The firing of BLS commissioner Erika McEntarfer raises concerns about monetary policy and economic outlook, particularly after recent incorrect job growth data. Economists warn about risks related to transparency and reliability in economic data. Critics, including the president's appointees, assert that the staff change aims for more accurate reporting. However, the president suggested that job numbers were manipulated to harm his image. Despite conflicting views, statistical agencies emphasize their commitment to accuracy in revising economic data, especially during significant economic shifts.
"The removal presents risks to the conduct of monetary policy, to financial stability, and to the economic outlook," wrote JPMorgan chief U.S. economist Michael Feroli.
"These revisions reflect the commitment of statistical agencies to accuracy, transparency, and methodological rigor-not failure or bias," leaders of the American Economic Association said in a statement Friday.
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