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EXPLAINED: Erica groshen | Vintage Vibes

Powell cuts rates in the dark in historic move, with no jobs data and Trump heckling from abroad

For the first time in modern history, the Fed cut rates without jobs data, acting amid a government shutdown, rising unemployment, and open pressure from the president, who wants Powell gone.

Fortune

Former BLS chief warns Powell is “flying blind” at a pivotal time for the Fed

A once-obscure data-sharing deal between ADP and the Fed helped shape monetary policy for years—until it abruptly vanished.

Fortune

US Delays Key Jobs Report Due To Government Shutdown

The United States suspended the publication of a key employment report Friday as a partial government shutdown entered its third day, casting a fog over the health of the world's biggest economy.

International Business Times

From analysis to the latest developments in health,
read the most diverse news in one place.

Former Labor Bureau Chief Says 910,000 March Payroll Revision 'Unusually Big,' But Still 'Normal Procedure'

Former Bureau of Labor Statistics Commissioner Erica Groshen defended the agency's recent payroll revision that shaved 910,000 jobs off its March estimate, describing it as “unusually big” but well within the bounds of standard practices at the bureau.

Benzinga

Trump names conservative economist to lead labour statistics agency

US president’s nomination comes after firing of agency head raised concerns about integrity of US government statistics.

Al Jazeera

It’s ‘not easy to manipulate data’, warns former labor statistics chief after Trump fires bureau head

Erica Groshen says she’s worried about US president bending bureau to his will, but hopes he ‘won’t go that far’

The Guardian - US

Trump’s latest firing just created a massive headache for whoever has to clean up the mess he’s leaving behind

The numbers you trust? Not anymore.

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Trump firing of statistics chief puts US data credibility at risk, experts warn

Erika McEntarfer’s exit could push US into category of countries found to have massaged economic data

The Guardian - US

Banana republic? Trump puts credibility of US economic data on the line

Trump’s firing of the head of the Bureau of Labor Statistics raises fears for the integrity of official statistics.

Al Jazeera

U.S. data quality has been declining for years. Now Trump’s cutbacks are leading economists to question its figures

More squishy data could lead to errors for businesses, investors, and even the Federal Reserve.

Fortune

US Fed Set To Make First Rate Cut Since 2020

The US Federal Reserve is all but certain to cut interest rates on Wednesday for the first time in more than four years, a significant move likely to ripple through global financial markets.

International Business Times

‘We deserve more’: US workers’ share of the pie dwindles

Bureau of Labor Statistics releases latest estimate of how much labor receives of national income, showing bleak decline

The Guardian - US

Workers are getting angry about companies ending vaccine mandates

It’s not just JPMorgan Chase & Co. that’s hiring unvaccinated workers again.

People

Jerome Too Late Powell

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