Commerce Dept discontinues ORT balance of payments metric, Phil Magness notes

Traders Union
All News
Market Voices
Commerce Dept ended ORT series 1976

Top Stories

Editors' Picks

Crypto

Financial News

Currencies

Market Voices

Companies

Regulators

Central Banks

Mikhail Vnuchkov

06.03.2026

Commerce Dept discontinues ORT balance of payments metric, Phil Magness notes — Commerce Dept ended ORT series 1976

The U.S. Commerce Department considered dropping the official reserve transactions (ORT) as the main measure of the balance of payments deficit in 1976.

Phil Magness shared the department's discussion from that year, noting that ORT was the key metric used for interpreting Section 122 at the time.

Loading...

The tweet was deleted by the author.

But we saved everything 🙂.

Phil Magness’s analysis of the Commerce Department’s deliberations resonates with his previous examination of U.S. reserve deficits versus trade balance surpluses in the 1960s and early 1970s, as detailed in his review of U.S. trade and reserve trends during that era. The ongoing debate over official metrics for economic assessment also aligns with his scrutiny of the pro-tariff claims regarding inflation and the Consumer Price Index, highlighting the complexities policymakers face when interpreting economic data.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

Did you like the article?

Editor's Picks for You

Intel's comeback: Apple, Trump and the AI bet

By Mikhail Vnuchkov
16 hours ago

Intel's comeback: Apple, Trump and the AI bet

Editors' Picks

Bitcoin price prediction based on RSI: Is BTC poised for a new rally?

By Oleg Tkachenko
Yesterday

Bitcoin price prediction based on RSI: Is BTC poised for a new rally?

Editors' Picks

Toncoin becomes Gram: Why Durov restored token's original name

By Anastasiia Chabaniuk
16.06.2026

Toncoin becomes Gram: Why Durov restored token's original name

Editors' Picks

All Editors' Top Picks

Latest Phil Magness News

Marx received detailed reports on U.S. cotton markets from Engels, Phil Magness notes

By Yulia Slavina
3 hours ago

Marx received detailed reports on U.S. cotton markets from Engels, Phil Magness notes

Market Voices

Phil Magness: Saez and Zucman Billionaire Tax challenges traditional U.S. tax law

By Ivan Andriyenko
13.06.2026

Phil Magness: Saez and Zucman Billionaire Tax challenges traditional U.S. tax law

Market Voices

Marxist economics PhD programs request bailout due to financial struggles, Phil Magness notes

By Ashutosh Sureka
06.06.2026

Marxist economics PhD programs request bailout due to financial struggles, Phil Magness notes

Market Voices

All Phil Magness News

Mikhail Vnuchkov
16 hours ago

Intel's comeback: Apple, Trump and the AI bet

Oleg Tkachenko
Yesterday

Bitcoin price prediction based on RSI: Is BTC poised for a new rally?

Anastasiia Chabaniuk
16.06.2026

Toncoin becomes Gram: Why Durov restored token's original name

Kyle Torpey
15.06.2026

Why Tether flipping Ethereum is a pivotal moment for crypto

Eugene Komchuk
15.06.2026

MiCA deadline: Why crypto companies are leaving Europe

Dmytro Kharkov
21 min ago

Fed bond-buying has lost hundreds of billions and reform is urgent, David Malpass argues

Parshwa Turakhiya
26 min ago

Peter Brandt: Silver near perfect descending triangle if Feb. 6 low was $2.50 lower

Artem Shendetskii
27 min ago

Byron Donalds: Economic experience shapes affordability priorities

Yaroslav Dmytrenko
37 min ago

California moves to allow banks to offer BTC services, Dennis Porter notes

Hanna Syniavska
56 min ago

Fed hawkishness contrasts with ongoing government spending, Otavio (Tavi) Costa argues

Weekly Top Bonuses

Capitalcore

up to $2,500
deposit bonus for all clients

Your capital is at risk.

