Bill Beach on How Trump Just Politicized US Economic Data

Late last week, Donald Trump shocked Wall Street by firing Erika McEntarfer, the head of the Bureau of Labor Statistics, the agency responsible for publishing some of America's most important economic data. The firing came after the BLS released a weaker than expected jobs report for July, with just 73,000 new jobs added for the month (compared to forecasts for 103,000). The bureau also revised jobs numbers for the prior two months down by nearly 260,000 jobs. Trump called the data "rigged." But why does the BLS make these revisions, and what does the firing of the BLS chief mean for anyone trying to gauge the direction of the US economy? In this episode, we speak to Bill Beach, a former BLS chief, about the latest drama in US economic statistics. Read more:Trump to Name New Fed Governor, BLS Head in Coming DaysS&P 500 Bounces 1% After Weak Jobs Data Stokes Rate-Cut Optimism Only Bloomberg - Business News, Stock Markets, Finance, Breaking & World News subscribers can get the Odd Lots newsletter in their inbox each week, plus unlimited access to the site and app. Subscribe at bloomberg.com/subscriptions/oddlotsSee omnystudio.com/listener for privacy information.

Speaker names marked ? are inferred from speaking time and the show’s known hosts — they are not voice-verified.

• 0:00Speaker 00

  Finance is increasingly being built on digital rails. But as the adoption of virtual assets, tokenization and stable coins grows, can regulation not only keep pace but help accelerate it? Find out more later in the podcast.

• 0:16Speaker 01

  This is the Bloomberg Tech Minute brought to you by ChatGPT. I'm Carol Muster. Getting hired at SpaceX requires exceptional ability and may include having Elon Musk review a candidate's resume. So writes Bloomberg Business Week's Lauren Grush. She reports that the company culture is defined by Musk and job candidates must understand that a commitment to SpaceX means adhering to this culture and exhibiting loyalty to Elon Musk. To get hired, candidates must demonstrate their achievements from past jobs and hands-on experience matters more to recruiters than advanced degrees, with the company looking for people with raw innate intelligence. A spokesperson for SpaceX didn't respond to a request for comment on its recruiting

• 0:58Speaker 01

  and hiring practices, but according to recruiters, advisors and those who've interviewed for jobs there, it's the space exploration dream that draws people to the company and Musk invokes that dream regularly to remind workers why they're there. Prospective hires are told that the job will require stamina, including in job ads that candidates quote "must be willing to work extended hours and weekends as needed." One major perk for all that hard work? Employees' access to equity, either the right to buy shares or payment in the form of restricted stock units that vest over time. That's the Bloomberg Tech Minute brought to you by ChatGPT. Get started at chatgpt.com.

• 1:39Speaker 02

  For big business, AI opened up a world of promise, but that world of promise turned into a world of pain. Costs spiraling, data trapped, security and governance risks multiplying, and ROI out of reach. That's why enterprises turned to Boomi to connect data, apps and AI, helping them operate securely, efficiently and at scale. Boomi turns a world of AI pain into a world of AI gain. As Boomi says, "We got you." Head to Boomi.com. That's B-O-O-M-I dot com.

• 2:11Speaker 03

  Being a small business owner isn't just a career, it's a calling. Chase for Business knows how much heart and effort go into building something of your own. Manage all your business finances, from banking to payments to credit cards, all in one place with Chase's digital tools. Plus, access online resources designed to help your business thrive. Learn more at chase.com/business. Chase for Business, make more of what's yours. The Chase mobile app is available for select mobile devices. Message and data rates may apply. JPMorgan Chase Bank, N.A., member FDIC. Copyright 2026 JPMorgan Chase and Company.

• 2:49Speaker 04

  Bloomberg Audio Studios. Podcasts, radio, news.

• 3:05Tracy Alloway?

  Hello and welcome to another episode of the Odd Lots Podcast. I'm Tracy Alloway.

