Fed Chair Powell concerned about accuracy of evonomic data

[JimH52]

Fed chief Powell is starting to worry about the reliability of economic data

Cuts to the Bureau of Labor Statistics could be clouding jobs and inflation data, complicating the Fed's data-driven rate policymaking.

www.businessinsider.com

It's really important not just for the Fed, but for Congress and for businesses, frankly, to know what really is going on in the economy," Powell continued. "I don't like to see the kind of stories I'm reading and the idea being that the data is going to become more volatile and less reliable. That'll make it more difficult for the private sector and for you and for us."

Is the trump administration fixing the economic data or did the DOGE cuts gut agencies ability to gain accurate readings? Nothing coming from these people should be taken at face value.

 

[TemplarKormac]

Fed chief Powell is starting to worry about the reliability of economic data

Cuts to the Bureau of Labor Statistics could be clouding jobs and inflation data, complicating the Fed's data-driven rate policymaking.

www.businessinsider.com

It's really important not just for the Fed, but for Congress and for businesses, frankly, to know what really is going on in the economy," Powell continued. "I don't like to see the kind of stories I'm reading and the idea being that the data is going to become more volatile and less reliable. That'll make it more difficult for the private sector and for you and for us."

Is the trump administration fixing the economic data or did the DOGE cuts gut agencies ability to gain accurate readings? Nothing coming from these people should be taken at face value.

Wow. I can freely say that what I just read was a load of conspiratorial nonsense. What evidence do you have to suggest the Trump administration is "fixing the economic data?"

I used to be a neocon. I know how conspiratorial they can be. This... this is worse.

 

[IM2]

Wow. I can freely say that what I just read was a load of conspiratorial nonsense. What evidence do you have to suggest the Trump administration is "fixing the economic data?"

I used to be a neocon. I know how conspiratorial they can be. This... this is worse.

The last trump presidency is evidence.

 

[TemplarKormac]

The last trump presidency is evidence.

What are you talking about?

 

[Crepitus]

Fed chief Powell is starting to worry about the reliability of economic data

Cuts to the Bureau of Labor Statistics could be clouding jobs and inflation data, complicating the Fed's data-driven rate policymaking.

www.businessinsider.com

It's really important not just for the Fed, but for Congress and for businesses, frankly, to know what really is going on in the economy," Powell continued. "I don't like to see the kind of stories I'm reading and the idea being that the data is going to become more volatile and less reliable. That'll make it more difficult for the private sector and for you and for us."

Is the trump administration fixing the economic data or did the DOGE cuts gut agencies ability to gain accurate readings? Nothing coming from these people should be taken at face value.

The tRump *administration has decided to exclude government spending from economic data to hide the effects their cuts are having on the economy. Cut the budget and staffing for BLS.

Disbanding outside advisory groups, cuts to various agencies responsible for gathering data, letting outsiders like Elmo's techno tots muck about with things combined with the tRump *administration's well known propensity for playing fast and lose with the facts have all combined to sow doubt about the veracity of government economic data now.

I believe we are currently in a recession.

We will never know for real, though.

 

[Crepitus]

Wow. I can freely say that what I just read was a load of conspiratorial nonsense. What evidence do you have to suggest the Trump administration is "fixing the economic data?"

I used to be a neocon. I know how conspiratorial they can be. This... this is worse.

The previous tRump *administration.

 

[IM2]

What are you talking about?

The last trump presidency, where he made people shut up or get fired.

 

[JimH52]

Wow. I can freely say that what I just read was a load of conspiratorial nonsense. What evidence do you have to suggest the Trump administration is "fixing the economic data?"

I used to be a neocon. I know how conspiratorial they can be. This... this is worse.

You know trump is a champion liar.....wait...naw....you are maga....

 

[JimH52]

The tRump *administration has decided to exclude government spending from economic data to hide the effects their cuts are having on the economy. Cut the budget and staffing for BLS.

Disbanding outside advisory groups, cuts to various agencies responsible for gathering data, letting outsiders like Elmo's techno tots muck about with things combined with the tRump *administration's well known propensity for playing fast and lose with the facts have all combined to sow doubt about the veracity of government economic data now.

I believe we are currently in a recession.

We will never know for real, though.

Nope, we won't know until the next administration digs into the files of these liars.

 

[JimH52]

When Jerome Powell begins to question the accuracy of economic data, we have a "deep state" maga problem.

 

[Crepitus]

Nope, we won't know until the next administration digs into the files of these liars.

Look at the discrepancies between the government BLS jobs report and the independent ADP one from last month.

 

[talksalot]

Look at the discrepancies between the government BLS jobs report and the independent ADP one from last month.

Biden minions were constantly upgrading and downgrading their economic reports.
You should be okay with it by now.

 

[CrusaderFrank]

Fed chief Powell is starting to worry about the reliability of economic data

Cuts to the Bureau of Labor Statistics could be clouding jobs and inflation data, complicating the Fed's data-driven rate policymaking.

www.businessinsider.com

It's really important not just for the Fed, but for Congress and for businesses, frankly, to know what really is going on in the economy," Powell continued. "I don't like to see the kind of stories I'm reading and the idea being that the data is going to become more volatile and less reliable. That'll make it more difficult for the private sector and for you and for us."

Is the trump administration fixing the economic data or did the DOGE cuts gut agencies ability to gain accurate readings? Nothing coming from these people should be taken at face value.

$4.7 Trillion went out the door with no way of auditing it, but this is what concerns Powell

End

The

Fed

 

[The Irish Ram]

Powell...

 

[TemplarKormac]

The previous tRump *administration.

Oh boy, that's incredibly vague. Be more specific.

 

[C_Clayton_Jones]

Nothing coming from these people should be taken at face value.

Correct – the Trump WH is completely corrupt and dishonest, including falsifying economic data for perceived political advantage.

 

[Dekster]

The BLS has been tinkering with the numbers for pretty much my entire life by switching out as many goods as they can with what they consider comparable goods when that will drive the numbers down and therefore their cost of living adjustments down. This isn't peculiar to Trump other than now the BLS apparently is using models to create some of the data inputs. To help put the concerns into perspective for you MAGA folks---this is the same thing those climate people do to come up with models that the planet will melt the moon in 10 years if we don't all take a Greta yacht to work. Once modeled data is entered as if it is real, it contaminates the whole data set and alters the reliability of the information going forward when people start treating the data as if it is real (like happens with the oceans are boiling the crabbies alive it is so hot numbers).

 

[Papageorgio]

After four years of being lied to by the Biden administration and no one questioning it, this seems pretty lame.

 

[JimH52]

Biden minions were constantly upgrading and downgrading their economic reports.
You should be okay with it by now.

That is what good data analysis does. But musk and trump cannot be trusted. They are both liars and criminals.

 

[Crepitus]

Biden minions were constantly upgrading and downgrading their economic reports.
You should be okay with it by now.

That is because they were using real data and acknowledging that you must adjust when new facts become available.

tRump's laughable *administration will not do that. They will cherry-pick only the data that supports their pre-made conclusions and present that as if it is a fact.