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File: 1741636779876.png 786.27 KB, 680x655, floyd_cat.png

 No.8977

https://www.reuters.com/world/us/trump-administration-disbands-two-expert-panels-economic-data-2025-03-05/

WASHINGTON, March 4 (Reuters) - U.S. President Donald Trump's administration has disbanded two expert committees that worked with the government to produce economic statistics, potentially affecting the quality of data.
The terminations by Commerce Secretary Howard Lutnick were effective February 28 and communicated on Tuesday via email to one of the panels, the Federal Economic Statistics Advisory Committee (FESAC), which assisted with inflation and employment gross domestic product (GDP) data.
The email read in part "the Secretary of Commerce has determined that the purposes for which FESAC was established has been fulfilled and the committee has been terminated, effective February 28 2025." The second group - the Bureau of Economic Analysis Advisory Committee, which consulted on a separate group of economic data - was also terminated.
"This will impact the quality of data because it's a core principle of federal statistical agencies that they continually improve and innovate," Erica Groshen, a former FESAC member, told Reuters. "Without a robust flow of information and advice between experts outside their agencies, it's going to be harder for them to do that."
The Commerce Department and the White House did not immediately respond to a request for comment Tuesday evening.
Groshen, who is also a former Bureau of Labor Statistics (BLS) commissioner, said FESAC was made up of academics, private-sector economists and data scientists, and focused on continually improving economic data produced by the BLS as well as the Commerce Department's statistical agencies, the Census Bureau and Bureau of Economic Analysis.

>create recession through retarded tarrifs

>fire the people who tally up the gdp
>reccession? What recession? Looks good to me!

Picture unrelated.

 No.8979

I used to work for the census until last month lol. I think a lot of the stats they collect are actually important, but the methods they use to gather data are intrusive and not necessarily accurate. How do they get the data? They send letters for people to fill out a questionnaire. About 1% of Americans are randomly selected. If you don't fill it out someone will show up to your house to do an in-person interview and they will pester you for months unless you do it, or until you're deemed too much of a burden. A lot of people will avoid you, a lot of people will lie(and we will accept any answers they give), a lot of people leave most information out of the forms they fill out online. Sometimes frustrated FRs just make shit up because they're sick of dealing with someone and need to complete cases before a performance review. Sometimes they look your information up on public databases and just assume it's correct. You might wonder why they go through this trouble? You might think to yourself "doesn't the government have all my information already?" The answer is yes and no, because federal agencies can't legally share information with each other willy-nilly. Census data can't even be used against you in court actually. Just because you pay taxes doesn't mean any other agency knows anything about you, and that's probably a good thing. I doubt we'd want every federal employee to have a complete database of your private information. In any case, is the data even reliable? Not entirely, but it's still probably good enough to get a grasp on how things are trending. If the surveys were more focused and didn't ask a litany of personal questions on a variety of different issues they would probably get a better response rate and more truthful answers.

 No.8981

>>8979
While the census data may not be entirely reliable, it's probably still better than nothing at all. I'd like to think the majority of people who take the survey (I've done it myself) were honest with their answers. Most people aren't liars I think.

Maybe I'm just being overly optimistic.

 No.8982

>>8981
If you mean you took the survey in 2020, everyone does the decennial. People are understandably a lot more reluctant to do any other survey like the ACS though. Another big problem is that thanks to Pajeets most people will assume you are a scammer by default.

 No.8983

>>8982
2009 iirc. I didn't have a phone at the time so a woman visited my house to badger me about it.

 No.9006

Are we really going to overlook how the economy shat itself under Biden?



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