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This is Washington Edition, the newsletter about money, power and politics in the nation’s capital. Today, White House reporter Gregory Kort
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This is Washington Edition, the newsletter about money, power and politics in the nation’s capital. Today, White House reporter Gregory Korte looks at Trump’s new demands from federal data-collectors. Sign up here and follow us at @bpolitics. Email our editors here.

Numbers Crunched

Donald Trump looks like he wants to put his stamp on some of America’s most important numbers.

The president told his Commerce Department to start work on “a new and highly accurate CENSUS based on modern day facts and figures” — one he said would exclude undocumented migrants from the count, and draw on last year’s presidential election results.

It’s the second time in a week that Trump has tangled with the most important US data-collecting agencies. Last Friday, after a weak jobs report, he fired the head of the agency that published it — the Bureau of Labor Statistics — alleging political bias without providingevidence.

Trump’s assault on federal scorekeepers has also extended to the Congressional Budget Office (which has given unflattering estimates of his tax bill’s impact on budget deficits) and the Government Accountability Office (which has declared many of Trump’s funding freezes illegal). Those offices report to Congress, not the president, so all he can do is complain when they produce reports he doesn’t like.

But both of Trump’s latest interventions into official number-crunching, which is typically carried out by nonpartisan technicians, have the potential to cause turmoil.

In the case of the census, the upheaval could be political. The headcount is used to determine each state’s representation in Congress, as well as federal funding for local communities. Excluding undocumented migrants — which Trump tried to do in his first term, before courts blocked him — might reduce the clout of Democratic strongholds in California and New York, though it would also hit GOP-voting Texas and Florida.

The US conducts a census every decade, with the last one carried out in the pandemic-disrupted year of 2020.

Census workers in New York during the Covid-disrupted 2020 count.  Photographer: Noam Galai/Getty Images North America

Trump didn’t say whether he wants to truncate this timetable or is merely laying the groundwork for the 2030 count. Nor is it clear how election results are supposed to factor in.

Meanwhile, the president is weighing who to put in charge at the BLS.

Investors shift billions of dollars around world markets based on the agency’s data, so any suspicion it could be massaged for political ends is potentially dangerous. Trump’s longtime adviser Steve Bannon, still influential in conservative circles, likely didn’t help allay such concerns when he called for a “MAGA Republican” to get the job.

Don’t Miss

Trump picked Stephen Miran, head of the White House Council of Economic Advisers, to fill a temporary vacancy on the Federal Reserve’s board of governors through January.

Fed Governor Christopher Waller is emerging as a top candidate among Trump’s advisers to take over from Jerome Powell as chair of the US central bank.

The Kremlin said Trump and Vladimir Putin are finalizing details for a summit within the next few days, as the White House insisted that the Russian leader should meet Ukrainian President Volodymyr Zelenskiy too.

Trump called on the chief executive officer of Intel Corp. to resign over what he called conflicts of interest, adding to the challenges for a company that’s key to a planned revival of the US semiconductor industry.

Trump signed an executive order easing access for private equity, real estate, cryptocurrency and other alternative assets in 401(k) retirement funds.

And he signed another one aimed at eliminating practices by banks and their regulators that result in customers being denied access to financial services for ideological reasons.

Atlanta Fed President Raphael Bostic said he still views one interest-rate cut as likely this year, and reiterated there are reasons to be skeptical that inflationary effects from tariffs will be temporary. 

Swiss leaders refrained from retaliation against the 39% tariff Trump imposed on the country, preferring to focus on further talks with the US.

Mortgage rates fell for a third straight week, hitting the lowest level since April at 6.63%, Freddie Mac said. 

Senator John Cornyn said the FBI has agreed to assist Texas authorities in locating Democratic lawmakers who left the state to block a vote on new congressional maps.

The Trump administration is ramping up a hiring spree at Immigration and Customs Enforcement, offering up to $50,000 signing bonuses and waiving age limits.

Inflation expectations rose in July among US consumers, according to a New York Fed survey. 

Recurring applications for unemployment benefits surged to the highest since November 2021, adding to recent signs that the labor market is weakening.

Watch & Listen

Today on Bloomberg Television’s Balance of Power early edition at 1 p.m., hosts Joe Mathieu and Kailey Leinz interviewed Miran about Trump’s tariffs and their impact on the economy.

On the program at 5 p.m., they talk with William Taylor, a former US ambassador to Ukraine, about the prospects for a summit between Trump and Putin.

On the Odd Lots podcast, Bloomberg’s Tracy Alloway and Joe Weisenthal talk to Joseph Torigian, a research fellow at Stanford's Hoover History Lab, about the family background of Chinese President Xi Jinping and the light it casts on governance of the country today. Listen on iHeart, Apple Podcasts and Spotify.

On the Big Take podcast, Bloomberg’s Max Abelson and Annie Massa join host David Gura to discuss the sources of the Trump family’s wealth. Listen on iHeart, Apple Podcasts and Spotify.

Chart of the Day

Global auto supply chains have changed dramatically over the past quarter-century, transforming the map of US car imports, now a key battleground in President Donald Trump’s trade war.  Between 1999 and 2024, total US automotive imports — including engines and parts — more than doubled to $475.5 billion. Countries often thought of as auto giants, like Japan and Germany, saw their share fall sharply, as did Canada. Meanwhile, imports from Mexico climbed the most, making the country America’s largest supplier. South Korea also contributed more, while China saw its share of US imports surge by around 500% — but it remains a relatively small player, accounting for just 5% of the total. — Alex Tanzi

What’s Next

The consumer price index for July will be released Aug. 12.

The producer price index for July will be reported Aug. 14.

Retail sales for July will be reported on Aug. 15.

The University of Michigan’s preliminary read of consumer sentiment will be released Aug. 15.

The House and Senate are on break until Sept. 2.

Seen Elsewhere

A growing number of wealthy Americans won’t settle for just one swimming pool in their home, and are stumping up cash for indoor and outdoor versions, the Wall Street Journal reported.

The Trump administration’s plan to incinerate $9.7 million in contraceptives stored in a Belgian warehouse has left European governments struggling to prevent the destruction, according to the New York Times.

Major detention facilities are starting to take shape at US military bases, with Fort Bliss on the Mexican border preparing to detain at least 1,000 undocumented immigrants this month, the Washington Post reported. 

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