Billionaire Ray Dalio Calls for Overhaul of US Government Economic Data Estimates Amid BLS Controversy

Description

Bridgewater Associates founder Ray Dalio says the US government needs to rethink how it comes up with its economic data. Over the weekend, President Donald Trump fired the head of the Bureau of Labor Statistics, Erika McEntarfer, because of a large downward revision of job numbers. On Friday, the BLS revised down the job growth figures for June from 147,000 to 14,000, a 90% drop. Figures for May were also revised down from 144,000 to 19,000, bringing the combined two-month downward revision to 2...