Fox: The director of the U.S. Bureau of Labor Statistics nominated by Trump once suggested pausing the release of the monthly employment report
ChainCatcher news, according to a report by Jinshi citing Fox Business Channel, economist E.J. Antoni, who has been nominated by President Trump to be the head of the Bureau of Labor Statistics, suggested pausing the agency's highly anticipated monthly employment report, stating that its fundamental methods, economic models, and statistical assumptions have inherent flaws.Before Trump's nomination announcement on Monday, Antoni criticized the reliability of the data behind the monthly employment report in an interview, claiming it is often exaggerated and warning that it misleads key economic decision-makers from Washington to Wall Street.Antoni stated, "How are businesses supposed to plan when they don't know how many jobs have been added or lost in our economy, or how the Federal Reserve should implement monetary policy? This is a serious issue that needs to be addressed immediately. The Bureau of Labor Statistics should pause the release of the monthly employment report until the issues are corrected, but should continue to release more accurate, albeit less timely, quarterly data," he said, "The main decision-makers from Wall Street to Washington, D.C. rely on this data, and a lack of confidence in it can have far-reaching effects."