Fox News: Trump's Nominee for US Bureau of Labor Statistics Director Suggested Suspending Monthly Employment Report

According to Fox Business Channel cited by Jinshi, economist E.J. Antoni, nominated by US President Trump as the director of the Bureau of Labor Statistics, suggested suspending the agency's highly anticipated monthly employment report, citing fundamental flaws in its basic methods, economic models, and statistical assumptions. Prior to Trump's nomination announcement on Monday, Antoni criticized the unreliable data behind the monthly employment report in an interview, warning that it often gets exaggerated and misleads key economic decision-makers from Washington to Wall Street. Antoni stated, 'When businesses don't know how many job opportunities have been added or lost in our economy, how are they supposed to plan, or how should the Fed execute monetary policy? This is a serious issue that needs to be addressed immediately. The Bureau of Labor Statistics should suspend the release of the monthly employment report until the issue is corrected, but should continue to release more accurate, albeit less timely, quarterly data.' He added, 'Key decision-makers from Wall Street to Washington rely on this data, and lack of confidence in this data will have far-reaching consequences.'

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