One would think that the Fed would be one of "those who deal with it seriously." The Fed didn't lower rates, citing the jobs report ... but there is now a predicted 96% chance of a rate cut in next meeting, solely because of the corrected data. The BLS basically determined US monetary policy by issuing incorrect data, and the Fed trusted them.
Like cheeks says, bad data is worse than no data.
And yet a bad monetary policy decision was made by the Fed.
Replies to: "And yet a bad monetary policy decision was made by the Fed."
- Trump’s pick for BLS commissioner suggests suspending the monthly jobs report [LINK]
- Chris94 - 12:57pm 8/12/25
(21) [View All]
- "President" Trump piles the shite on and the Gumps eat the sandwich. Then burp. [NT] - ND521 - 1:39am 8/13/25
- I don't think it's about bad news but bad data. - iairishcheeks - 1:16pm 8/12/25
- And the data is off materially a lot. It would be one thing if it were rounding error, but it's not. [NT] - LanceManion - 1:57pm 8/12/25
- It's never been a secret that the BLS data is not perfect, and those who deal with it seriously - TyroneIrish - 1:22pm 8/12/25
- If I told you that the tornado is to the East so go West.... - iairishcheeks - 2:23pm 8/12/25
- Come join the discussion whenever you'd like... [NT]
- TyroneIrish - 3:17pm 8/12/25
- I guess you're just not capable of understanding my point, I accept that. [NT]
- iairishcheeks - 3:22pm 8/12/25
- Your point was clear and germane to the "discussion". - TakethetrainKnute - 4:50pm 8/12/25
- Tyrone thrives on bad data, it's just his nature. [NT] - iairishcheeks - 6:16pm 8/12/25
- I'm not saying you're not entertaining, but "Through the Looking-Glass...and What Cheeks - TyroneIrish - 4:18pm 8/12/25
- Your point was clear and germane to the "discussion". - TakethetrainKnute - 4:50pm 8/12/25
- I guess you're just not capable of understanding my point, I accept that. [NT]
- iairishcheeks - 3:22pm 8/12/25
- Come join the discussion whenever you'd like... [NT]
- TyroneIrish - 3:17pm 8/12/25
- And yet a bad monetary policy decision was made by the Fed. - NedoftheHill - 2:20pm 8/12/25
- Attached is a 'Fact Check' that I believe proves you wrong wrt DJT's claims of "Rigging" by the BLS. [LINK]
- TyroneIrish - 3:16pm 8/12/25
- I didn't say anything was rigged. I said BLS set monetary policy b/c Fed trusted their bad numbers. - NedoftheHill - 3:31pm 8/12/25
- The interactions between the Fed and BLS data has been going on for decades...this isn't something - TyroneIrish - 4:31pm 8/12/25
- Fact: The Fed would have made a different decision if BLS corrected its data sooner. [NT]
- NedoftheHill - 8:10pm 8/12/25
- That's not necessarily true...the Fed relies on more data than just the BLS'...specifically, PCE [LINK]
- TyroneIrish - 8:31pm 8/12/25
- Powell stated it was true in his presser. I think he knows what went into his own decision. - NedoftheHill - 11:14pm 8/12/25
- He uses bad data as a club, it's 1984 for this "Democratic Socialist". [NT] - iairishcheeks - 11:35pm 8/12/25
- Powell stated it was true in his presser. I think he knows what went into his own decision. - NedoftheHill - 11:14pm 8/12/25
- That's not necessarily true...the Fed relies on more data than just the BLS'...specifically, PCE [LINK]
- TyroneIrish - 8:31pm 8/12/25
- Fact: The Fed would have made a different decision if BLS corrected its data sooner. [NT]
- NedoftheHill - 8:10pm 8/12/25
- The interactions between the Fed and BLS data has been going on for decades...this isn't something - TyroneIrish - 4:31pm 8/12/25
- I didn't say anything was rigged. I said BLS set monetary policy b/c Fed trusted their bad numbers. - NedoftheHill - 3:31pm 8/12/25
- Attached is a 'Fact Check' that I believe proves you wrong wrt DJT's claims of "Rigging" by the BLS. [LINK]
- TyroneIrish - 3:16pm 8/12/25
- Once it became politicized, it became useless. [NT] - LanceManion - 1:59pm 8/12/25
- If I told you that the tornado is to the East so go West.... - iairishcheeks - 2:23pm 8/12/25
- Agree, they need to come up with a better way of collecting the data. [NT]
- PaND - 1:21pm 8/12/25
- They can use similar methodologies as other countries. - Shadow_of_the_Dome - 3:34pm 8/12/25