Institutions: Using the Bureau of Labor Statistics as a Scapegoat Will Undermine the Credibility of U.S. Economic Data

According to ChainCatcher, Ipek Ozkardeskaya, Senior Analyst at Swissquote Bank, stated that if U.S. nonfarm payrolls remain below 50,000 for six consecutive months, it would be considered a signal of economic recession. Therefore, the U.S. may already be halfway there. The good news is that heightened concerns about a recession have strengthened expectations for a Federal Reserve rate cut; the bad news is that a weak economy is not part of Trump’s promises. Rate cuts will not magically save the market, and blaming the consequences of chaotic government policies on the Bureau of Labor Statistics could undermine the credibility of U.S. economic data.