from Politico
President Donald Trump’s pick to lead the Bureau of Labor Statistics is floating the idea of suspending the monthly jobs report in favor of less-frequent quarterly data published by the statistical agency.
E.J. Antoni said that BLS should halt issuing the reports — which are widely relied upon by economists, the Federal Reserve, Wall Street and other businesses to gauge the state of the economy in close to real time — until its methods can be improved to limit subsequent revisions.
“How on earth are businesses supposed to plan — or how is the Fed supposed to conduct monetary policy — when they don’t know how many jobs are being added or lost in our economy?” Antoni said in an interview with Fox News Digital released Tuesday.
“Until it is corrected, the BLS should suspend issuing the monthly job reports but keep publishing the more accurate, though less timely, quarterly data,” said Antoni, who is currently the chief economist at the conservative Heritage Foundation...
read more here
No comments:
Post a Comment