Trump's firing of the labor statistics chief could lead to a financial crisis
By David Madland, senior fellow at the Center for American Progress
( MSNBC ) Donald Trump’s firing of Bureau of Labor Statistics Commissioner Erika McEntarfer for releasing truthful employment figures showing a faltering U.S. economy is clearly not good news. But the consequences might be even worse than you think.
Trump’s actions weren’t based on a methodological disagreement. He fired McEntarfer because he doesn’t like the U.S. government releasing accurate numbers about the state of our economy — at least not when they make him look bad. In the short run, with luck, the impacts could be relatively modest. In the long run, without reforms to ensure quality data, this will lead to significantly slower economic growth than in other countries, and perhaps even a financial crisis.
After McEntarfer’s firing, government economic data can no longer be trusted or relied upon under this administration. Trump will not be able to appoint anyone with credibility to take over as BLS commissioner when it’s already clear that person could be fired for releasing accurate data. The same goes for other statistical agencies, too. ..........(more)
https://www.msnbc.com/opinion/msnbc-opinion/trump-economy-jobs-bls-firing-rcna223206
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