Top News

Olga Shendetskaya
9 hours ago

Goldman sees Warsh remarks as new risk for two-year Treasuries

Goldman sees Warsh remarks as new risk for two-year Treasuries

Andrey Mastykin
11 hours ago

G7 calls for stronger fight against North Korean crypto theft

G7 calls for stronger fight against North Korean crypto theft

Eugene Komchuk
11 hours ago

First oil tankers cross Strait of Hormuz after U.S.-Iran agreement

First oil tankers cross Strait of Hormuz after U.S.-Iran agreement

Ivan Andriyenko
16 hours ago

U.S. futures rise as investors weigh Iran deal and Fed

U.S. futures rise as investors weigh Iran deal and Fed

Mikhail Vnuchkov
16 hours ago

Intel's comeback: Apple, Trump and the AI bet

Intel's comeback: Apple, Trump and the AI bet

Top 5 companies for you

United States

Live News

Anton Kharitonov
Now

Microsoft balances AI investment with investor expectations

Anton Kharitonov
Now

Apple maintains strong fundamentals despite market pressures

Mykhailo Ihnatenko
Now

SPCX pulls back for the first time: Can SpaceX optimism sustain rally?

Anton Kharitonov
Now

Bitcoin tests major support after hawkish Fed signal

Mykhailo Ihnatenko
Now

Intel jumps on Apple foundry hopes: Can INTC reach new highs?

© IAFT Ltd., 2010-2026 All rights to the website are owned by IAFT Ltd.,
Registration number - HE 336186

Risk disclosure:

Information on the TradersUnion.com website is for informational purposes only and does not constitute any motive or suggestion to visitors to invest money. Moreover, we hereby warn you that trading on the Forex and CFD markets is always a high risk. According to the statistics, 75-89% of customers lose the funds invested and only 11-25% of traders earn a profit. Trading in futures and options carries substantial risk of loss and is not suitable for every investor.

That is why you should only invest money that you are prepared — or can afford — to lose at such high risks. Tradersunion.com does not provide any financial services, including investment or financial advisory services. Also, the Traders Union is not a broker and does not get money for trading in the Forex or CFD markets. Our website only provides information on brokers and the markets and helps its users to select the best brokerage company based on detailed information and objective analysis of brokers.
Disclaimer:

Traders Union (TradersUnion.com) shall not be liable for the consequences of trading decisions made by the Client and for the possible loss of his capital resulting from the use of this website and information published on it.

Forex market, CFD and cryptocurrency trading involves high risks and is not suitable for everyone. Before investing money, you need to adequately assess the level of your expertise and be aware of the risks, particularly in the context of trading with leverage. The information on this website is not intended for distribution or use by any person in any country or jurisdiction, where such distribution or use would be in violation of the local law or regulation. Any payments by Traders Union (TradersUnion.com) to the users of our website shall be legally interpreted solely as an incentive on our part for the activity on the website in the form of a deduction of a part of the advertising income; they shall not be a subject of any claims of our users or our obligations, a subject of disputes, as well as cannot be considered in relation to the services provided to users by brokers, both in fact and in their completeness and volume. The administration of the website shall not be liable for the content of user comments and reviews about the companies and shall not verify whether the authors of the reviews are indeed real clients of a specific company. All reviews, both negative and positive are published on the website without verification of their reliability; only offensive reviews that call for violence or any kind of discrimination and also reviews published from one group of IP addresses are moderated and removed. The authors of the materials shall be fully liable for the accuracy, completeness and impartiality of any information in the articles and reviews, including in the context of their use or mention of any brand names or trademarks. All mentions of the names of companies and their brands in any materials on the website shall be made in the context of communication of socially important information to the people about their activities by independent journalists, who are the authors. All evaluations and indicators on the website express the subjective opinion of the authors of the reviews (articles) and shall not be viewed as accurate statements and be a subject of disputes and claims against Traders Union.
Disclosure of advertisers and revenues:

All the services on the Tradersunion.com website are free for you to use. Our team spends thousands of hours per annum researching brokers and gathering information about them to help investors all over the world to choose reliable companies and to avoid fraudsters.

Indeed, the curating, sourcing, and organization of this process requires substantial financial investment by Tradersunion.com, which the website earns in the form of advertising payments. There are two types of advertising services on the website — direct advertising or partner (broker) participation programs. However, no services purchased by our partners shall affect the recommendations on our website, or our opinions, or ratings. Our ratings are based on our objective rating criteria and methodology; and the results are always equally and fairly applied to each broker. The work of our content authors and research groups does not involve any interaction with our advertisers and they do not have access to data concerning the amount of advertising purchased. For over 10 years we consider our independence, absolute openness, and objectivity as our main priority. Please follow the links to each of our affiliated broker’s websites. This will help Tradersunion.com to continue to provide our services to you for free.