No Result
View All Result
SUBMIT YOUR ARTICLES
  • Login
Saturday, September 20, 2025
TheAdviserMagazine.com
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
No Result
View All Result
TheAdviserMagazine.com
No Result
View All Result
Home Market Research Business

Trump’s former jobs data chief decries firing of successor

by TheAdviserMagazine
2 months ago
in Business
Reading Time: 2 mins read
A A
Trump’s former jobs data chief decries firing of successor
Share on FacebookShare on TwitterShare on LInkedIn



President Donald Trump’s firing of the chief labor statistician was criticized by her predecessor, who called it an unfounded move that will undermine confidence in a key data set on the US economy. 

“This is damaging,” William Beach, whom Trump picked in his first term to head the Bureau of Labor Statistics, said on CNN’s State of the Union on Sunday.

Trump on Friday fired Erika McEntarfer hours after labor market data showed weak jobs growth based in part on steep downward revisions for May and June. The move by Trump, who claimed the latest monthly report was “phony,” prompted an outcry from economists and lawmakers.

“I don’t know that there’s any grounds at all for this firing,” said Beach, whom McEntarfer replaced in January 2024. “And it really hurts the statistical system. It undermines credibility in BLS.”

Studies indicate that the agency’s data is more accurate than 20 or 30 years ago, including any revisions of the initial data, Beach said. Even so, he said he’ll trust future BLS data because people working for the agency are “some of the most loyal Americans you can imagine,” making the bureau “the finest statistical agency in the entire world.”

Bank of America CEO Brian Moynihan, speaking Sunday on CBS’s Face the Nation, urged the US government to improve its data collection to avoid revisions that engender distrust.

“We watch what consumers really do. We watch what businesses really do,” Moynihan said, while not addressing the politics of the firing. “They can get this data, I think, other ways, and I think that’s where the focus would be.”

He noted the revision for May and June data, while not unusual, was one of the largest in seven years. “That creates doubt around it,” he said. “Let’s spend some money. Let’s bring the information together. Let’s find where else in the government money is reported.” 

McEntarfer was confirmed by the Senate in a bipartisan 86-8 vote. Vice President JD Vance, then a senator, voted to approve her nomination.

Kevin Hassett, Trump’s chief economic adviser at the White House, alleged that the large jobs data revisions were poorly explained and were evidence enough for a “fresh set of eyes” at BLS. He sought to contradict Beach’s portrayal of the agency as politically neutral. 

“The bottom line is that there were people involved in creating these numbers,” Hassett said on NBC’s Meet the Press.

Read More: Trump Fires Labor Statistics Head, Prompting Concerns About Data

Pressed on whether Trump would fire anyone offering data he disagreed with, Hassett, who heads the National Economic Council, disagreed.

“No, absolutely not,” he said. “The president wants his own people there so that when we see the numbers, they’re more transparent and more reliable.”



Source link

Tags: chiefdatadecriesfiringJobssuccessorTrumps
ShareTweetShare
Previous Post

Iran’s currency has plunged so much in value that Tehran plans to chop off four zeros from the rial

Next Post

Apple CEO drops bombshell about its future

Related Posts

edit post
Ted Cruz blasts FCC chair’s ‘mafioso’ tactic to bench Kimmel

Ted Cruz blasts FCC chair’s ‘mafioso’ tactic to bench Kimmel

by TheAdviserMagazine
September 19, 2025
0

Senator Ted Cruz has become the most prominent Republican to criticize Federal Communications Commission Chair Brendan Carr, saying President Donald...

edit post
Meta’s Mark Zuckerberg says it’s ‘definitely a possibility’ that we’re in an AI bubble

Meta’s Mark Zuckerberg says it’s ‘definitely a possibility’ that we’re in an AI bubble

by TheAdviserMagazine
September 19, 2025
0

Deutsche Bank called it “the summer AI turned ugly.” For weeks, with every new bit of evidence that corporations were...

edit post
Force Motors bulk deal: BNP Paribas sells shares worth Rs 122 crore in multibagger stock

Force Motors bulk deal: BNP Paribas sells shares worth Rs 122 crore in multibagger stock

by TheAdviserMagazine
September 19, 2025
0

French multinational bank BNP Paribas sold 65,610 equity shares worth Rs 122 crore in Force Motors via a bulk deal...

edit post
Ashish Kacholia invests in Ganesh Consumer’s Rs 122 crore anchor round ahead of IPO

Ashish Kacholia invests in Ganesh Consumer’s Rs 122 crore anchor round ahead of IPO

by TheAdviserMagazine
September 19, 2025
0

Ganesh Consumer Products has raised about Rs 122 crore from anchor investors ahead of its IPO that opens on September...

edit post
Most CEOs admit they won’t boost U.S. investment as tariffs hurt their businesses

Most CEOs admit they won’t boost U.S. investment as tariffs hurt their businesses

by TheAdviserMagazine
September 19, 2025
0

Uncertainty is proving to be a major obstacle to President Donald Trump’s plans to revive the industrial sector as CEOs...

edit post
Norges Bank adds multibagger Cartrade Tech, 2 more smallcaps in Rs 209 crore worth bulk deals

Norges Bank adds multibagger Cartrade Tech, 2 more smallcaps in Rs 209 crore worth bulk deals

by TheAdviserMagazine
September 19, 2025
0

Norway's sovereign wealth fund on Friday bought shares of a multibagger Cartrade Tech along with two other smallcap stocks Aarti...

