The Director of the National Economic Council of the White House, Hassett, recently publicly criticized the data quality of the Bureau of Labor Statistics, stating that this data has become 'very unreliable.' This statement has drawn widespread attention, as the data from the Bureau of Labor Statistics has always been an important basis for the government in formulating economic policies and for the market in judging economic trends.
As a core member of Trump's economic team, Hassett's remarks are certainly not baseless. According to informed sources, there is indeed widespread concern within the White House about the accuracy of recent key economic data such as employment and inflation. Especially during the unique period of the pandemic, changes in data collection and processing methods may lead to statistical results showing deviations.
It is worth noting that this is not the first time that senior officials in the U.S. government have questioned official data. As early as the Obama administration, economists pointed out that indicators such as the unemployment rate failed to accurately reflect the conditions of the labor market. However, direct public criticism like that of Hassett is still quite rare.
Analysts believe that this statement may be based on two considerations: first, to leave room for future adjustments in economic policies; second, to manage market expectations in advance and avoid excessive reactions to data fluctuations. After all, during an election year, the political sensitivity of economic data significantly increases.
However, some experts are concerned that such public criticism may undermine public trust in government statistical agencies. As an independent statistical agency, the credibility of the Bureau of Labor Statistics is crucial for market operations. How to maintain the authority of the agency while ensuring data transparency has become a challenge for the government.