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Fed chief Powell is starting to worry about the reliability of economic data

Discussion in 'Too Hot for Swamp Gas' started by G8tas, Jun 28, 2025 at 10:44 AM.

  1. Jun 28, 2025 at 10:44 AM #1
    G8tas

    G8tas GC Hall of Fame

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    "It's really important not just for the Fed, but for Congress and for businesses, frankly, to know what really is going on in the economy," Powell continued. "I don't like to see the kind of stories I'm reading and the idea being that the data is going to become more volatile and less reliable. That'll make it more difficult for the private sector and for you and for us."

    That means inflation, employment, and other economic measures that the Fed and other institutions depend on to determine policy might be less accurate than they were in the past.

    DOGE cuts on government funding could be a culprit. BLS wasn't spared from budget cuts earlier this year, and a proposal in Trump's Big Beautiful Bill is looking to further reduce the agency's budget by $56 million.

    Fed chief Powell is starting to worry about the reliability of economic data

    Thanks to DOGE we now have less data inputs and more guesses based on historical data. So in reality we have no idea what is going on
     
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  2. Jun 28, 2025 at 10:48 AM #2
    vaxcardinal

    vaxcardinal GC Hall of Fame

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    401k balance does give one a hint of what might be going on
     
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  3. Jun 28, 2025 at 10:59 AM #3
    PITBOSS

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    although we’re only 5 months into Trump admin so it’s still a bit too soon to tell, but agree, economic data does impact 401ks.

    These reports are more than just fun factoids. They influence industries and markets. if this admin starts taking a sharpie to economic data will make our economy less efficient and weaken our country.
     
    Last edited: Jun 28, 2025 at 11:21 AM
  4. Jun 28, 2025 at 11:03 AM #4
    vaxcardinal

    vaxcardinal GC Hall of Fame

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    guess its just the OP who has no idea what's going on
     
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  5. Jun 28, 2025 at 11:21 AM #5
    ETGator1

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    LOL! I worried about reliability of data for 4 years during the Biden Office of the Presidency.

    Get in line Jerome Powell. You deserve to be fired you democratic party cahooting biased fed chairman.
     
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  6. Jun 28, 2025 at 11:57 PM #6
    luvtruthg8r

    luvtruthg8r Premium Member

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    I'm sorry, but this is an ignorant post.
     
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  7. Jun 29, 2025 at 3:31 PM #7
    gatorpa

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    Both sides have been picking at the others data since Obama.

    Powell has not appeared to be partisan.

    He did wait to long to cut rates in 2018 and waited to long to raise in 2021 IMHO.
     
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  8. Jun 29, 2025 at 5:19 PM #8
    luvtruthg8r

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    He engineered a very difficult soft landing that certain buffoons have been trying to derail.
     
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  9. Jun 29, 2025 at 6:43 PM #9
    channingcrowderhungry

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    I like that we outperformed every other first world country when it came to Covid inflation and you got a disagree on this. Some people hate stats
     
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  10. Jun 29, 2025 at 11:37 PM #10
    gatorpa

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    I’ll agree with the first part for sure.

    I don’t think anyone is trying to ruin the landing on purpose and so far it hasn’t happened.
     
  11. Jun 30, 2025 at 12:19 AM #11
    luvtruthg8r

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    Well, they ARE trying, but they (or more correctly, most) are trying to ruin the soft landing out of ignorance...it's as simple as that!
     
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