Can we still trust US economic data? With Erica Groshen

John Burn-Murdoch interviews Erica Groshen, former Commissioner of the Bureau of Labor Statistics, about the implications of President Trump's firing of Erica McEntarfer, the then-current BLS Commissioner. They discuss the role of the BLS, the potential for political influence on economic statistics, and the impact of funding cuts and declining response rates on data quality. Groshen expresses concern about the future of US economic statistics, highlighting the importance of independent and reliable data for informed decision-making. She proposes consolidating federal statistical agencies into an independent entity and warns against the dangers of politicizing data, referencing historical examples of countries that suffered economic turmoil after manipulating statistics. The conversation also touches on the cooling US economy and the potential risks of further political interference with institutions like the Federal Reserve.