US Government Announces Groundbreaking Move to Store Economic Data on Blockchain

Federal economic data goes immutable—and Wall Street's about to get a whole lot more transparent.

THE IMMUTABLE LEDGER UPGRADE

No more waiting for revised GDP numbers or questionable jobs reports. The blockchain doesn't do revisions—just permanent, timestamped truth. Every data point gets cryptographically sealed the moment it's published.

TRADERS MEET THEIR NEW OVERLORD: CODE

Algorithms will feast on real-time, tamper-proof data streams. Flash crashes might become flash rallies when the machines get their numbers straight from the source—no Bloomberg terminal middleman required.

Because nothing says 'trust us' like needing an un-hackable digital ledger to verify government economic data—take that, shadowy hedge funds and their 'alternative data' subscriptions.

Economic Data on DLT

The revelation came as Lutnick addressed President Donald TRUMP in a Cabinet meeting in Washington on Tuesday. It is the latest move from a pro-industry administration that supports innovation and distributed ledger technology, and modernizing data distribution is part of that push.

Before his fallout with Trump, tech billionaire Elon Musk floated the idea of running parts of the US government on the blockchain. The MOVE could possibly lead to other economic data, such as key inflation reports (CPI and PCE), being put on the blockchain in the future.

Lutnick said the initiative was made possible through collaboration with the WHITE House’s top adviser on crypto, David Sacks.

The Commerce Secretary also agreed with the President that interest rates need to come down because they’re hurting the economy and American taxpayers. Fed Chair Jerome Powell, whom Trump has threatened to fire, hinted at easing monetary policy at Jackson Hole last week, resulting in a big crypto market pump.

Lutnick also defended Trump’s move to fire Federal Reserve Governor Lisa Cook, labelling her a “crook” who committed mortgage fraud. Trump took the unprecedented step earlier this week of writing a termination letter to Cook in his latest attack against the central bank and its bosses.

GDP Due This Week

The second-quarter growth annualized gross domestic product report will be published on Thursday. The report will provide more insight into the economy’s growth and incorporate additional data that was not included in the advance estimate.

The latest estimate for GDP from the Federal Reserve Bank of Atlanta for the third quarter is 2.2%, down from the previous quarter.