What was Chairman Bernanke remarks toward the bureau of labor statistics?”

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What was Chairman Bernanke remarks toward the bureau of labor statistics?”

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Reliable economic statistics produced by the U.S. government are important to Federal Reserve policymakers as well as millions of ordinary Americans wanting to keep tabs on jobs, wages and prices at stores, Fed chairman Ben Bernanke said. ———— Bernanke offered those observations in prepared remarks celebrating the 125th anniversary of the Labor Department’s Bureau of Labor Statistics, the agency responsible for producing a raft of economic reports, including monthly employment figures, consumer prices, wholesale prices, employment costs and productivity. “Clearly the timeliness and the reliability of your labor market and price reports are critical to us,” Bernanke said. The agency’s reports also help the public understand economic trends, he added. Fed policymakers weigh all kinds of economic data in deciding the direction of interest rates. The Fed on Wednesday decided to hold a key bank lending rate at a record low near zero to help brace the economy, which has been stuck in

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Brief Remarks I am pleased to lead off this distinguished group in congratulating the Bureau of Labor Statistics (BLS) on its 125th anniversary. The legislation creating the BLS had its roots in several important and lasting shifts in our nation’s political landscape during the late 19th century. The first shift was heightened concern about the material well-being of working men and women. Just as important, was the movement to make government agencies independent and impartial. President Chester A. Arthur signed the bill into law after he had signed the Pendleton Act, which took a big step toward establishing the basic principle that federal employees should serve on the basis of merit and not their political affiliation. Thus, from its start, the BLS was poised for a solid tradition of public service.

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