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How America’s Data Backbone Is Eroding

Over the past few decades, the explosion of accessible data—from economic statistics to health and climate insights—has transformed decision-making, stabilized markets, and saved lives. But this data revolution is now under threat, especially within government agencies that produce the foundational statistics businesses, policymakers, and households rely on. Budget constraints, declining survey participation, political interference, staffing cuts, and repeated government shutdowns have weakened institutions like the Bureau of Labor Statistics, leading to delayed, suspended, or less precise economic data.

As federal data degrades, private-sector substitutes have proven insufficient, lacking the breadth and representativeness needed to fully capture the economy. The consequences ripple outward: the Federal Reserve struggles to set policy accurately, businesses lose their ability to plan, and individuals are forced to make career and financial decisions based on guesswork rather than facts. This erosion also fuels public distrust, pushing Americans to rely more on “vibes” than evidence. Ultimately, the piece argues that producing less data is not the solution to data overload—doing so risks empowering misinformation and undermining the effective functioning of a modern capitalist economy. Read More. 

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Dollar Surges as Metals Slide and Oil Falls on Hawkish Fed Bets

The US dollar jumped sharply, heading for its strongest two-day rally since April, driven by stronger-than-expected US manufacturing data and shifting expectations around Federal Reserve leadership. Precious metals, including gold and silver, extended their recent selloff after President Trump announced plans to nominate Kevin Warsh as the next Fed chair—a move markets interpret as more hawkish on inflation, strengthening the dollar and undermining gold’s appeal as a hedge against currency debasement.

Oil prices fell after comments suggesting renewed US-Iran talks, weighing on energy-linked currencies like the Canadian dollar and Norwegian krone. While the dollar’s rebound has forced investors to unwind crowded bearish positions, many strategists still expect longer-term weakness due to policy uncertainty and rising deficits. For now, markets are experiencing heightened volatility across currencies and metals as January’s dollar-selling frenzy reverses and February trading begins. Read More.