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The federal reserve certainly needs that data when they are trying to decide on interest rate adjustments.
by amanaplanacanal 1y ago
The federal reserve certainly needs that data when they are trying to decide on interest rate adjustments.
- actionfromafar 1y agoSoon they won't need any data, they can just ask Trump what the rate should be.
- dragonwriter 1y agoDoes the Fed use BLS data for that or BEA employment data (BEA does use the BLS data as an input, so they aren't completely independent, but they also make adjustments to make them consistent with other BEA measures and I wonder if changes in BLS methodology or reliability will simply produce greater divergence between BLS and BEA employment information). I mean, the Fed uses BEA PCE data and not BLS CPI data for inflation, so it would seem consistent for them to use BEA employment data as well. Of course. if manipulating the source of the popular headline figures doesn't have the desired impact on the Fed, Trump would eventually probably exert the same pressure on BEA.