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Take this comment at face value for a moment, and contemplate what is being said here.
“The Democrats may have permanently damaged the Federal Statistical System with October CPI [Consumer Price Index] and jobs reports likely never being released,” White House Press Secretary Karoline Leavitt told reporters on Wednesday. “All of that economic data released will be permanently impaired leaving our policy makers at the Fed flying blind at a critical period.”
The Federal Reserve—the “policy makers”—are flying blind because the BLS and BEA could not release their respective assessments on the US economy.
These are the same assessments which are routinely mangled and misread by Wall Street and Washington “experts” alike, and the same assessments which have completely missed the reality of the jobs recession that has stalked the US economy since 2023.
It’s not as if ADP does not put out its own jobs analyses. Even the Federal Reserve districts maintain their own “Beige Book” of economic conditions. Neither ADP nor the Federal Reserve were closed during the government shutdown.
Yet because the government has not put out its own problematic sets of economic statistics, the Federal Reserve is “flying blind”.
If the “policy makers” genuinely believe that, why do we need them?
