CoinDesk 2025-08-13 18:40:30

Trump Removal of BLS Commissioner Prompts Questions About Accuracy of Economic Stats

Donald Trump's dismissal two weeks ago Bureau of Labor Statistics Commissioner Erika McEntarfer and nomination of EJ Antoni as her replacement is generating plenty of "inside baseball" chatter among the political class. But did the president — as uncouth and ham-handed as his methods are — stumble upon a truth that was hiding in plain sight: that the government economic data relied upon by markets and business leaders for the allocation of hundreds of billions in capital just isn't very accurate? "I probably would have fired the head of the Bureau of Labor Statistics too," wrote Ray Dalio , founder and now former CEO of hedge fund giant Bridgewater. "Its process for making estimates is obviously obsolete and error-prone, and there is no good plan in the works for fixing it," he continued. Dalio noted that the massive downward revisions in May and June employment data included with the July report were "symptomatic" of the rot within the BLS. Private estimates, said Dalio, were far better. "I know a lot about because of how I use data to follow the economy and bet on where it's going," he said. Trump's nominated replacement atop the BLS, EJ Antoni, has called the agency's data "BS" and earlier this week suggested suspending monthly employment reports in favor of quarterly releases until improvements can be made. The BLS produces not just employment data, but also the Consumer Price Index, which for many years has faced criticism from all quarters for not accurately describing the inflation pressure felt by Americans.

Most Read News

U.S. GOVERNMENT’S ANNOUNCEMENT ON PHARMA SECT...
2025-08-13
Useless Coin Sparks Intrigue as Price Soars 4...
2025-08-13
Bitcoin Price Soars Past $122,000: What’s Dri...
2025-08-13
Ethereum ETF Flows in August Blow Past Post-M...
2025-08-13
ZachXBT Exposes 5 North Korean Workers Runnin...
2025-08-13
XRPL Validator Claims XRP Price Manipulation...
2025-08-13
Goldman Sachs Vice President Reveals When He...
2025-08-13
Top tech bosses are dumping billions into dea...
2025-08-13

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.