Core Viewpoint - The appointment of E.J. Anthony as the new director of the Bureau of Labor Statistics (BLS) by President Trump is seen as a move to ensure the accuracy and integrity of employment data amidst recent controversies regarding data manipulation and significant downward revisions of non-farm payroll figures [1][3][4]. Group 1: Appointment and Background - E.J. Anthony, an economist and chief economist at the Heritage Foundation, has been nominated to replace the recently dismissed Erica McEntyre as the BLS director [1][3]. - Trump's decision to fire McEntyre was based on dissatisfaction with weak non-farm payroll data, which he accused her of manipulating for political reasons without providing evidence [3][4]. - The BLS has a reputation for producing data that is considered the "gold standard" globally, and there are concerns that this reputation may be at risk following the recent leadership change [3][4]. Group 2: Data Revisions and Economic Implications - Recent revisions to employment data showed a downward adjustment of 258,000 jobs for May and June, marking the largest downward revision since the COVID-19 pandemic began [3]. - The average job growth over the past three months has been only 35,000, shifting perceptions of the labor market from "robust" to "nearly stagnant" [3]. - These new data have raised questions about the Federal Reserve's decision to maintain interest rates, especially given Trump's previous pressure to lower borrowing costs [3]. Group 3: E.J. Anthony's Views and Future Actions - Anthony has been critical of the BLS's methods for collecting employment data and has called for a comprehensive review of the agency's data collection, processing, analysis, and dissemination practices [5]. - He advocates for increased transparency by suggesting that the BLS should publish more information on its website [5]. - The position of BLS director is appointed by the president and requires Senate confirmation, typically spanning across different administrations [5][6].

Core Viewpoint - The U.S. Treasury Secretary expects economic data to be revised, indicating potential changes in economic outlook [1] Economic Performance - The U.S. GDP showed strong performance in the first quarter, with expectations for data revisions [1] Inflation Policy - The current policies are aimed at reducing inflation [1] Interest Rates - The yield on the 2-year U.S. Treasury bonds is below the federal funds rate, suggesting that the Federal Reserve should consider lowering interest rates [1]