Disbanding Key Economic Committees

The Commerce Department's decision to disband two advisory committees, the Federal Economic Statistics Advisory Committee and the Bureau of Economic Analysis Advisory Committee, raises concerns about the quality of U.S. economic data. These groups provided essential expert insights to help shape economic measurement methodologies and ensured transparency with the public, according to former committee members. The committees had served for decades, and their removal is viewed as a detrimental step by economists who believe it will compromise the accuracy of data on vital economic indicators like GDP, jobs, and inflation. Critics argue that without expert guidance, the government may struggle to produce reliable economic statistics, impacting business decisions and policymaking.