Bill Beach on How Trump Just Politicized US Economic Data

In a recent episode of the Odd Lots podcast, hosts Tracy Alloway and Joe Weisenthal discuss the implications of recent revisions to the jobs report and the controversial firing of the head of the Bureau of Labor Statistics (BLS). They bring on Bill Beach, former Commissioner of Labor Statistics, to provide insights into the data collection process, the reasons behind the revisions, and the potential impact of political interference on the credibility of economic statistics. The conversation covers the importance of modernizing data collection methods, the challenges faced by the BLS, and the potential damage to public trust if political motivations are perceived to influence the agency's work. Beach emphasizes the professionalism of BLS staff but acknowledges the risk of skepticism following the commissioner's dismissal.