The decision by payroll processor ADP to suspend the Federal Reserve's access to employment data is a minor story in the scheme of things. But it shows why government-produced economic data is so essential.
The big picture: There has been an explosion in recent years in private sector data that sheds light on how the economy is evolving, and much of it is terrific. But there's ultimately no replacement for the government's might in collecting data from all corners of a $30 trillion economy.
