14 And high-tech firms have excellent information on inventories, sales, and prices, which could help to provide a better snapshot of innovations that are driving the most dynamic parts of the economy. To some extent, the statistical agencies, including the Federal Reserve, already use data--both public and proprietary--that are collected by the private sector.
The key issue is finding more opportunities for private-public partnerships that are efficient, mutually beneficial, and do not compromise the high quality of federal statistics that we have come to expect. Summary and conclusion As I noted in my introduction, the U.S. enjoys among the best, if not the best, economic statistics in the world.