• 3:09Joe Weisenthal?

  And I'm Joe Weisenthal.

• 3:11Tracy Alloway?

  Joe, I kind of missed this on Friday because I was not feeling very well, so I was out sick. But what was Friday morning like when you were sat in front of your Bloomberg terminal?

• 3:21Joe Weisenthal?

  Well, the jobs report was pretty shocking, obviously. Friday was just a crazy day.

• 3:26Tracy Alloway?

  Yeah.

• 3:27Joe Weisenthal?

  So, the jobs report, obviously, was, it was, it was bad. I mean, the last two months massively revised down, all of this evidence of labor market momentum, perhaps seems to be stalling, the tariff effect, maybe we really are, and it's sort of some sort of tariff-induced slowdown. The only job creation is in healthcare and social service. Not great.

• 3:47Tracy Alloway?

  Right. Okay, so I saw the initial jobs report headlines. So, we had non-farm payrolls coming in at plus $73,000, which I think was like 30% lower than the average expectation. We had the unemployment rate ticking up to like 4.3%.

• 4:02Joe Weisenthal?

  4.2.

• 4:03Tracy Alloway?

  4.0, almost 4.3%.

• 4:06Joe Weisenthal?

  Oh, let me, let me, sorry.

• 4:07Tracy Alloway?

  I'm rounding up here.

• 4:08Joe Weisenthal?

  Okay, okay, okay.

• 4:09Tracy Alloway?

  Although, maybe I shouldn't do that on a podcast all about labor market statistics. But the big thing that seemed to catch everyone's attention was we also had these massive revisions to the report for May and June. So we had a combined 258,000 jobs basically lowered from the initial reports. And this was like the biggest revision since the depths of the pandemic. And then the headline that really caught my eye while I was, you know, laying in my sick bed on Friday afternoon was Trump firing the head of the Bureau of Labor Statistics, so the agency responsible for putting out the non-farm payroll report every month.

• 4:48Joe Weisenthal?

  Yeah, this is, I would say, the key thing is that, A, we've been used to these, you know, seeing significant revisions. We've been talking, you in particular have been writing a lot in the newsletter about deteriorating quality of labor statistics. Response rates to a lot of surveys have gone down over time, kind of like we're seeing in political opinion surveys and so forth. So there's already been this sort of anxiety. You have a lot of people online, including President Trump himself, who, you know, been like stoking sort of these conspiracy theories about these revisions, these attempts to actually be transparent. And then you get the first sort of like genuinely negative report under this administration. It's the first one that was like, okay, this was bad. And boom,

• 5:31Joe Weisenthal?

  Trump fires the person responsible for it. Now, again, this is one of those things where sort of like Doge itself, where it's like, I like the idea of government efficiency, right? Yeah, sure, Doge. I like the idea of the BLS sort of doing a better job in some way or addressing these responses. But like Doge, which, you know, we all have seen how that's turned out. I think there are a lot of, more than a lot of questions, more than a lot of questions about whether firing the BLS and replacing the head with someone who's, you know, a Trump appointee will, you know, add a more credible, transparent data quality.

• 6:06Tracy Alloway?

  Right. One thing that we have learned from all our episodes on data collection in the US is that it is actually a really, really insanely labor-intensive thing to do. You have to actually call up a bunch of people, homeowners, for instance, or you have to call up a bunch of businesses and ask questions. You have to go out and The field and gather individual prices. And we can have a debate over whether or not you could maybe use new technology, price scanning data to make all of that more efficient. But for the time being, that's how it's done. And so you need people to do it. And if Doge comes in and eliminates, you know,

• 6:41Joe Weisenthal?

  Yeah.

• 6:41Tracy Alloway?

  A big chunk of the budget, then it becomes harder to do.

• 6:44Joe Weisenthal?

  Or if it just gets more costly and the budget's going up. And then the one thing I would say is that in our conversations, and again, you have talked to the BLS many times, they're really good. They're professionals and they take it very seriously.

