Interactive Brokers: The Integrity and Authenticity of US Data Will Be Called into Question

According to Jinse Finance, Steve Sosnick, Chief Strategist at Interactive Brokers, stated that Kugler had previously missed the most recent FOMC meeting for personal reasons, so he believes this (resignation) statement is quite credible. However, this provides an opportunity for President Trump to appoint a super-dovish candidate. What is even more concerning is the dismissal of the Director of the Bureau of Labor Statistics. Although there were clearly issues within the agency, with unprecedented large-scale data revisions, it is unprecedented for a president to dismiss an official simply because he dislikes the data, without truly determining the cause. This is not a good sign. It raises questions about whether the information is trustworthy and impartial. If statisticians are subject to the president’s political whims, then the authenticity of the data will be called into question.