Business Insights
  • Home
  • Crypto
  • Finance Expert
  • Business
  • Invest News
  • Investing
  • Trading
  • Forex
  • Videos
  • Economy
  • Tech
  • Contact

Archives

  • August 2025
  • July 2025
  • June 2025
  • May 2025
  • April 2025
  • March 2025
  • February 2025
  • January 2025
  • December 2024
  • November 2024
  • October 2024
  • September 2024
  • August 2024
  • July 2024
  • June 2024
  • May 2024
  • April 2024
  • March 2024
  • February 2024
  • August 2023
  • January 2023
  • December 2021
  • July 2021
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019

Categories

  • Business
  • Crypto
  • Economy
  • Finance Expert
  • Forex
  • Invest News
  • Investing
  • Tech
  • Trading
  • Uncategorized
  • Videos
Subscribe
Money Visa
Money Visa
  • Home
  • Crypto
  • Finance Expert
  • Business
  • Invest News
  • Investing
  • Trading
  • Forex
  • Videos
  • Economy
  • Tech
  • Contact
Trump's former jobs data chief decries firing of successor
  • Finance Expert

Trump’s former jobs data chief decries firing of successor

  • August 3, 2025
  • Roubens Andy King
Total
0
Shares
0
0
0
Total
0
Shares
Share 0
Tweet 0
Pin it 0

President Donald Trump’s firing of the chief labor statistician was criticized by her predecessor, who called it an unfounded move that will undermine confidence in a key data set on the US economy. 

“This is damaging,” William Beach, whom Trump picked in his first term to head the Bureau of Labor Statistics, said on CNN’s State of the Union on Sunday.

Trump on Friday fired Erika McEntarfer hours after labor market data showed weak jobs growth based in part on steep downward revisions for May and June. The move by Trump, who claimed the latest monthly report was “phony,” prompted an outcry from economists and lawmakers.

“I don’t know that there’s any grounds at all for this firing,” said Beach, whom McEntarfer replaced in January 2024. “And it really hurts the statistical system. It undermines credibility in BLS.”

Studies indicate that the agency’s data is more accurate than 20 or 30 years ago, including any revisions of the initial data, Beach said. Even so, he said he’ll trust future BLS data because people working for the agency are “some of the most loyal Americans you can imagine,” making the bureau “the finest statistical agency in the entire world.”

Bank of America CEO Brian Moynihan, speaking Sunday on CBS’s Face the Nation, urged the US government to improve its data collection to avoid revisions that engender distrust.

“We watch what consumers really do. We watch what businesses really do,” Moynihan said, while not addressing the politics of the firing. “They can get this data, I think, other ways, and I think that’s where the focus would be.”

He noted the revision for May and June data, while not unusual, was one of the largest in seven years. “That creates doubt around it,” he said. “Let’s spend some money. Let’s bring the information together. Let’s find where else in the government money is reported.” 

McEntarfer was confirmed by the Senate in a bipartisan 86-8 vote. Vice President JD Vance, then a senator, voted to approve her nomination.

Kevin Hassett, Trump’s chief economic adviser at the White House, alleged that the large jobs data revisions were poorly explained and were evidence enough for a “fresh set of eyes” at BLS. He sought to contradict Beach’s portrayal of the agency as politically neutral. 

“The bottom line is that there were people involved in creating these numbers,” Hassett said on NBC’s Meet the Press.

Read More: Trump Fires Labor Statistics Head, Prompting Concerns About Data

Pressed on whether Trump would fire anyone offering data he disagreed with, Hassett, who heads the National Economic Council, disagreed.

“No, absolutely not,” he said. “The president wants his own people there so that when we see the numbers, they’re more transparent and more reliable.”

Total
0
Shares
Share 0
Tweet 0
Pin it 0
Roubens Andy King

Previous Article
Dave Ramsey has blunt words on Medicare, Medicaid
  • Trading

Dave Ramsey has blunt words on Medicare, Medicaid

  • August 3, 2025
  • Roubens Andy King
Read More
Next Article
Singapore Savings Bonds SSB September 2025 Yield Falls to 2.11%
  • Invest News

Singapore Savings Bonds SSB September 2025 Yield Falls to 2.11%

  • August 3, 2025
  • Roubens Andy King
Read More
You May Also Like
Top Fed officials unswayed by poor July jobs report, take wait-and-see approach to rate cuts
Read More
  • Finance Expert

Top Fed officials unswayed by poor July jobs report, take wait-and-see approach to rate cuts