• 6:56Tracy Alloway?

  They are very responsive, however.

• 6:58Joe Weisenthal?

  Very transparent.

• 6:59Tracy Alloway?

  We could talk about this a little bit, but perhaps less responsive than they used to be in recent weeks. So anyway, we should talk about all of this. I think it's really important. And as you said, there are big questions like what happens if a president ousts a BLS chief and then introduces a new one? We have the perfect guest, someone we've spoken to before about the decline of America's data infrastructure. We're going to be speaking with Bill Beach. He is, of course, the former commissioner of labor statistics, former head of the BLS. So Bill, thank you so much for coming back on All Thoughts.

• 7:30Speaker 07

  Yeah, it's just really a pleasure to be back with you. I wish we were talking about some other subject besides this termination. I mean, it's just really shocking.

• 7:39Tracy Alloway?

  Well, on that note, Friday, Trump tweets or posts that he wants to fire Erica McEntfer, the commissioner of labor statistics. What was going through your mind when you saw that news?

• 7:51Speaker 07

  I was dumb cast. I just finished a luncheon meeting at a very nice restaurant and I was sitting in my pickup truck and I just couldn't believe. And then I sat there for probably 30, 40 minutes, car running and answering emails, people just sorting it out. It isn't that he didn't have the authority to do so. He does have the authority. Yeah, we all, you know, everyone in the executive branch serves the pleasure of the president, except those that have been specifically exempted by statute and where that statute's been signed by the president. I think what was shocking about this is not that she was dismissed, that's shocking enough. It was the possibility that we could have now a sustained attack on official economic statistics.

• 8:33Speaker 07

  And that would undermine confidence in those statistics and put us in a path that other countries have followed. I mean, instantly, people went to worst case. After a while, that sort of settled down, and we began to look at the reasons for the dismissal, which I then subsequently said on Twitter or X that they were unfounded. And I haven't dropped that position since. So I'm happy to talk about it.

• 8:57Joe Weisenthal?

  Well, why don't we just back up for a second? We talked to you before because you've been sounding the alarm about the capacity constraints to collect good data. But just for people who haven't listened to or haven't followed you, you were a Trump appointee. I mean, you served at the head of the BLS in 2017. And so I do, you know, and it's sort of like, OK, your credibility. Why don't you just give us a little bit of background about who you are, your position, and the concerns that you've been raising for some time about the constraints at the BLS?

• 9:27Speaker 07

  So I was really honored to be the Commissioner of Labor Statistics from 2019 until 2023. So I served a little less than two years under President Trump. He nominated me. It is a presidential nomination. Senate confirmed positions. It has a statutory four-year term. And then I served the rest of my term under President Biden. So I was in both terms. I think that's kind of important because the BLS Commissioner has been exempt from the normal turning over of the presidency by party. And that's because the view is, well, these data are so important, they should not even be a part of the political appointment process, except when they come due. Sort of like, you know, the Federal Reserve Chair

• 10:12Speaker 07

  or something of that nature. It's just seen as we want to keep it out of politics. So I served over that period of time. You know, that was the COVID period. So there were all kinds of real challenges from that. But I think the main thing that I drew from that period is how important it is, crucial, almost, we're at a crisis level, to modernize the way we collect data. The response rates on the surveys are falling dramatically. I've made that point on this program. And our costs are rising dramatically, which makes it really difficult to conduct those surveys in the future in the way we have in the past. And then the future is a kind of a going in the direction of the employment survey. And I just said surveys are falling, but the employment survey is a little different.

• 10:56Speaker 07

  It's not an in-person survey. It is an electronic survey and we need to invest more in the electronic side of statistical creation or production, blended data, et cetera. I could do a whole program on this, but your point was well made. BLS has had some challenges in front of it, as has the entire statistical system. Unfortunately, for this particular episode, those challenges were really not, I don't say relevant, they're relevant, of course, but they're really not the reason why we should have had a change at the top.

