According to the New York Post, The Federal Reserve stopped using the unemployment rate published by the BLS.
Had the Feds been using the information published by the BLS, they would have raised interest rates quite significantly. Instead we find that, eight years into this recession, the Feds still have the interest rate stimulus running at full throttle.
It appears that the BLS is publishing information based on the effects that it wants to achieve and is not simply trying to accurately reflect reality ... which is what it should be doing.
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