彭博：特朗普重返华盛顿,市场数据面临威胁!

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - The integrity of critical economic data in the U.S. is under threat due to funding shortages and potential cuts in federal statistical agencies, particularly the Bureau of Labor Statistics (BLS) [1][5][10] - The decline in response rates for surveys, such as the Current Population Survey (CPS), poses a significant risk to data quality, with response rates dropping from nearly 90% a decade ago to around 70% today [8][10] - The financial implications of unreliable data are substantial, as evidenced by the global market's reaction to poor employment data, which resulted in a loss of $6.4 trillion in a matter of days [4][5] Summary by Sections Funding Challenges - The BLS and other statistical agencies have faced budget cuts, with BLS funding adjusted for inflation decreasing by nearly 20% since 2010 [5][10] - Current budget proposals from Congress are significantly lower than the recommendations from advocacy groups, indicating a persistent funding crisis [9][10] Data Quality Concerns - The BLS has experienced significant data release errors, leading to increased scrutiny and pressure from investors and lawmakers [5][6] - The reliance on outdated survey methods and the need for substantial investment in modern data collection techniques are critical for maintaining data integrity [8][16] Broader Implications - The quality of economic data affects not only financial markets but also policy decisions at various government levels, impacting everyday Americans [5][16] - The report highlights the importance of reliable statistics in guiding Federal Reserve decisions and corporate investment planning [5][16]