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Pethokoukis: Big extraordinary claims about economic data require big extraordinary evidence
CNBC Television· 2025-08-04 11:49
You've been analyzing economic metrics, financial markets for years now. Have you always trusted the numbers from the BLS despite who was in the White House. Listen, >> I I I think to make the claim uh that these numbers to quote the president have been rigged, uh I think big extraordinary claims require extraordinary evidence. And if the president is going to say this, he requires, I think, extraordinary evidence, uh, which I don't think exists.Listen, uh, you know, Bill Beach, that was a, you know, that w ...
Administration official: Firing of Bureau of Labor Statistics commissioner 'in process'
CNBC Television· 2025-08-01 19:28
Government Data Accuracy & Leadership Change - The White House is in the process of firing a commissioner, citing incompetence as the primary reason [2][3] - The decision to fire the commissioner was influenced by a reassessment of previous numbers, revealing a pattern of incompetence [3] - The President had been considering this action for months, indicating it wasn't a sudden decision [3][4] - The White House believes the firing is fully within the President's authority and is prepared for potential legal challenges [5] - The White House acknowledges revisions to data are normal, but the scale of revisions under the commissioner's tenure was significantly off [5][6] Market & Investor Confidence - The White House aims to reassure markets and investors by stating they will appoint a competent replacement who can ensure the accuracy of government data [6] - The White House believes the previous analysis was significantly flawed, leading to the need for a change in leadership [6][7]