Market-Moving US Economic Data Is Under Threat | Big Take

From inflation data to unemployment rates, the US government releases numbers every month that move markets and shape policies. But the agencies responsible for gathering that data are struggling - and President-elect Donald Trump’s promise to find cuts across agencies could further strain their resources.
On today’s Big Take DC podcast, Bloomberg economics editor Molly Smith joins host Saleha Mohsin to dig into what’s at stake if the federal government scales back on its investment in economic data.
Read more:
Market-Moving Data Under Threat as Trump Returns to Washington (www.bloomberg....)
BLS Needs Culture Revamp After Botched US Releases, Review Finds (www.bloomberg....)
The Big Take from Bloomberg News brings you inside what’s shaping the world's economies with the smartest and most informed business reporters around the world. The context you need on the stories that can move markets. Every afternoon.
Subscribe to Bloomberg Podcasts: bit.ly/Bloombe...
Listen to more of The Big Take: • The Big Take | Bloombe...
#Bloomberg #Podcast #News #Business #Economy #TheBigTake
Visit us: www.bloomberg....
Follow Bloomberg Podcasts on Twitter: / podcasts
Visit our other TH-cam channels:
Bloomberg Television: / @markets
Bloomberg Originals: / bloomberg
Quicktake: / @bloombergquicktake
For coverage on news, markets and more: www.bloomberg.c...

[@MrSloika]

This is about pressure from private data. Agencies like the Census are prohibited by law from disclosing personal data, or allowing someone...or some group... to benefit from data by using that data to manipulate markets, etc. The Census, as a government funded agency, also has the advantage of collecting data in a comprehensive manner. The Census goes everywhere from big cities to the smallest villages in places like Alaska. Census also has the advantage of obtaining a higher participation rate because people are more likely to answer government than a private company. If agencies like the Census can be eliminated and Census function contracted out to private data collectors, the taxpayer will be paying for that data collection, the private data companies will collect that data in the guise of the Census thereby obtaining a higher response rate and once they have that data they will use in any manner they want despite any contractual agreement to adhere to the legal use of that data. The Census and other gov data agencies will be eliminated because the money to be made from improper use of that data is too great to be ignored by big business.

[@RM-cf4pw]

Why didn’t this discuss use of more AI and computer data and algos ….. seems all they want to do it hire more people and PHDs. Use computer data spread throughout the entire country and use AI generate reports. You need ppl to fill out reports? Then pay low income ppl $20 to complete an online survey. You DON’T need to send Govt working to household DOORS !!!! Be F N Smart

[@nappybiscuit]

They need to adapt to the many changes in culture and technology. The government needs to be much more innovative.