Donald Trump's policies spark worry for retirees. A federal hiring freeze impacts inflation data collection. This data is crucial for Social Security adjustments. Inaccurate data could lead to smaller benefit increases.

President Donald Trump’s firing of the commissioner of labor statistics, Erika McEntarfer, on Friday raises serious risks for retirees living on Social Security, and for those with money in U.S. bonds and bank savings accounts.

T here were many reasons George W. Bush's presidency cratered in his second term, but one notable turning point was his administration's failed attempt to privatize Social Security. Voter backlash was fierce. Two decades later, President Donald Trump may be eyeing a new attempt.