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Trust in economic data is crucial
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This is Washington Edition, the newsletter about money, power and politics in the nation’s capital. Today, US economy reporter Augusta Saraiva looks at the reaction to the president’s pick to lead the Bureau of Labor Statistics. Sign up here and follow us at @bpolitics. Email our editors here.

Reliance

Trust in the government’s economic data is crucial for businesses, markets and everyday Americans. Trust in the person putting those numbers out is just as important.

President Donald Trump’s pick to lead the Bureau of Labor Statistics has a lot to prove on that score, based on the reaction he’s garnered from conservatives and liberals alike.

While EJ Antoni — whose nomination is subject to Senate confirmation — could revamp the BLS after a series of mishaps in recent years have raised questions about agency procedures, economists worry that his MAGA Republican views could threaten the long-standing tradition of nonpartisanship at the agency.

Antoni Source: Texas Public Policy Foundation

His vision for the BLS is already raising eyebrows from Wall Street to Washington. Antoni, whose plans include a “top to bottom” review of the agency, has floated the idea of suspending the government’s monthly jobs report — the gold-standard snapshot of the US labor market — until issues with data collection are corrected.

(White House press secretary Karoline Leavitt said putting out monthly reports remains “the hope.”)

Trump ousted former BLS Commissioner Erika McEntarfer after the agency’s Aug. 1 report showed weak job growth in July and revised downward the numbers from the prior two months by the biggest amount since the pandemic. 

The president declared — without evidence — that the numbers had been “rigged” to make him look bad.

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Unlike past commissioners, who typically came to the agency with decades of bureaucratic experience at BLS or other relevant government institutions, Antoni has spent most of his career at right-wing think tanks. He’s chief economist at the Heritage Foundation and was a contributor to the organization’s Project 2025.

A Heritage spokesperson said Antoni is declining all interviews.

BLS figures, including key reports on inflation and the labor market, are used by policymakers at Federal Reserve and all levels of government when assessing the trajectory of policy. While there are only so many changes Antoni could make at the BLS, his nomination has economists trying to figure out how some of the most prized US economic indicators will be handled going forward. 

Among them is Ryan Bourne, an economist at the libertarian think tank Cato Institute.

“With so many investment and policy decisions affected by official data reads, we all need confidence that they aren’t being politicized,” he said. —  Augusta Saraiva

Don’t Miss

US tariff revenue reached a fresh monthly record in July, though the increase wasn’t enough to prevent a widening of the monthly budget deficit — pointing to the federal government’s continuing fiscal challenges.

Underlying inflation accelerated in July though the cost of tariff-exposed goods didn’t rise as much as feared, boosting expectations that Federal Reserve officials will lower interest rates when they meet next month.

Fed Bank of Richmond President Tom Barkin said uncertainty about the direction of the economy is decreasing, but it’s still unclear whether policymakers should concentrate more on inflation or the job market.

Trump said he is considering pursuing a lawsuit against Fed Chair Jerome Powell over the renovation of the central bank’s headquarters, a project whose cost overruns have drawn scrutiny.

Treasury Secretary Scott Bessent, who has the ear of the president, discusses tariffs, deficits, and Trump's economic plan in an exclusive interview.

Harvard University has signaled it’s willing to pay $500 million for workforce training programs as part of a settlement with the White House to restore more than $2 billion in frozen federal funds.

The Justice Department accused George Washington University of violating civil rights law during pro-Palestinian student protests last year, making it the latest target of the Trump administration.

The State Department’s annual human rights report called out Brazil and South Africa while scaling back criticism of Israel and El Salvador, shifting its account of other nations’ abuses to align with Trump’s priorities.

The gunman who shot nearly 200 rounds into four buildings and two security guard stands on the CDC campus last week outlined his frustration with Covid vaccines before the rampage.

Two Department of Homeland Security agencies terminated contracts with employee unions, expanding Trump’s drive to strip labor rights from federal workers.

Watch & Listen

Today on Bloomberg Television’s Balance of Power early edition at 1 p.m., host Joe Mathieu interviewed Democratic Representative Jake Auchincloss of Massachusetts about Trump’s upcoming meeting with Russian President Vladimir Putin and the fight over redistricting in the US.

On the program at 5 p.m., he talks with Peter Navarro, senior White House counselor for trade and manufacturing, about today’s inflation report and tariffs.

On the Big Take podcast, Stacey Vanek Smith, host  of Bloomberg Businessweek’s “Everybody’s Business,” talks tariffs: Who’s paying, how is that money being collected and where is it going? Listen on iHeart, Apple Podcasts and Spotify.

Chart of the Day

The newly imposed US tariffs are upending the auto market. Canada imported more vehicles from Mexico than from the US in June for the first time in three decades, according to data from Statistics Canada, underscoring a broad shift that will reshape a key American industry. While the long-term effects remains unknown, the change so far is stark. In 2024, America ran an auto trade (and parts) surplus with Canada, as US exports of finished vehicles to Canada exceeded exports to Germany, Mexico and China combined. —  Alex Tanzi

What’s Next

The producer price index for July will be reported Thursday.

Retail sales for July will be reported on Friday.

Data on import and export prices in July will be reported Friday.

The University of Michigan’s preliminary read of consumer sentiment will be released Friday.

Housing starts and building permits for July will be reported on Aug. 19.

Minutes from the Fed’s last meeting will be released Aug. 20.

Existing home sales in July are set to be reported Aug. 21.

The House and Senate are on break until Sept. 2.

Seen Elsewhere

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