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Story summary
- The Bureau of Labor Statistics (BLS) is under scrutiny for its data collection methods amid a government shutdown.
- President Trump dismissed former BLS Commissioner Erika McEntarfer after significant payroll data revisions.
- Analysts doubt the accuracy of upcoming inflation reports, with the Consumer Price Index (CPI) projected at 3.1% annual inflation.
- Goldman Sachs cautions that optimistic GDP estimates may be overly positive due to insufficient employment data.
- Chief economist Jan Hatzius indicates job market stagnation, particularly impacting younger workers, as the Federal Reserve is expected to cut rates.
