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Ray Dalio, founder of Bridgewater Associates, has called for an overhaul of US economic data methodologies following the controversial firing of the Bureau of Labor Statistics (BLS) chief. The dismissal came after significant downward revisions to job growth figures, sparking concerns about data accuracy and political interference.
- June's job growth was revised down by 90%, from 147,000 to 14,000, raising concerns about economic slowdown.
- Ray Dalio supports reforming US economic data methods but warns against politically motivated firings.
- Private sector job estimates were more accurate than the BLS's initial figures, highlighting systemic flaws.
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