• 11:28Tracy Alloway?

  Well, speaking of the employment report, talk to us about what exactly happens when the BLS is publishing the initial non-farm payrolls and then what happens, you know, in the couple of months or so before it publishes the revision? And why does it seem we are getting these large gaps, at least in recent months and years?

• 11:47Speaker 07

  Right. So, the employment survey, the jobs numbers, come from a survey of businesses. The unemployment rate comes from a survey of households. So, there's two surveys involved in every First Friday report. What we're talking about now is the survey that goes out to businesses. It goes out to hundreds of thousands of businesses. Well, of course, there's still a probability sample, since there's well in excess of 12 million businesses in our Census of Business, our business register. Well, those businesses are supposed to turn their surveys in at the end of the month, basically. But only about 68%, usually that's

• 12:28Speaker 07

  the average, do so. And so, BLS keeps the window open for two more months. So, 68% or so at the end of the first month, they make the first estimate. Then, at the end of the second month, we get about 83% completion, and they revise that number of the first month. And then by the third month, we're into the 90s. Usually end up around 93, 94% of all the sent out returns come back to us with information. So, it's a wonderful survey. The revisions are done because we get more information from businesses. Oftentimes, big businesses answer first. They have the capacity to do so. And then we get smaller entities, state and local governments, smaller businesses answer in those next two months.

• 13:14Speaker 07

  We always have revisions. There's, there's, I can't, I can't even, even when it, when we say the number did not change, it doesn't mean we, we didn't have revisions. They just canceled each other out. There's just all these revisions are coming in. The revisions have been a high recently, but this is not atypical of a period when the economy is either going back to growth or going down to subsidence. So oftentimes, turning points in the economy are accompanied by changes, larger changes in the revisions. Particularly in this case, where we suspect smaller businesses are feeling the effects of the supply shock coming from the tariff policy and from immigration. And that these supply shocks are affecting smaller businesses more than they are larger

• 13:59Speaker 07

  businesses. And state and local governments are being affected by yet another factor, and that is the expiration of the COVID era money. I think that's was actually the root of a lot of the changes that you saw on Friday. State and local governments are not able to, to hire at the levels they were going to hire at, at in previous years, or did hire at in previous years, because they did not have the subsidies that they had in previous years. So these are important revisions. Actually, the research shows, and this may shock you, that BLS is getting much better at its first estimate than it was 30 years ago. In fact, it's really kind of almost a, a

• 14:39Speaker 07

  steady progress towards greater accuracy. So the big revisions are indicative of not error, they're indicative of more information. And the bigger the revisions, the more likely we are in a turning point.

• 14:53Joe Weisenthal?

  There's so much that was in that answer that I found to be very helpful and clarifying. So thank you. I mean, just this idea, you know, A, that actually over time, contrary to what people on Twitter might think, that the quality of that first pass has actually gone up, is a, is very striking. You know, let's stipulate that, okay, the BLS could use some upgrading. As you've mentioned, that there are these capacity constraints, non-response, the cost of going out, maybe it needs to adopt more technology in some way to solve. Does the BLS currently have that capacity either budgetary wise or statutory authority such that a commissioner could just do that? Whatever it is that ideal state?

• 15:36Joe Weisenthal?

  Or would it need either some sort of budgetary allocation or an act of Congress to get to the point where it's getting to the level that we are happy with again?

• 15:45Speaker 07

  It has the authority to make the changes. It doesn't have the budget to do so. And it isn't that BLS just needs more money, right? Matter of fact, I think Congress, if it paid more attention, would say, well, what are you spending your money on now? And let's make sure that the low priority is canceled so that we can support the high priority. I think BLS would be very happy with that. But we do need more money. And why? Well, if you're going to change an official statistic, the unemployment rate, let's just take that. You want to be really careful, right? You want to run tests. You want to test out your new idea. You don't want to have a, you know, count the number of geese in the air and that's the unemployment rate.

