaign is not alone. A second campaign advisor says, “No one involved in the effort thinks he has a path.” According to these sources, donor concern over Biden’s cognitive impairment has caused campaign fundraising to almost entirely dry up—leaving the re-election effort unsure about how to move forward.

Pushing back against their internal revolt, Biden campaign manager Jennifer O’Malley Dillon issued a memo to campaign staff insisting that the 81-year-old incumbent has a path to victory. “Our internal data and public polling show the same thing: this remains a margin-of-error race in key battleground states,” O’Malley Dillon wrote.

“The movement we have seen, while real, is not a sea-change in the state of the race — while some of this movement was from undecided voters to Trump, much of the movement was driven by historically Democratic constituencies moving to undecided,” she added.

Meanwhile, Biden aides in the White House are beginning to pressure the octogenarian Democrat to exit the presidential race as well. On Thursday, the New York Times reported that senior aides have begun strategizing on how best to convince their boss that his disastrous June 27 debate performance was a fatal blow to his re-election hopes.

The most convincing indication that the Biden White House and re-election campaign may be reaching a late-Roman Empire style ‘Praetorian moment’ is a report that the campaign has begun quietly polling Vice President Kamala Harris against former President Trump.

By Popular Demand.
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British Govt Revives Covid-Era ‘Spy Unit’ to Monitor Online Immigration Critics.

PULSE POINTS

WHAT HAPPENED: A secretive government “spy” unit in Britain has been revived to monitor and flag social media posts critical of migrants being hosted in hotels and “two-tier policing”.

👤WHO WAS INVOLVED: Civil servants under Science, Innovation, and Technology Secretary Peter Kyle, social media firms, and critics, including U.S. Rep. Jim Jordan (R-OH).

📍WHEN & WHERE: E-mails were sent during the Southport protests against mass migration in August 2022, with revelations concerning them recently.

💬KEY QUOTE: “Many tweets get you a longer prison sentence than many violent offences.” – Jim Jordan

🎯IMPACT: Critics argue this undermines free speech, while Prime Minister Sir Keir Starmer’s government insists it is protecting public safety and monitoring harmful content.

IN FULL

A secretive British government unit, previously known as the “Counter Disinformation Unit,” has been revived to monitor social media posts critical of migrants being housed in hotels at taxpayers’ expense and “two-tier policing.” The unit, operating under Peter Kyle’s Department for Science, Innovation and Technology, flagged posts to social media firms, warning they could “exacerbate tensions.” E-mails sent during the Southport protests against mass migration in August 2022 revealed concerns over posts, including one video captioned “Looks like Islamabad but it’s Manchester,” which officials claimed was shared to “incite fear of the Muslim community.” The e-mails requested explanations on how flagged content was being handled, though they did not explicitly call for removal.

Rep. Jim Jordan (R-OH), Chairman of the U.S. House Judiciary Committee, revealed the correspondence after subpoenaing a social media company for documents. Jordan criticized the British government’s approach, stating accurately that, “Many tweets get you a longer prison sentence than many violent offences.”

Government officials have denied censorship claims, asserting the unit’s role is to monitor trends and flag content that violates platforms’ terms of service. A British government spokesman claimed, “Free speech is a cornerstone of our democracy. The Online Safety Act protects it.”

In fact, the Online Safety Act has resulted in a range of content wholly unrelated to child protection being censored, and Britons do not enjoy American-style free speech protections, with thousands being arrested under the Communications Act and other legislation outlawing “grossly offensive” messages, “stirring up hatred,” and other speech-related crimes.

Image by Simon Dawson / No 10 Downing Street.

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By Popular Demand.
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Anti-NYPD Mamdani Gets NYPD Security Detail.

PULSE POINTS

WHAT HAPPENED: Democratic New York City mayoral candidate Zorhan Mamdani admitted he enjoys a New York City Police Department (NYPD) security detail despite his support for defunding the department and past comments calling them “racist” and a “threat” to public safety.

👤WHO WAS INVOLVED: Zohran Mamdani, the NYPD.

📍WHEN & WHERE: Mamdani commented about his security on July 31.

💬KEY QUOTE: “My life is sadly not the one that it was. There are far more threats and with that comes precautions that I wish I didn’t have to take, though they are precautions I am immensely grateful for. Especially the example of the NYPD detail that I have here in New York City.” — Zohran Mamdani

🎯IMPACT: The revelations expose Mamdani’s hypocrisy when it comes to law enforcement, advocating for less policing and more lenient treatment of criminals while enjoying personal protection.

