About 30 minutes into this interview, Kernan is returning to this point and trying to tell Trump his recollection of when these revisions were announced is faulty.

Trump on Kevin Warsh: He's very good. Sometimes they're very good until you put them in there and then they're not so good. Both Kevins are very good. There are other people who are very good to. Trump: The two Kevins are doing well, and there are two other people. "I'm not going to make the decision soon." Trump suggests the Kugler replacement will be a short term replacement, though he acknowledges it's possible he could put his pick for the Fed chair into the seat. Trump says Bessent isn't going to be the Fed chair. "I just take him off. He does not want it."

Trump to CNBC on the jobs numbers before the election: "The numbers were rigged." He's getting his dates wrong. He's saying the jobs numbers looked good before the election but were revised down after the election. The big downward revision in August, before the election.

This decision takes off the table the prospect for Trump to fill the Fed governor seat to be vacated this coming week by Adriana Kugler with a recess appointment, which would bypass Senate confirmation.

There’s hand to hand combat over who pays the tariffs. The outcome of this fight could shape economic activity in the second half of the year.

Good post here on the tradeoff between timeliness and accuracy.

RT @TopadoDuran: The CES survey is still one of the most comprehensive and timely employment indicators available, grounded in sound statis…

NEWS: Fed governor Adriana Kugler is resigning effective next Friday.

Powell referred six times at a Wednesday news conference to "downside risks" in the labor market, suggesting realized weakness could build a case for rate cuts despite a general view that conditions were solid. Then came Friday’s big payroll revisions.

The Federal Reserve announced it would keep interest rates steady, despite dissents from two members of its rate-setting committee who were appointed by President Trump. Trump has been pressuring Fed Chair Jerome Powell to cut rates, but Powell has expressed concerns about tariffs and inflation. @GeoffRBennett speaks to @NickTimiraos for more.