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White House slams 911K jobs revision, the largest on record, demands Fed rate cut

1. BLS revised job growth down by 911,000, largest correction on record. 2. Trump calls for Federal Reserve to cut rates to stimulate the economy. 3. Labor Department emphasizes need for accurate, unbiased labor data. 4. New leadership aims to modernize data collection for better transparency. 5. Critics argue current methodologies for job data reporting are flawed.

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FAQ

Why Bearish?

The significant downward revision of job numbers signals economic weakness, affecting investor confidence. Historically, large corrections in economic data often correlate with declines in stock indices.

How important is it?

The revision of jobs data is crucial for economic forecasts, influencing Fed policy and market stability, hence its significant relevance.

Why Short Term?

Immediate market reactions to economic data suggest a likely short-term impact, reflecting investor sentiment and potential monetary policy adjustments leading to volatility.

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