The former CEO of General Electric, Jack Welch, said that the job numbers had been traced. How did it go?

President Trump agrees that the number does not reflect the reality of unemployment, although it has reached a very different conclusion last week to decide that the figures were “false” and “rigged” to under-represent the robustness of the labor market. He was so crazy about the July job report, which showed that unemployment turned up to 4.2%, that he decided to dismiss the BLS commissioner, Erika Mcentarfer on Friday.

I immediately thought of the reaction when the former CEO of General Electric, Jack Welch, tweeted his disdain on the work numbers under the Obama administration in October 2012. Welch, a life republican, was skeptical about the fact that the unemployment rate had fallen below 8% for the first time in four years with an electoral ball. He tweeted: “Incredible job figures … These Chicago guys will do anything … cannot debate the figures.”

Welch had been withdrawn from General Electric for more than a decade at that time and had a lot of opinions as a columnist for Fortune. However, there was the indignation that a head of stature attacked the integrity of a vital non-partisan government agency and the integrity of the United States itself by suggesting that basic economic data were politicized. Welch left the Fortune Gig in the middle of the heel on the tweet.

But he did not move away from his assertion. “I am not the first person to question the numbers of the government, and I hope that I will not be the last,” he wrote in a Wall Street Journal OP-ED. He compared the return of the flame he faced with Soviet Russia and Communist China. What Welch, a man who claimed to reduce the 10% of Ge’s workforce each year, did not do: call the BLS commissioner to be dismissed.

Contact the CEO every day via Diane Brady in Diane.brady@fortune.com

Top news

When Rupert Murdoch dies …

President Trump’s defamation trial against the Wall Street Journal claims that Murdoch, 94, is so old that he may not be tried. Fortune take a look at To what happens to the Murdoch family when the patriarch passes and discovers that his business is structured in a way that guarantees that everything except the conflict.

Trump continues false claims on BLS

President yesterday continued his tirade Against Erika MCENTARFER, the former head of the Labor Statistics Office, which he dismissed on Friday. He called the BLS work numbers “a scam”. He has shown no evidence that the figures are manipulated and, in fact, no serious person thinks that the number of jobs is rigged. In factThe numbers are sampled, estimated and revised regularly. This is how statistics work!

New governor of the Fed and BLS leader entering

The president is expected To appoint a new BLS chief this week and also fill a position on the Fed board of directors in the coming days. What to monitor: whether their candidates are credible or not credible. Among Possible candidates are Kevin Hassett, currently director of the National Economic Council of the White House, Kevin Warsh of the Hoover Institution in Stanford and the secretary of the US Treasury Scott Bessent, says the FT.

Trump Sends Search for a complete Gaza Agreement

Steve Witkoff Wit met families Israeli hostages held by Hamas and told them that Trump was looking for a complete end of the Gaza conflict with all the returned hostages, not a fragmentary agreement. “Hamas said it was ready to demilitarize. But even in addition to that, several Arab governments now demand that Hamas demilitarialise. We are therefore very very close to a solution around this war,” said Witkoff. Hamas said he would only disarm once he has his own state with Jerusalem as capital. This scenario is extremely unlikely to be acceptable to Israel. Meanwhile, Hamas published a video an emaciated hostage being forced to dig his own grave.

China stifles the supply of rare land of the American army

China controls 90% of the rare mineral and price offer. Some elements are now prices between five and 60 times higher than the standard price, reports the WSJ. The shortages are acutely felt by US military kit manufacturers. Manufacturers need minerals for drones, fighter planes, microelectronics, night vision glasses, missile targeting systems and satellites, WSJ reports.

The Moody economist warns against the recession

The chief economist of Moody’s Analytics, Mark Zandi citing A poor job report, low consumption expenditure and an increase in inflation. Zandi then blamed prices and a “highly restrictive immigration policy” for economic slowdown.

Boeing’s bet on the future

A conflict with the company union and many security scandals have had a significant effect on the results and reputation of Boeing in recent years. Fortune‘s shawn tully outline How the aircraft manufacturer bets on his product manager of 39 -year -old planes to organize a turnaround.

Lara Trump broadcast an Epstein discussion

The daughter-in-law of the president and former co-president of the Republican interviewed the host of Radio Charlamagne Tha God SundayAnd his guest arose that “the traditional conservatives will bring the republican party” because they are so angry that the White House refuses to publish all the files he holds on Jeffrey Epstein. Trump was not happy to hear this. He called Charlamagne a “racist sleazebag” and “an individual from qi low, has no idea of the words that come out of his mouth and did not know anything about me or what I did”, ” On social truth.

Markets

Future S&P 500 increased by 0.7% this morning, pre-market, after the closing of the 1.6% index on Friday. Stoxx Europe 600 increased by 0.64% at the start of negotiations. UK FTSE 100 increased by 0.49% at the start of negotiations. Japanese Nikkei 225 fell 1.25%. China CSI 300 increased by 0.39%. South Korea Kospit increased by 0.91%. India NIFTY 50 increased by 0.6%. Bitcoin remains more than $ 114,000.

Analysts

ING on the Fed: “The Friday soft work report eliminated the dollar rally farce. Investors are now attached a probability of 80% to a rate drop of 25 bp of the federal reserve in September, “according to Chris Turner et al.

Goldman Sachs on interest rates: “The bellicist reading of the American market at the FOMC press conference on Wednesday quickly faded after the report on Friday jobs opened a clearer path to the cuts,” according to George Cole et al.

Goldman Sachs on us GEP: “We expect GDP to increase at an annualized rate of 1% in 2025T3 and 2025T4, with almost stable interior sales and jump solutions from a narrowing of the trade deficit and a rebound in the accumulation of inventory”, according to Jan Hatzius et al.

JPMorgan on business profits: “With 65% of S&P 500 companies having reported, the season has so far been better than expected. 77% of companies beat income 2q (against 73% AVG. Last 4qs, etc.) and 76% beat income estimates (vs 60%). Lakos-Bujas et al.

Around the river

Infiltrations of North Korean IT workers have exploded by 220% in the last 12 months, Genai has armed at each stage of the job process By Amanda Gerut

Sheryl Sandberg, Bill Gates and the best CEOs in the world swear by the same daily habit – this career trainer says that Gen Z can easily steal it to succeed by Orianna Rosa Royle

A vacancy on the Fed opens early while Trump urges the board of directors to “assume control” if Powell does not reduce the rates By Marco Quiroz-Guierrez

Berkshire Hathaway of Warren Buffett sold actions and did not do good business when the markets collapse after the “Liberation Day” by jason ma

The surprise winner of Figma IPO is a charity with 13 million actions – and a famous background frame which sparked a bitter quarrel on an oil fortune decades ago By Allie Garfinkle

The CEO Daily is compiled and edited by Joey Abrams and Jim Edwards.

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