The Fed has the responsibility of stabilizing prices and maximizing employment. Powell has held its benchmark rate for overnight loans constant this year, saying that Fed officials needed to see what impact Trump’s massive tariffs had on inflation.
The Fed has the responsibility of stabilizing prices and maximizing employment. Powell has held its benchmark rate for overnight loans constant this year, saying that Fed officials needed to see what impact Trump’s massive tariffs had on inflation.
… and almost no one actually checks the revisions to those numbers later, because the ruling class isn’t smart, they just have money, for whatever reason.
For the last 2 years, the BLS numbers have been so unreliable, so often revised by huge amounts, that they are just worthless, they’re more bullshit than the US media spent the better part of 2 decades saying half the numbers coming out of China were/are.