Hi, Shrewd!        Login  
Shrewd'm.com 
A merry & shrewd investing community
Best Of BRK.ABest OfAll BoardsThe Shrewd’m WeeklyLearn to InvestHow to Become Shrewd
Search
Shrewd'm.com Merry shrewd investors
Search
Best Of BRK.ABest OfAll BoardsThe Shrewd’m WeeklyLearn to InvestHow to Become Shrewd


The week's question
In December 2024, in the thread "Re: BRK: Why Not XOM?", BreckHutHigh asked the members: "What about the long road trips with kids?" This week it is put to everyone again. The button below opens the small thread re-asking it - read what others have said so far, then give your own answer as an ordinary reply.
Answer this questionContinue to Shrewd'mThis note won't appear again
Stocks A to Z / Stocks B / Berkshire Hathaway (BRK.A)
Unthreaded | Threaded | Whole Thread (13) |
Author: foolsgrad   😊 😞
Number: of 21944 
Subject: Re: The clown show has come for the data
Date: 08/02/25 6:33 PM
Post New | Post Reply | Report Post | Recommend It!
No. of Recommendations: 31
While I don't agree with the firing, the issue is not the poor July numbers. It is the large restatements for May & June. Trump likely feels if the original reported numbers were more accurate then the Fed would be more inclined to have lowered rates. Of course this may not be true, but the restatements were large and in the same direction. I just don't know who owns the numbers for accuracy? But it may not be unreasonable that it is the person at the top of the department.

First, the BLS releases multiple employment metrics. In addition to the jobs report, it publishes six different measures of unemployment. The Fed has access to all of these, along with its own data, when making interest rate decisions.

Second, large data revisions are, in fact, quite common, especially since the 2000s, as the U.S. economy has become increasingly service oriented. Unfortunately, service based sectors are harder to measure accurately, which has led to more frequent and more substantial revisions to both GDP and employment figures over time. This is not unique to the U.S. as similar patterns are observed in Britain as well. There is nothing nefarious or conspiratorial about it.

Finally, who owns the numbers for accuracy? Well, who determines BLS staffing levels? Who proposed cutting the BLS budget by 8%, forcing the agency to reduce sample sizes and data qualities of the job reports? That person owns the accuracy.
Post New | Post Reply | Report Post | Recommend It!
Print the post
Members reply directly to foolsgrad here — and replies get answered. Reading is free; so is joining the conversation. Join Shrewd'm »
This community has written 21,448 posts about Berkshire Hathaway. The article-length ones it recommended most:
BRK: Why Not XOM? · 62 recs · 2024
Second quarter comments · 60 recs · 2023
Berkshire's Profit Contributors · 57 recs · 2023
Summary of 2Q 2026 · 54 recs · 2026
3Q Summary · 53 recs · 2024
Unthreaded | Threaded | Whole Thread (13) |


Announcements
Berkshire Hathaway FAQ
Contact Shrewd'm
Contact the developer of these message boards.

Best Of BRK.A | Best Of | Favourites & Replies | All Boards | Followed Shrewds | Open Questions | Moving a community