• 16:26Speaker 07

  You want to make sure that that is a particularly good indicator of the employment market. And you want to test it in real time as well as experimental time, in real time, so run it parallel. Well, these tests expand the costs of your unemployment statistics program because you're running essentially two systems simultaneously. We think that to modify the current population survey, which is the survey of households, would cost around 15 million to 20 million in experimental costs over a two-year period. It's not great. The program itself costs about 45 million a year, but it does add to the cost for those two years or so. Congress could easily do that.

• 17:09Speaker 07

  I mean, oh, my gosh, Congress is spending a lot more money than that on things that we might disagree with, but they need to allocate a little bit of money to CPS for that. Does it have the authority? Here's a really interesting story. During COVID, we canceled all travel, all conferences, you know, and I was surprised at how many millions of dollars went into travel and conferences and meetings. So this became, for me, couch money. During the COVID years, and I was able to spend that money, you know, on on important things, I thought. So I did a lot of things like I built a new data center to get us out of the basement of a hundred and four year old building and out to a wonderful above ground local location. But I also started a number of research programs. You know,

• 17:53Speaker 07

  I made thirty one big modifications to the to the CPI. We started a whole new approach on on looking at consumer expenditures and I subsidized some experimentation on the jobs report. Well, as soon as COVID was over, we started to get congressionally mandated programs that then sucked up all that couch money. If we had a little bit of extra, we, I mean, BLS, a little bit of extra to do these these things, let's just think of the innovation that would that would happen. I think we would quickly be out of the problems that we are facing from a methodological standpoint, and that might then reduce the

• 18:36Speaker 07

  political pressure that we saw that was so evident on Friday.

• 18:39Tracy Alloway?

  So we are recording this August 4, 9:25 a.m. in the morning, and thirty three seconds. I feel like I need to be that specific nowadays with the news flow. So who knows what happens between now and when this episode actually comes out. But we are expecting the administration to announce a new BLS head in the coming days. What happens now? You know, there's a Trump appointee for a new statistics commissioner after the president has specifically stated that he thinks the previous commissioner was politically motivated in some way. Are people still going to believe the numbers that are coming out? And how do you think that's actually going to play internally at the BLS, at an organization whose whole,

• 19:23Tracy Alloway?

  you know, raison d'etre is to find, you know, factual numbers and statistics to portray the American economy?

• 19:31Speaker 07

  Well, I think there has been damage and it will take time to recover from that damage. The last time there was a serious political effort on BLS was during the Nixon administration. And it took some time for BLS to recover from that, though the action taken by the president at that time vis a vis BLS was not, I think, as significant as this one. So you just imagine that the president decides to, oh, no, no, appoint St. Peter, you know, as the new BLS commissioner. And of course, St. Peter has a reputation for honesty and for clarity of thought. Still, it'll be the case because St. Peter won't have any control over the way that

• 20:12Speaker 07

  the data are collected, or the data are assembled, or the estimates that are done. That's all done outside of the knowledge of the commissioner. Commissioner has no control over that. In fact, you're locked out of that whole process. So it will be the case that St. Peter will have a month come when the unemployment rate will be disappointingly low, could even be negative. But I think, given what has just happened, people will say, "Well, St. Peter probably influenced that number and it's not as bad as it really is." So for a while, that suspicion that the estimate that's announced is really not the real estimate will be in the minds of some people, not in my mind, because I know that these people

• 20:55Speaker 07

  who work there, the professionals, the full-time staff, the patriots that work there, the loyal Americans who are just extremely diligent in doing an absolutely objective job, those people are still in place. But if you don't have my level of knowledge, or a reasonable level of knowledge of how internally BLS works, you're going to be subject to these falsehoods and accusations. And that will be damaging. That will reduce investment, that will reduce economic activity, that will make, at least that will create greater uncertainty about what's happening inside the US economy. Policymakers will be less clear in the direction that they take. So there will be a time when we need to recover, no matter who's appointed.

