BLS Commissioner’s Removal of Trump pushes questions about the accuracy of economic statistics
Donald Trump’s dismissal two weeks ago by Bureau of Labor Statistics Commissioner Erika Mcentarfer and EJ Antoni’s nomination because his replacement forms a lot “within the baseball” chatter amid political class.
But does the president as Uncouth and Ham-Hands as his methods are — stated in a fact that hides in clear vision: that government economic data relies on markets and business leaders for the provision of hundreds of billions of capital is not very accurate?
“I probably fired the head of the Bureau of Labor Statistics,” Ray Dalio wrotefounder and now former CEO of the hedge fund giant bridgewater. “Its process for making estimates is obviously obsolete and prone to error, and there is no good plan for the works for its repair,” he continued.
Dalio noted that the massive downward changes to the May and June work data included in the July report “introduced” the rot within the BLS. Private estimates, Dalio says, are better. “I know a lot about how I use data to follow the economy and bet where it goes,” he said.
Trump’s nominated replacement above BLS, EJ Antoni, called the agency’s data “BS” and earlier this week Suggested suspension Monthly work report in favor of quarterly release until improvements have been made.
The BLS produces not only work data, but also the consumer price index, which for many years has faced criticism from all quarters for inaccurately describing the pressure of inflation that Americans have felt.
