Economist: Trump's actions will undermine the credibility of US statistics

economists warned that the Trump administration's significant cuts to federal staff and research funding could weaken the quality and credibility of US "gold standard" statistical data. From employment reports to inflation indices, US data can shake Wall Street's $105 trillion stock and bond markets in milliseconds and form the basis for policies that influence the trajectory of the world's largest economy.

Ricardo Reis, professor at the London School of Economics and adviser to the Richmond Federal Reserve Bank, said: "All cuts in federal funding, as well as some layoffs promoted by the government efficiency department... are often a fatal blow to already tense survey work." He added: "The survey work behind data such as the Consumer Price Index and Gross Domestic Product - I think all of these surveys could be affected."