IN FULL

The Democrats’ New York City mayoral candidate, Zohran Mamdani, has revealed he enjoys a New York City Police Department (NYPD) security detail, despite smearing the department and advocating for it to be defunded for years.

“My life is sadly not the one that it was. There are far more threats and with that comes precautions that I wish I didn’t have to take, though they are precautions I am immensely grateful for. Especially the example of the NYPD detail that I have here in New York City,” Mamdani said at a press event on July 31.

The Indian-heritage Ugandan socialist, who only became a U.S. citizen in 2018, has been widely criticised for his past comments on the NYPD, particularly following a mass shooting earlier this week on July 28 that saw four people killed, including an NYPD officer.

In June of 2020, Mamdani referred to the NYPD as “racist, anti-queer & a major threat to public safety,” while in 2021 he stated that, “We can’t reform a system working exactly as designed – to control Black, brown & poor New Yorkers. We need to defund the police… free the thousands locked up unjustly & invest the savings in those most impacted by state violence.”

WATCH:

Image by Bingjiefu He.

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By Popular Demand.
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Trump Ousts Biden-Appointed Labor Stats Chief Following Disputed Jobs Revision.

PULSE POINTS

WHAT HAPPENED: President Donald J. Trump has fired Erika McEntarfer, the Joe Biden-appointed Commissioner of Labor Statistics, after the Bureau of Labor Statistics (BLS) released multiple jobs reports dating back to well before the 2024 election that overstate labor market growth.

👤WHO WAS INVOLVED: President Donald Trump, Erika McEntarfer, Federal Reserve Chairman Jerome Powell, and Fed Governor Christopher Waller.

📍WHEN & WHERE: Statements were made via Truth Social on August 1, 2025, addressing July 2025 jobs data and jobs reports leading up to the 2024 election.

💬KEY QUOTE: “Important numbers like this must be fair and accurate, they can’t be manipulated for political purposes.” – Donald Trump

🎯IMPACT: The controversy has reignited debates over the politicization of economic data and the Federal Reserve’s continued obstinacy toward reducing interest rates.

IN FULL

President Donald J. Trump has taken aim at the Bureau of Labor Statistics (BLS) and its now former Commissioner, Dr. Erika McEntarfer, claiming that job numbers have been continually and intentionally manipulated to favor Democrats since before the 2024 election. Trump announced McEntarfer’s firing via Truth Social, citing significant errors in job data revisions.

“I was just informed that our Country’s ‘Jobs Numbers’ are being produced by a Biden Appointee, Dr. Erika McEntarfer, the Commissioner of Labor Statistics, who faked the Jobs Numbers before the Election to try and boost Kamala’s chances of Victory,” Trump wrote in a post on Truth Social. He highlighted that the BLS overstated job growth by 818,000 in March 2024 and by 112,000 in August and September 2024, calling these errors “records” and unacceptable.

Trump further stated, “Important numbers like this must be fair and accurate, they can’t be manipulated for political purposes.” He also criticized Federal Reserve Chairman Jerome Powell, who—along with the central bank’s Federal Open Market Committee (FOMC)—once again declined to lower interest rates during the FOMC’s July meeting. “Jerome ‘Too Late’ Powell should also be put ‘out to pasture,’” Trump added.

Earlier on Friday, the BLS released significant downward revisions to labor market data for May and June. Meanwhile, July’s jobs numbers fell well below expectations. Federal Reserve Governor Christopher Waller, a member of the FOMC, made the unprecedented move to publish an official statement blasting his colleagues’ hesitancy to slash borrowing costs. “When labor markets turn, they often turn fast. If we find ourselves needing to support the economy, waiting may unduly delay moving toward appropriate policy,” Waller warned.

The Secretary of Labor, Lori Chavez-DeRemer, backed President Trump’s decision to oust McEntarfer. “A recent string of major revisions has come to light and raised concerns about decisions being made by the Biden-appointed Labor Commissioner,” Chavez-DeRemer wrote in a post on X (formerly Twitter), suggesting possible malfeasance by McEntarfer. She continued: “I support the President’s decision to replace Biden’s Commissioner and ensure the American People can trust the important and influential data coming from BLS.”

