Retribution will come if Kamala Harris discusses Joe Biden's cognitive decline, according to journalist Mark Halperin.
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Trump Selects EJ Antoni To Lead The Bureau Of Labor Statistics
U.S. President Donald Trump tapped EJ Antoni, chief economist at the Heritage Foundation, to lead the Bureau of Labor Statistics, saying on Truth Social that he wants numbers that are honest and accurate. The job requires Senate confirmation. Warning! GuruFocus has detected 6 Warning Signs with INTC. The move comes after Trump fired BLS Commissioner Erika McEntarfer on August 1 following a weak July jobs report and downward revisions to the prior two months. Antoni has been outspoken about BLS methods and revisions, so expect tough questions on data independence, seasonal adjustments and how he would handle future revisions if confirmed. Economists across the spectrum quickly defended McEntarfer and the BLS, calling the agency a gold standard for apolitical statistics. Critics warn that politicizing labor data could erode investor trust, complicate Federal Reserve communication and inject more volatility into payrolls days if market participants start doubting the goalposts. credible labor data anchors rate expectations, equity risk premia and Treasury pricing. Even minor doubts can move nomination puts BLS governance in the spotlight. Watch the Senate process and the next jobs reports for any sign of methodological shifts. This article first appeared on GuruFocus. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
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White House says chips deals could perhaps expand to other companies
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Trump's pick for BLS suggested suspending monthly jobs report
(Bloomberg) — EJ Antoni, President Donald Trump's pick to lead the Bureau of Labor Statistics, has suggested suspending the agency's monthly jobs reports and publishing only quarterly numbers until issues with data collection are corrected. In an interview with Fox Business before Trump nominated him on Monday, Antoni said businesses can't plan and the Federal Reserve can't conduct monetary policy when the monthly report is unreliable and frequently overstated and thus misleading. 'Until it is corrected, the BLS should suspend issuing the monthly job reports but keep publishing the more accurate, though less timely, quarterly data,' he said, according to Fox Business. 'Major decision-makers from Wall Street to DC rely on these numbers, and a lack of confidence in the data has far-reaching consequences.' The jobs report is one of the so-called Principal Federal Economic Indicators, which Congress requires, by law, to be published according to a prescribed date on a calendar that statistical agencies submit to the White House a year in advance. William Beach, who was BLS chief during Trump's first term, said that those reports can be held up if there was evidence of malfeasance or criminal undermining, but a commissioner can't prevent its publication. 'The commissioner has very few powers to change the context of a report or suspend a report,' Beach said. 'The president could probably hold it up under his executive powers, but there's certainly nothing the commissioner could do.' Beach did note, however, that the commissioner can authorize the suspension of some parts of reports under certain circumstances. For example, in the early months of the pandemic when many businesses were closed, Beach had BLS drop publication of wholesale price data on industrial diamonds. If confirmed by the Senate, Antoni would succeed Erika McEntarfer, whom Trump abruptly fired Aug. 1 after a BLS report showed weak job growth in July and substantial downward revisions to the prior two months. Trump accused her, without evidence, of manipulating the numbers for political purposes, while noting that she was appointed by former President Joe Biden. Michael Horrigan, who spent over a decade at BLS overseeing its employment and inflation programs, said the implications of pausing the monthly jobs report would be 'very concerning,' and impact Wall Street and public trust in the agency. It would also have a ripple effect on other series within the jobs report, like data on state and local employment and wages, he said. 'A much simpler solution to eliminate the impact of revisions is to delay the publication of a given month until the full sample has been delivered and eliminate the noise of revisions,' Horrigan said. (Updates with comments from former BLS officials) ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
