Doctored CPI reports are coming too, and even more damaging, because companies use CPI to calculate things like setting contracts and wage increases. If official statistics say inflation is 1.5%, but you know it's at least three times that, but it might be four, what do you do?
IPOs will drop to zero... nobody will be able to gauge the market.
I actually doubt that. There is so much over-exuberance in the market right now, they’re going to keep chugging, regardless of the factual or not data, and regardless of company guidance. With this move, Trump is setting up the entire market to be functionally all meme stocks, trading on feels.
AI is the only thing keeping the market strong.
I agree. Wall Street criminals will happily trade off bullshit data. The over exhuberance will keep it going until the implosion.