“During the search for a replacement, Deputy Commissioner William Wiatrowski will serve as Acting Commissioner,” the Labor Secretary announced.

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Jury Orders Tesla to Pay $329 Million After Fatal Autopilot Crash.

PULSE POINTS

WHAT HAPPENED: A federal jury in Miami, Florida, ordered Tesla to pay $329 million in damages to victims of a crash involving its Autopilot technology.

👤WHO WAS INVOLVED: Tesla and the victims of the crash.

📍WHEN & WHERE: The verdict was delivered on Friday in Miami after a four-year-long legal battle.

🎯IMPACT: The decision could lead to further costly lawsuits against Tesla and challenges to its safety reputation.

IN FULL

A jury in Miami, Florida, has ordered Tesla to pay $329 million to victims of a deadly crash involving the company’s Autopilot driver assist technology. The federal jury determined that Tesla’s technology bore significant responsibility for the crash.

Many similar lawsuits against Tesla have been dismissed or settled out of court to avoid public scrutiny. This decision could set a precedent for future legal challenges to Tesla’s Autopilot and other driver-assist technologies.

The crash involved a young couple who were struck while stargazing, and the jury’s decision underscores the potential risks associated with the use of semi-autonomous driving systems. Tesla has often marketed its vehicles as being safe and capable of autonomous driving, but this verdict raises questions about the reliability of such claims.

Elon Musk, Tesla’s CEO, has been actively promoting the idea of driverless taxis and expanding the company’s autonomous driving capabilities in several cities. However, this legal setback could complicate those plans and impact consumer confidence in the technology.

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By Popular Demand.
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Ghislaine Maxwell Secures Transfer to Minimum-Security Facility, Eyes Pardon.

PULSE POINTS

WHAT HAPPENED: Child sex trafficker and Jeffrey Epstein associate Ghislaine Maxwell was transferred from a low-security prison in Florida to a minimum-security facility in Texas.

👤WHO WAS INVOLVED: Ghislaine Maxwell, her lawyer David Oscar Markus, Deputy Attorney General Todd Blanche, and the Federal Bureau of Prisons.

📍WHEN & WHERE: The transfer occurred this week from a Florida prison to the Federal Prison Camp Bryan in southeast Texas.

💬KEY QUOTE: “Ms. Maxwell cannot risk further criminal exposure in a politically charged environment without formal immunity.” – David Oscar Markus

🎯IMPACT: The move has sparked further questions about Maxwell’s cooperation with authorities and her appeal for a potential pardon.

IN FULL

Ghislaine Maxwell has been discreetly relocated from the low-security Federal Correctional Institution (FCI) in Tallahassee, Florida, to Federal Prison Camp Bryan, a minimum-security facility in southeast Texas. The Jeffrey Epstein associate’s attorney, David Oscar Markus, confirmed the transfer, which represents a notable shift for the 63-year-old as she continues to serve a 20-year sentence for child sex trafficking.

What makes this transfer stand out is that it was reportedly managed by the Federal Bureau of Prisons rather than the U.S. Marshals Service, an uncommon procedural move. Before arriving in Texas, Maxwell spent a short time at a federal facility in Oakdale, Louisiana. Her new prison placement is known for housing mostly nonviolent offenders. At Bryan, Maxwell will have access to various commissary items such as cosmetics.

Maxwell’s legal team has made it known that she is pursuing a pardon from President Donald J. Trump. Her lawyer emphasized that she is prepared to speak “openly and honestly” to members of Congress, provided she is granted immunity in return for her testimony. The House Oversight Committee recently issued a subpoena requiring Maxwell to give a deposition on August 11. However, Markus warned that she would remain silent without immunity.

“Ms. Maxwell cannot risk further criminal exposure in a politically charged environment without formal immunity. Nor is a prison setting conducive to eliciting truthful and complete testimony,” Markus said.

When asked about potentially granting Maxwell a pardon, Trump responded, “Well, I’m allowed to give her a pardon, but nobody’s approached me with it.”

Deputy Attorney General Todd Blanche visited Maxwell in Florida last week to question her about Jeffrey Epstein. According to Markus, officials asked about “maybe 100 different people” during that meeting. Despite growing public demand for transparency, the Justice Department recently reaffirmed that it will not release further records tied to the Epstein case, asserting that no so-called “client list” for Epstein exists, despite Attorney General Pam Bondi previously saying it was “sitting on [her] desk.”

