It’s not the people who directly compile the economic statistics at the Commerce Department precisely. It’s an expert panel which advises those people on how to do it correctly. Commerce Secretary Howard Lutnick fired them at the end of last month.
> U.S. President Donald Trump’s administration has disbanded two expert committees that worked with the government to produce economic statistics, potentially affecting the quality of data.
> The terminations by Commerce Secretary Howard Lutnick were effective February 28 and communicated on Tuesday via email to one of the panels, the Federal Economic Statistics Advisory Committee (FESAC), which assisted with inflation and employment gross domestic product (GDP) data.
OrganicKeynesianBean on
+30% GDP incoming
boardatwork1111 on
Definitely a sign the economy is doing great
Xeynon on
It was inevitable that as soon bad economic data began rolling in they’d move to start cooking the books. It’s authoritarianism 101.
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It’s not the people who directly compile the economic statistics at the Commerce Department precisely. It’s an expert panel which advises those people on how to do it correctly. Commerce Secretary Howard Lutnick fired them at the end of last month.
> U.S. President Donald Trump’s administration has disbanded two expert committees that worked with the government to produce economic statistics, potentially affecting the quality of data.
> The terminations by Commerce Secretary Howard Lutnick were effective February 28 and communicated on Tuesday via email to one of the panels, the Federal Economic Statistics Advisory Committee (FESAC), which assisted with inflation and employment gross domestic product (GDP) data.
+30% GDP incoming
Definitely a sign the economy is doing great
It was inevitable that as soon bad economic data began rolling in they’d move to start cooking the books. It’s authoritarianism 101.