The Wall Street Journal

Trump’s BLS Firing Tests Wall Street’s Reliance on Government Data

Some fear a decline in the world-leading economic statistics underpinning U.S. markets

Traders, seen here on the floor of the New York Stock Exchange, follow economic data.
Traders, seen here on the floor of the New York Stock Exchange, follow economic data. Photo: angela weiss/Agence France-Presse/Getty Images

Wall Street’s love affair with government data looks headed for splitsville.

Investors have long parsed economic reports on the labor market or inflation to help determine prices for stocks and bonds. But after weak jobs data on Friday prompted President Trump to fire Erika McEntarfer, the top Bureau of Labor Statistics official, the sacrosanct importance of U.S. government data to investors suddenly came into doubt.

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White House Preps Order to Punish Banks That Discriminate Against ConservativesExternal link

White House Preps Order to Punish Banks That Discriminate Against Conservatives