Maxwell is pursuing an appeal of her conviction, claiming that a 2008 agreement made with Epstein by federal prosecutors should have also granted her protection from prosecution.

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By Popular Demand.
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Radical Biden Judge Blocks Trump Deportations, Says Policy Motivated by ‘Great Replacement’ Theory.

PULSE POINTS

WHAT HAPPENED: A federal judge ruled against the Trump administration’s plans to end Temporary Protected Status (TPS) for immigrants from Nepal, Honduras, and Nicaragua—bizarrely claiming, without evidence, that the administration’s policy change is motivated by racial animosity and fear of the white population’s replacement.

👤WHO WAS INVOLVED: U.S. District Court Judge Trina L. Thompson, Department of Homeland Security (DHS) Secretary Kristi Noem, and plaintiffs representing TPS immigrants from the affected nations.

📍WHEN & WHERE: The ruling was issued on Thursday, with the case continuing as protections remain in place. A hearing is set for November 18.

💬KEY QUOTE: “The freedom to live fearlessly, the opportunity of liberty, and the American dream. That is all Plaintiffs seek. Instead, they are told to atone for their race, leave because of their names, and purify their blood.” – Judge Trina L. Thompson

🎯IMPACT: TPS protections for the affected groups will remain in place while the case proceeds, miring the Trump administration’s mass deportation efforts in further legal battles.

IN FULL

On Thursday, U.S. District Judge Trina L. Thompson ruled against the Trump administration’s decision to terminate Temporary Protected Status (TPS) for approximately 60,000 immigrants from Nepal, Honduras, and Nicaragua. The judge stated that the administration’s decision was influenced by discriminatory beliefs, including the notion that non-white immigrant groups could replace white Americans.

“The freedom to live fearlessly, the opportunity of liberty, and the American dream. That is all Plaintiffs seek. Instead, they are told to atone for their race, leave because of their names, and purify their blood,” Judge Thompson wrote in her order, arguing without evidence that the decision to end TPS for certain immigrants is motivated by a “discriminatory belief that certain immigrant populations will replace the white population.”

Judge Thompson, appointed by former President Joe Biden to the United States District Court for the Northern District of California, further pontificated: “Color is neither a poison nor a crime.”

TPS allows immigrants to live and work for a brief period in the United States if their home countries are deemed unsafe. However, the former Obama and Biden governments abused the TPS designation, extending the deportation protection far past its intended expiration and well after the crisis impacting the migrants’ nations of origin ended.

The Trump administration had already ended protections for immigrants from countries including Venezuela, Haiti, and Afghanistan. Homeland Security Secretary Kristi Noem argued that conditions in Nepal, Honduras, and Nicaragua no longer warranted protections, but the court disagreed.

Judge Thompson argued that the administration failed to conduct an “objective review of the country conditions,” claiming political violence in Honduras and the aftermath of hurricanes in Nicaragua were grounds to extend the TPS designation. She also editorialized that, in her opinion, the decision seemed tied to broader campaign rhetoric rather than legitimate policy analysis.

The protections for the affected immigrants will remain in place as the case continues, with the next hearing scheduled for November 18.

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By Popular Demand.
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The Corporation for Public Broadcasting Is Dead.

PULSE POINTS

WHAT HAPPENED: The congressionally funded nonprofit Corporation for Public Broadcasting (CPB)—which provides financial support for the Public Broadcasting Service (PBS) and National Public Radio (NPR)—announced it will cease operations by January 2026 after being defunded by the Trump administration and Congress.

👤WHO WAS INVOLVED: The Corporation for Public Broadcasting (CPB), the Public Broadcasting Service (PBS), National Public Radio (NPR), CPB President and CEO Patricia Harrison, Congress, and the Trump White House.

📍WHEN & WHERE: The announcement was made on August 1, 2025.

💬KEY QUOTE: “Despite the extraordinary efforts of millions of Americans who called, wrote, and petitioned Congress to preserve federal funding for CPB, we now face the difficult reality of closing our operations.” — CPB President and CEO Patricia Harrison

🎯IMPACT:  Most CPB staff positions will be eliminated by September 30, 2025, with a small number of employees remaining in place through January 2026 to “closeout” its operations.

