US must overhaul statistics to fight coronavirus – Minneapolis Fed paper
New methods, laws and cross-sector agreements are necessary to support real-time data analysis, research says
The US must overhaul its “outdated” statistical collection methods, laws and distribution to better understand the impact of the coronavirus, research published by the Federal Reserve Bank of Minneapolis says.
“Now more than ever, we need to be focused on multi-use efficiencies and harness linked real-time big data to improve the production of official statistics and policy research,” visiting scholar Misty Heggeness writes.
There are weaknesses in collection methods and data distribution
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