​Bad Data And Bad Models: How The Fed Has Shattered Confidence – Tyler Durden

Bad Data And Bad Models: How The Fed Has Shattered Confidence Authored by Mike Maharrey via Money Metals, The Federal Reserve boasts of its data dependence. But what if it’s relying on bad data? Even worse, what if it’s plugging that bad data into a faulty model? In July, the Bureau of Labor Statistics (BLS) made massive downward revisions to the job numbers. Poof – the agency simply erased 111,000 jobs from existence. This has been an ongoing pattern. The BLS releases a report. The media trumpets the greatness of the labor market. And then the BLS quietly revises the…  — Continue at ZeroHedge News : Read More