For nearly two years, the job market Americans were told about has been significantly stronger than the one that actually existed, and the Federal Reserve made a major policy decision based on numbers that have since been quietly rewritten.
Right that it still tilts that direction, but it is true that they will lower rates to try to improve employment if employment looks bad, as a general point of strategy. Currently inflation is so bad that even this bad news doesn’t really move the needle in this case.
Right that it still tilts that direction, but it is true that they will lower rates to try to improve employment if employment looks bad, as a general point of strategy. Currently inflation is so bad that even this bad news doesn’t really move the needle in this case.