Jeremy Siegel on the BLS: 'Who is reporting wrong and why?'

Data Accuracy & Transparency - The industry expresses concern over the BLS response rate dropping to 60%, deeming it unacceptable for a crucial statistic [1] - The industry demands transparency and explanation regarding a significant error made in the past 50 years [2] - The industry criticizes the delay in report releases, considering it unacceptable in the current digital age [3] Monetary Policy Impact - The industry suggests that weaker numbers would have likely led to a rate cut at the July meeting [4] - The industry notes the inversion of the term structure, measuring from Fed funds to the 10-year, indicating a need for lower rates than 433 basis points (433%) [4] Call for Action - The industry urges the BLS to improve its processes [5] - The industry suggests making questionnaires mandatory with time limits to improve response rates [1]