Next Post
edit post
Apple CEO drops bombshell about its future

Apple CEO drops bombshell about its future

edit post
Stock market today: Dow futures drop amid recession fears

Stock market today: Dow futures drop amid recession fears

  • Trending
  • Comments
  • Latest
edit post
What Happens If a Spouse Dies Without a Will in North Carolina?

What Happens If a Spouse Dies Without a Will in North Carolina?

September 14, 2025
edit post
California May Reimplement Mask Mandates

California May Reimplement Mask Mandates

September 5, 2025
edit post
Who Needs a Trust Instead of a Will in North Carolina?

Who Needs a Trust Instead of a Will in North Carolina?

September 1, 2025
edit post
Does a Will Need to Be Notarized in North Carolina?

Does a Will Need to Be Notarized in North Carolina?

September 8, 2025
edit post
DACA recipients no longer eligible for Marketplace health insurance and subsidies

DACA recipients no longer eligible for Marketplace health insurance and subsidies

September 11, 2025
edit post
Big Dave’s Cheesesteaks CEO grew up in ‘survival mode’ selling newspapers and bean pies—now his chain sells a  cheesesteak every 58 seconds

Big Dave’s Cheesesteaks CEO grew up in ‘survival mode’ selling newspapers and bean pies—now his chain sells a $12 cheesesteak every 58 seconds

August 30, 2025
edit post
What Happens When the IRS Commissioner Is Replaced?

What Happens When the IRS Commissioner Is Replaced?

0
edit post
Who Needs to Rate Lock and Refinance ASAP

Who Needs to Rate Lock and Refinance ASAP

0
edit post
*HOT* Old Navy: Buy One, Get One Free On Everything!

*HOT* Old Navy: Buy One, Get One Free On Everything!

0
edit post
WorkFusion Raises M to Scale AI Agents for Financial Crime Compliance Operations – AlleyWatch

WorkFusion Raises $45M to Scale AI Agents for Financial Crime Compliance Operations – AlleyWatch

0
edit post
Bitcoin: Breakout Above 7K Resistance Could Unlock Fresh Upside

Bitcoin: Breakout Above $117K Resistance Could Unlock Fresh Upside

0
edit post
Wells Fargo pulls from UBS, Osaic from Commonwealth

Wells Fargo pulls from UBS, Osaic from Commonwealth

0
edit post
7 Dog Breeds Vets Say Are Far More Expensive Than People Realize

7 Dog Breeds Vets Say Are Far More Expensive Than People Realize

September 19, 2025
edit post
Ted Cruz blasts FCC chair’s ‘mafioso’ tactic to bench Kimmel

Ted Cruz blasts FCC chair’s ‘mafioso’ tactic to bench Kimmel

September 19, 2025
edit post
BitGo files S-1 for potential IPO

BitGo files S-1 for potential IPO

September 19, 2025
edit post
Kevin Durant has access restored to Coinbase bitcoin account after years

Kevin Durant has access restored to Coinbase bitcoin account after years

September 19, 2025
edit post
Nvidia eyes 0M investment into self-driving tech startup Wayve

Nvidia eyes $500M investment into self-driving tech startup Wayve

September 19, 2025
edit post
4 Surprising Health Benefits of Getting Flu Shots

4 Surprising Health Benefits of Getting Flu Shots

September 19, 2025
The Adviser Magazine

The first and only national digital and print magazine that connects individuals, families, and businesses to Fee-Only financial advisers, accountants, attorneys and college guidance counselors.

CATEGORIES

  • 401k Plans
  • Business
  • College
  • Cryptocurrency
  • Economy
  • Estate Plans
  • Financial Planning
  • Investing
  • IRS & Taxes
  • Legal
  • Market Analysis
  • Markets
  • Medicare
  • Money
  • Personal Finance
  • Social Security
  • Startups
  • Stock Market
  • Trading

LATEST UPDATES

  • 7 Dog Breeds Vets Say Are Far More Expensive Than People Realize
  • Ted Cruz blasts FCC chair’s ‘mafioso’ tactic to bench Kimmel
  • BitGo files S-1 for potential IPO
  • Our Great Privacy Policy
  • Terms of Use, Legal Notices & Disclosures
  • Contact us
  • About Us

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.