this post was submitted on 01 Aug 2025
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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.

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[–] sp3ctr4l@lemmy.dbzer0.com 6 points 1 day ago

24 hour news (cable and online) got into the habit of basically reporting on the monthly reports like they are gospel, when realistically they are only reliable around November or December. I think the Fed encourages it too because it's quietly one of the levers they can use to inspire foreign investment.

... 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.