IN FULL

The Corporation for Public Broadcasting (CPB), a private but congressionally funded nonprofit that financially supports the Public Broadcasting Service (PBS) and National Public Radio (NPR), announced it has begun the process of ending its operations as a result of the Trump White House’s rescissions request adopted by Congress in July. The rescissions package clawed back much of the CPB’s government funding, with future financial backing being dropped entirely in the Senate Appropriations Committee’s Fiscal Year 2026 Labor, Health and Human Services, Education, and Related Agencies (Labor-H) appropriations legislation.

“Despite the extraordinary efforts of millions of Americans who called, wrote, and petitioned Congress to preserve federal funding for CPB, we now face the difficult reality of closing our operations,” CPB President and CEO Patricia Harrison said in a statement. She continued: “CPB remains committed to fulfilling its fiduciary responsibilities and supporting our partners through this transition with transparency and care.”

“Public media has been one of the most trusted institutions in American life, providing educational opportunity, emergency alerts, civil discourse, and cultural connection to every corner of the country. We are deeply grateful to our partners across the system for their resilience, leadership, and unwavering dedication to serving the American people,” Harrison added.

According to the CPB, it has informed most of its staff that their positions will be eliminated by September 30, 2025, the conclusion of the fiscal year. However, the taxpayer-funded nonprofit says a small number of employees will remain in place through January 2026 to “closeout” its operations.

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Zelensky Confirms Talks with Trump on Major Arms Deal.

PULSE POINTS

WHAT HAPPENED: Ukrainian President Volodymyr Zelensky announced progress toward a major arms agreement with the United States, following discussions with President Donald J. Trump.

👤WHO WAS INVOLVED: Volodymyr Zelensky, Donald Trump, and European Union (EU) leaders.

📍WHEN & WHERE: Zelensky’s address took place Wednesday evening; discussions with Trump occurred recently, with the EU negotiations ongoing.

💬KEY QUOTE: “Large-scale agreements, I talked about them with President Trump, and I very, very much hope that we will be able to implement all of this.” – Volodymyr Zelensky

🎯IMPACT: The agreements could bolster Ukraine’s military capacity, while also solidifying U.S. and EU support amid ongoing conflict with Russia.

IN FULL

Ukrainian President Volodymyr Zelensky claimed during an address in Kiev this week that his country is close to finalizing a significant arms agreement with the United States. He revealed that he presented President Donald J. Trump with Ukraine’s “main principles” for future weapons deals, but did not confirm whether Trump had agreed to these terms.

“Today, I also agreed on the main principles of our agreements with America, Ukraine—the United States—on arms,” Zelensky said. He continued: “Large-scale agreements, I talked about them with President Trump, and I very, very much hope that we will be able to implement all of this. This will definitely strengthen both of our countries, and therefore—our allies, our partners.”

Last week, the Trump administration approved arms sales to Ukraine totaling $650 million, but it remains unclear if these are the same “large-scale” deals mentioned by Zelensky. The Ukrainian leader emphasized the importance of these agreements as a step toward ending the war with Russia. “Right now we need to act to force Russia to peace,” he said, adding that sanctions and economic pressure could also play a significant role.

Trump also highlighted a recent agreement with the European Union (EU), under which the EU would pay “100% of the cost of all military equipment” provided by the U.S. “They’re going to ship it to the European Union, and then they’ll distribute it, and much of it will go to Ukraine,” Trump stated. Additionally, the EU will fund U.S.-made Patriot air defense systems sent to Ukraine, whether directly or through European nations. Trump has described the arrangement as economically beneficial, stating, “This will be a business for us.”

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Trump Deploys Nuclear Submarines in Response to Russian Official’s ‘Foolish and Inflammatory’ Remarks.

PULSE POINTS

WHAT HAPPENED: Two nuclear submarines have been ordered to strategic positions in response to provocative statements made by Dmitry Medvedev, the Deputy Chairman of Russia’s Security Council.

👤WHO WAS INVOLVED: Dmitry Medvedev, Former Russian President and current Deputy Chairman of the Russian Security Council.

📍WHEN & WHERE: The announcement followed Medvedev’s recent statements, with submarines reportedly deployed to “appropriate regions.”

💬KEY QUOTE: “Words are very important, and can often lead to unintended consequences, I hope this will not be one of those instances.” – Donald Trump

🎯IMPACT: The move underscores heightened tensions and the potential for unintended escalations in light of provocative rhetoric.