  • Roubens Andy King
  • August 4, 2025
Mortgage and refinance interest rates today, August 3, 2025: Rates remain high
Read More
  • Finance Expert

Mortgage and refinance interest rates today, August 3, 2025: Rates remain high

  • Roubens Andy King
  • August 4, 2025
Trump Media and Technology Group GAAP EPS of -alt=
Read More
  • Finance Expert

Trump Media and Technology Group GAAP EPS of -$0.08, revenue of $0.88M

  • Roubens Andy King
  • August 4, 2025
Trump’s firing of BLS commissioner decried as ‘groundless’ and ‘giving way to authoritarianism’
Read More
  • Finance Expert

Trump’s firing of BLS commissioner decried as ‘groundless’ and ‘giving way to authoritarianism’

  • Roubens Andy King
  • August 3, 2025
Oppenheimer Trims Amazon (AMZN) Price Target to 5 — AI Growth Still a Bright Spot
Read More
  • Finance Expert

Oppenheimer Trims Amazon (AMZN) Price Target to $245 — AI Growth Still a Bright Spot

  • Roubens Andy King
  • August 3, 2025
Stock market today: Dow futures drop amid recession fears
Read More
  • Finance Expert

Stock market today: Dow futures drop amid recession fears

  • Roubens Andy King
  • August 3, 2025
U.S. stock futures dip after Friday’s drop on Wall Street; oil falls as OPEC+ extends output boost
Read More
  • Finance Expert

U.S. stock futures dip after Friday’s drop on Wall Street; oil falls as OPEC+ extends output boost

  • Roubens Andy King
  • August 3, 2025
Apple CEO drops bombshell about its future
Read More
  • Finance Expert

Apple CEO drops bombshell about its future

  • Roubens Andy King
  • August 3, 2025

Recent Posts

  • Mastercard denies pressuring game platforms, Valve tells a different story
  • Allocation Update: Q1 2021 | Ethereum Foundation Blog
  • Bitcoin Drops 5% As Historical August Bearish Trend Continues
  • This Blue-Chip Dividend Stock Is Stuck in the Tariff Crosshairs. Can Cost Cuts Save the Day?
  • Crypto Market Update: Markets Pull Back After Fed Holds Interest Rates Steady
Featured Posts
  • Mastercard denies pressuring game platforms, Valve tells a different story 1
    Mastercard denies pressuring game platforms, Valve tells a different story
    • August 4, 2025
  • Allocation Update: Q1 2021 | Ethereum Foundation Blog 2
    Allocation Update: Q1 2021 | Ethereum Foundation Blog
    • August 4, 2025
  • Bitcoin Drops 5% As Historical August Bearish Trend Continues 3
    Bitcoin Drops 5% As Historical August Bearish Trend Continues
    • August 4, 2025
  • This Blue-Chip Dividend Stock Is Stuck in the Tariff Crosshairs. Can Cost Cuts Save the Day? 4
    This Blue-Chip Dividend Stock Is Stuck in the Tariff Crosshairs. Can Cost Cuts Save the Day?
    • August 4, 2025
  • Crypto Market Update: Markets Pull Back After Fed Holds Interest Rates Steady 5
    Crypto Market Update: Markets Pull Back After Fed Holds Interest Rates Steady
    • August 4, 2025
Recent Posts
  • Top Fed officials unswayed by poor July jobs report, take wait-and-see approach to rate cuts
    Top Fed officials unswayed by poor July jobs report, take wait-and-see approach to rate cuts
    • August 4, 2025
  • Apple CEO drops bombshell about its future
    Apple CEO drops bombshell about its future
    • August 4, 2025
  • How Disney is grappling with integrating AI into its filmmaking process while safeguarding IP and addressing legal uncertainty, fan backlash, and union concerns (Wall Street Journal)
    How Disney is grappling with integrating AI into its filmmaking process while safeguarding IP and addressing legal uncertainty, fan backlash, and union concerns (Wall Street Journal)
    • August 4, 2025
Categories
  • Business (1,360)
  • Crypto (755)
  • Economy (105)
  • Finance Expert (1,199)
  • Forex (755)
  • Invest News (1,644)
  • Investing (909)
  • Tech (1,346)
  • Trading (1,329)
  • Uncategorized (1)
  • Videos (777)

Subscribe

Subscribe now to our newsletter

Money Visa
  • Privacy Policy
  • DMCA
  • Terms of Use
Money & Invest Advices

Input your search keywords and press Enter.