How Switzerland’s Tiny Gold Refining Industry Triggered Major US Trade Tensions

President Donald Trump recently dismissed Bureau of Labor Statistics (BLS) Commissioner Erika McEntarfer, alleging that the July jobs report was “rigged” to harm Republican interests. However, former BLS officials clarify that the commissioner does not directly participate in data collection or preparation. The BLS gathers employment data through two main surveys: the Current Population Survey, which interviews about 60,000 households, and the Current Employment Statistics survey, which collects payroll data from businesses. Revisions to initial job estimates are common and result from delayed responses and the need for seasonal adjustments. Experts emphasize that such revisions are standard practice and not

President Donald Trump accused the Bureau of Labor Statistics (BLS) of orchestrating a “scam” after the July jobs report revealed only 73,000 jobs added, significantly below expectations. He also criticized the downward revisions of May and June’s job numbers, totaling a 258,000-job decrease. However, experts clarify that such revisions are standard practice as BLS updates initial estimates with more complete data over time. The BLS employs rigorous methodologies, including household and business surveys, to compile employment data, and revisions are part of ensuring accuracy. Economists emphasize that these adjustments reflect improved data collection and are not indicative of manipulation.

An analysis by the World Gold Council reveals that the relationship between gold prices and the U.S. Consumer Price Index (CPI) is surprisingly weak. Since 1971, only 16% of the variation in gold prices can be explained by changes in CPI inflation. The report suggests that gold’s appeal as an inflation hedge is more complex and influenced by factors beyond just CPI, including monetary policy and investor behavior.

President Donald Trump announced plans to impose tariffs on imported pharmaceuticals, starting at a lower rate and potentially escalating to 250% within the next year to year and a half. He emphasized the goal of encouraging domestic manufacturing in key sectors such as healthcare and technology. Additionally, Trump threatened the European Union with increased tariffs if it fails to meet its $600 billion investment commitment in the United States, labeling the investment as a “gift”

The 10-year U.S. Treasury yield inched up to 4.218% on Tuesday as investors assessed developments related to President Donald Trump’s tariff rates and looked toward data on July’s services sector activity, slated for release later in the day. The benchmark 10-year note yield was 2 basis points higher, while the 30-year bond was less than 2 basis points higher. The 2-year Treasury note yield also climbed more than 2 basis points to 3.71%. The U.S. is expected to release the ISM non-manufacturing purchasing managers’ index, with analysts expecting the figure to come in at 51.5, up from 50.8 the previous