Trump Is Undermining Trust in Official Economic Statistics. China Shows Where That Path Can Lead

President Trump’s repeated attacks on official economic statistics, particularly those from federal agencies and the Federal Reserve, are eroding trust in the data that has long been relied upon to make informed policy decisions and investments.

By sowing doubt about the accuracy and credibility of economic indicators, Trump is creating a climate of uncertainty and skepticism that can have negative repercussions on the economy and financial markets.

In contrast, China’s authoritarian regime has a history of manipulating economic data to portray a rosier picture of the country’s economic performance, which ultimately leads to a lack of transparency and accountability.

When official economic statistics cannot be trusted, it becomes difficult for businesses, investors, and policymakers to make accurate assessments and decisions, leading to increased volatility and risks in the markets.

Furthermore, undermining the integrity of economic data can damage the credibility of the government and institutions responsible for collecting and reporting the statistics, ultimately eroding public trust in the entire system.

It is essential for a functioning democracy and market economy to have reliable and accurate economic data that is free from political interference and manipulation.

By following China’s path of distorting economic statistics and shrouding data in secrecy, the United States risks sacrificing its reputation as a beacon of transparency and reliability in the global economy.

In conclusion, it is crucial for leaders to respect and uphold the independence and credibility of official economic statistics to ensure informed decision-making and maintain public trust in the integrity of the data that guides our economy.