Fed Manufacturing Survey: New orders at lowest level since April 2020.
April 2025 Manufacturing Business Outlook Survey: "The index for new orders also fell sharply, from 8.7 in March to -34.2 this month, its lowest reading since April 2020."
Notes in the Margin
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Trump calls for Fed Chair Jerome Powell’s ‘termination’
Trump demands more easy money and lower interest rates. Powell isn't dovish enough for Trump.
Home Buyers Look to Adjustable-Rate Loans as Mortgage Rates Rise
Homebuyers rush to riskier loans, as tariff turmoil pushes interest rates higher: borrowers applying for adjustable-rate loans jumped to 2-year high.
Bomb, Bomb, Bomb Mexico?
According to press accounts, the Trump administration, which some right-wing libertarians have humorously described as being “antiwar,” is now contemplating dropping bombs on Mexico.
‘Mar Lago Accord’ to Rewrite Global Financial System.
The Trump adviser who wants to rewrite the global financial system: Stephen Miran, chairman of the White House Council of Economic Advisers.
Thomas Massie Issues Warning over ‘Real ID’
Kristi Noem, DHS require it for travel. Trump continues the Bush-era anti-freedom Real ID plan.