IN FULL

Two nuclear submarines have been ordered to strategic locations by President Donald J. Trump in response to comments made by leading Russian official Dmitry Medvedev. “Based on the highly provocative statements of the Former President of Russia, Dmitry Medvedev, who is now the Deputy Chairman of the Security Council of the Russian Federation, I have ordered two Nuclear Submarines to be positioned in the appropriate regions, just in case these foolish and inflammatory statements are more than just that,” the President announced on his Truth Social platform.

“Words are very important, and can often lead to unintended consequences, I hope this will not be one of those instances,” Trump continued, adding, “Thank you for your attention to this matter!”

On July 28, Medvedev had threatened the U.S. over Trump’s decision to shorten a deadline for Russia to make peace with Russia, or else face stronger economic measures, including secondary sanctions.

“Trump’s playing the ultimatum game with Russia… Russia isn’t Israel or even Iran,” Medvedev posted on X (formerly Twitter), adding: “Each new ultimatum is a threat and a step towards war. Not between Russia and Ukraine, but with his own country. Don’t go down the Sleepy Joe [Biden] road!”

Despite its lackluster military performance in Ukraine, Russia remains a potent nuclear power—although a Ukrainian surprise attack recently degraded its strategic bomber fleet.

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The Fed’s Waller Issues Unprecedented Warning: ‘Cut Rates Before Labor Market Deteriorates.’

PULSE POINTS

WHAT HAPPENED: The Federal Reserve’s top inflation hawk, Christoper Waller, warns that the central bank erred in not reducing interest rates in July, issuing an unprecedented public criticism of Federal Reserve Chairman Jerome Powell and his colleagues on the central bank’s Federal Open Market Committee (FOMC).

👤WHO WAS INVOLVED: Federal Reserve Governor Christopher Waller, Fed Chairman Jerome Powell, FOMC members, and the U.S. labor market.

📍WHEN & WHERE: Waller published his critique of the FOMC’s July interest rate decision on Friday, August 1.

💬KEY QUOTE: “When labor markets turn, they often turn fast. If we find ourselves needing to support the economy, waiting may unduly delay moving toward appropriate policy.” — Christoper Waller

🎯IMPACT: Employment data released on Friday came in far lower than projections. Additionally, data from the prior two months saw significant downward revisions, suggesting the American labor market may be significantly weaker than previously thought. Should labor market conditions continue to worsen, Federal Reserve actions beyond rate cuts could be necessitated.

IN FULL

Federal Reserve Governor Christopher Waller has published a rare public criticism of his colleagues on the central bank’s Federal Open Market Committee (FOMC), following their decision to hold interest rates steady at its July 30-31 meeting. The move by Waller—who is seen by many Fed observers as jockeying to succeed Jerome Powell as Chairman of the Federal Reserve—comes as new jobs data suggests the possibility of significant and worrying weakening in the U.S. labor market.

“At the most recent Federal Open Market Committee (FOMC) meeting, I dissented because I concluded that cutting the policy rate by 25 basis points was the appropriate stance of policy,” Waller’s statement, published Friday morning, reads. He continues: “First, tariffs are one-off increases in the price level and do not cause inflation beyond a temporary increase. Standard central banking practice is to ‘look through’ such price-level effects as long as inflation expectations are anchored, which they are.”

“My final reason to favor a cut now is that while the labor market looks fine on the surface, once we account for expected data revisions, private-sector payroll growth is near stall speed, and other data suggest that the downside risks to the labor market have increased. With underlying inflation near target and the upside risks to inflation limited, we should not wait until the labor market deteriorates before we cut the policy rate,” Waller concludes, with the jobs data released shortly after underscoring his concerns.

While known as a staunch inflation hawk, Waller warns: “The price effects from tariffs have been small so far, and since we will likely not get clarity on tariff levels or their ultimate impact on the economy over the course of the next several months, it is possible that the labor market falters before that clarity is obtained—if it ever is obtained. When labor markets turn, they often turn fast. If we find ourselves needing to support the economy, waiting may unduly delay moving toward appropriate policy.”

Notably, employment data released on Friday came in far lower than projections at just 73,000 jobs added in July. Additionally, data from the prior two months saw significant downward revisions, suggesting the American labor market may be significantly weaker than previously thought. Should labor market conditions continue to worsen, Federal Reserve actions beyond rate cuts could be necessitated.

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