Notes on the Crises on Bloomberg Odd Lots: Lev Menand and Nathan Tankus on Why Fed Independence Is Now Hanging by a Thread
Last August, President Trump made the unprecedented choice of moving to fire Fed governor Lisa Cook
OMB
A collection of 9 posts
The Devil is in the Footnotes: The Fourth and Fifth Levers OMB Has Over Agencies
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Russell Vought is Using the Plumbing of Fiscal Federalism to Create a New Patronage System
EDITORS NOTE: I (Nathan) have struggled whether to rush to comment on this proposed OMB rule. Being a recent Fiscal Year 2026 OMB memo, and knowing that the OMB will continue to create
What Connects Conventional Wisdom Processors, AI and The Second Trump Administration’s Constitutional Crisis? Part Three
This is a premium piece of Notes on the Crises. Subscribe here to read the full piece- and series. Find part one here and part two here. Dear readers. I was interrupted by
Agency Independence in One Agency: Humphrey’s Executor is Cowering in the Basement of the Eccles Building
Today is the 6th anniversary of Bloomberg Businessweek's profile on me, which forever changed my life. Its so long ago now that many readers may not actually be familiar with it,
The Medium is the Message: The First Three Levers OMB Has Over Agencies
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“It’s Like a Knife in the Back”: The President's Budget, Budget Preparation and the Most Important Job You've Never Heard of
This is a free piece of Notes on the Crises. All pieces in this OMB series will be free. Please take out a paid subscription to support this work. Or leave a tip.
What Ever Happened to DOGE? The “OMBification” of the Trump-Musk Payments Crisis
Dear readers: My deepest apologies for my absence. I got the so-called “Super-Flu” that hit New York in December, then I followed that up with a very debilitating bout of food
What the Hell is a Government Shutdown Anyway? The Accounting Gimmicks at the Heart of the Federal Budget
Subscribe Today! So the federal government is shut down. I’ve been late to covering this story because of my focus on events at the Federal Reserve. Well, that was true when I