• 21:40Speaker 07

  I hope that it will be a short-lived time. And my guess is, given the reputation of BLS... If someone, you know, really reputable is appointed, then yeah, I don't think the period of transition will be that long.

• 21:54Tracy Alloway?

  All right. Well, Bill Beach, really appreciate you coming back on the show. Uh, thank you so much for, for being on All Thoughts.

• 22:00Joe Weisenthal?

  Thanks, Bill. That was great.

• 22:02Speaker 07

  Uh, thank you very much for asking.

• 22:17Tracy Alloway?

  Joe, so good to get Bill back on to talk about this. Really the perfect guest. There are so many, I guess, ironies involved in this whole conversation. The big one, of course, is this idea that like, well, if Trump wants to convince everyone that the US economy is doing fantastic and job growth is great, then firing the head of statistics and having everyone distrust, you know, the subsequent numbers because the subsequent head might be a political appointee who's, you know, a loyalist to Trump. It seems like you're sort of shooting yourself in the foot.

• 22:46Joe Weisenthal?

  The other huge contradiction is that he says Powell is too late.

• 22:51Tracy Alloway?

  Yeah.

• 22:51Joe Weisenthal?

  Right? This is the other huge contradiction, which is every day he slams Powell. He's like, oh, you're too late. You need to cut rates. Well, if the job numbers were weak, then I could understand this argument to some extent. Oh, the job. But he's also casting aspersions on the negative jobs numbers. So how is Powell too late? There's, I mean, this is, it's an irretrievable contradiction in the two criticisms, both of the Fed and the BLS.

• 23:15Tracy Alloway?

  It's definitely a contradiction. I don't think, however, that Trump necessarily draws a direct connection between the unemployment rate and, uh, interest rates. As perhaps, you know, he seems to just like low interest rates.

• 23:27Joe Weisenthal?

  And he seems to perceive that low interest rates are basically a reward for an improving economy.

• 23:33Tracy Alloway?

  Right.

• 23:33Joe Weisenthal?

  But, yes.

• 23:35Tracy Alloway?

  But, I mean, lots of other contradictions. You're absolutely right. So another one is this idea that, okay, a lot of the weakness came through on the revisions side. The revisions are mostly coming from small businesses who reply late. And if you think about the Trump administration, you know, they always sort of portray themselves as a, a good business environment for smaller businesses. And it might be that that's an area that's seeing some weakness.

• 23:59Joe Weisenthal?

  I thought your question about sort of internal morale and as Bill said, you know, an agency staffed with patriots, I mean, I just, you know, is BLS going to be, continue to be a destination for people who are patriots, right? Or take their job seriously in the future is a really interesting question. Also, the idea that like, maybe we could like, get high data quality for like $20 million, given how much that's worth, it's just like, drives you crazy if that's really all it took. But also, I really like this idea that it would have to always be done in parallel with the current thing, such that the new data is sort of provably backwards compatible with the old data, right? So if you're going to adopt a new methodology, you need some allocation, run two surveys at once, et

• 24:41Joe Weisenthal?

  cetera. Anyway, even in a very short conversation, learned a lot from Bill.

• 24:45Tracy Alloway?

  Absolutely. I do think it's worth pointing out that there are other statistical agencies in the world that are experimenting with new technology for data sources. The UK Statistics Agency in particular, they're going to start using, you know, price scanning data for CPI.

• 25:00Joe Weisenthal?

  Wait, have you heard about the whole thing, though, with how they moved the ONS to Wales? And no one wanted to go out there. And have you heard about this?

• 25:07Tracy Alloway?

  I have. Wales is not that bad.

• 25:10Joe Weisenthal?

