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66 sats \ 2 replies \ @sb 4 Jun 2023 \ parent \ on: What’s Up With Jobs Numbers? bitcoin
Hasn't the BLS also been revising down their recent wage data? Seems like they put out arbitrary numbers, gauge market reaction and then correct the numbers in the months ahead by the time the market has moved on
The revisions are ridiculous. Good jobs numbers give Powell political cover to raise rates, which says to me the fed is really frightened of inflation. Once the wheels come off and the US can no longer afford its debt service, ceiling or no ceiling, the jobs numbers will get ugly. Then they will slash rates to "save the economy. "
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yeah good point, the idea that these metrics are being skewed to enable more rate hikes seems plausible to me
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