With the firing of the head of the Bureau of Labor Statistics Erika McEntarfer, the present administration has made the world a worse place. The work that they do in estimating the national accounts is incredibly important to firms, policymakers, and to voters. Without the knowledge of what conditions in the economy are like, we cannot evaluate the impact of policies.
Without the knowledge of what conditions in the economy are like, we cannot evaluate the impact of policies. Firms will have difficulty making plans for the future, and will be less able to know if the shocks they face are idiosyncratic or general. This is not one of those rare instances (like I covered recently) where less information is better.
This is not one of those rare instances (like I covered recently) where less information is better. The accusations manage to be both baseless and logically incoherent.