  Let's distribute the, the largesse of the government across, everyone loves that idea. Let's not have it all be concentrated in London. Like, okay, we're going to make everyone move to Wales. And now it's a lot harder for the ONS to hire anyone. Anyway, it's just a little interesting story. Maybe we'll cover it at some point.

• 25:26Tracy Alloway?

  Why people don't want to move to Wales?

• 25:28Joe Weisenthal?

  No, I just think it's interesting, right? Like, there's, intuitively, I love this idea of like, or why should all of the government spending on public sector stuff at the federal level be in the richest city in the UK? Or why should it all be in DC, et cetera? And so this idea of, anyway, it's a separate thing. It's actually some interesting challenges arise from it.

• 25:47Tracy Alloway?

  Okay. Shall we leave it there?

• 25:48Joe Weisenthal?

  Yeah, let's leave it there.

• 25:49Tracy Alloway?

  This has been another episode of the Odd Lots Podcast. I'm Tracy Alloway. You can follow me at Tracy Alloway.

• 25:54Joe Weisenthal?

  And I'm Joe Weisenthal. You can follow me at the Stalwart. Follow our guest, William Beach. He's at Beach WW453. Follow our producers, Carmen Rodriguez, at Carmen Armin, Dashil Bennett, at Dashbot, and Kale Brooks, and Kale Brooks. For more Odd Lots content, go to Bloomberg.com/oddlots, where we have a daily newsletter and all of our episodes. And you can chat about all of these topics 24/7 in our Discord, discord.gg/oddlots.

• 26:20Tracy Alloway?

  And if you enjoy Odd Lots, if you like it when we talk about the future of economic statistic collection in the US, then please leave us a positive review on your favorite

• 26:28Joe Weisenthal?

  Or the UK.

• 26:29Tracy Alloway?

  Or the UK. And please leave us a positive review on your favorite podcast platform. And remember, if you are a Bloomberg subscriber, you can listen to all of our episodes absolutely ad-free. All you need to do is find the Bloomberg channel on Apple Podcasts and follow the instructions there. Thanks for listening.

• 27:16Speaker 08

  If you're a business owner, you need a card that can keep up. With the Delta SkyMiles Reserve Business American Express Card, everyday purchases transform into miles you can use towards future travel. So business as usual can lead to a well-deserved getaway. And for a limited time, card members can earn 200,000 bonus miles, the highest miles offered this year. Whether you're traveling for business or planning your next adventure, now's a great time to make every purchase go further. Apply today at www.deltacom/podcast. Offer ends November 4. Minimum spending requirements and terms apply.

• 27:52Speaker 09

  Congratulations, you've built a dashboard. But now comes the follow-up question, and the follow-up to the follow-up, and the dashboard for that. Meet Hex. Give everyone the power to ask their own questions, explore data, and build with AI, all in natural language. Because every answer should spark another question, limited only by your curiosity, not your data team's bandwidth. Go deeper than dashboards. Join over 2,000 leading data organizations. Visit hex.ai.

• 28:22Speaker 10

  A business gift should do more than check a box. It should reflect your brand and show someone they're appreciated, recognized, and truly seen. 4imprint offers thousands of high-quality customizable products, like premium apparel, drinkware, tech, and more, making it easy to create a gift that feels meaningful and on-brand. And with 4imprint's expert support and their 360-degree guarantee, you can be 4imprint certain your order will arrive exactly as intended. Explore gifting with confidence at 4imprint.com. 4imprint: For Certain. If you listen to financial news, you know a lot of time is spent thinking about what's next. The next opportunity, the next investment, the next move.

• 29:05Speaker 10

  But sometimes what matters most is being ready for what you never saw coming. For more than 75 years, Cincinnati Insurance has worked with independent agents to help protect businesses, homes, valuables, and more. Because planning for the future isn't only about knowing what's next, it's about making sure you're ready for what you can't predict. Let Cincinnati Insurance make your bad day better. Find an independent agent at C-I-N-F-I-N dot com.