“There are three kinds of lies: Lies, Damned Lies, and Statistics” We’ve known for years that the BLS is forced to renegotiate the numbers after the fact. This represents an effort to correct the record to back out 3-4 years’ worth of error. The BLS gets the numbers wrong because they are in a hurry to report and do it based on an incomplete data set.
Vance’s assertion of the “useless”ness of the data is wrong; you just have to be willing to wait long enough for the data set to be complete.
The Fed has to balance the economy based on a lot more factors. If not, why not just keep cutting rates and let the economy explode? Inflation would rise and the value of the dollar would drop. Lot more to it than just keeping Trump happy!
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“There are three kinds of lies: Lies, Damned Lies, and Statistics” We’ve known for years that the BLS is forced to renegotiate the numbers after the fact. This represents an effort to correct the record to back out 3-4 years’ worth of error. The BLS gets the numbers wrong because they are in a hurry to report and do it based on an incomplete data set.
Vance’s assertion of the “useless”ness of the data is wrong; you just have to be willing to wait long enough for the data set to be complete.
The Fed has to balance the economy based on a lot more factors. If not, why not just keep cutting rates and let the economy explode? Inflation would rise and the value of the dollar would drop. Lot more to it than just keeping Trump happy!