News

Jinse Finance reported that, according to sources, five weeks after President Trump dismissed the head of the U.S. Bureau of Labor Statistics, his advisers are preparing a report outlining the flaws in the Bureau's employment data. The report takes a critical look at the Bureau of Labor Statistics and provides an overview of the history of revisions to the agency's employment data. The Trump administration is considering releasing this research report, written by the Council of Economic Advisers, in the coming weeks. The U.S. Bureau of Labor Statistics will release the annual non-farm benchmark revision data tonight (the 9th). (Golden Ten Data)

Jinse Finance reported that Democratic members of the U.S. Senate Banking Committee have demanded that, before the Republican-controlled Senate Banking Committee takes further steps to advance Milan’s nomination, he must commit to resigning from his position as White House Chief Economic Advisor by September 8. At last week’s nomination confirmation hearing, Milan stated that he only needed to take unpaid leave from the White House Council of Economic Advisers, as his Federal Reserve position would only last until the end of January next year. Democratic senators pointed out that Milan’s term could be longer, depending on how long it takes to confirm his successor, and that Milan’s dual role as a Federal Reserve governor and Trump advisor creates a potential conflict. In a letter to Milan, Democratic lawmakers stated: “The claim that you can exercise independent judgment on monetary policy and financial regulation is absurd. Without such a commitment, we believe the committee should not advance your nomination.” (Golden Ten Data)