Home Politics How Can the Fed Set Rates When Jobs Data Is This Broken?

How Can the Fed Set Rates When Jobs Data Is This Broken?

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How Can the Fed Set Rates When Jobs Data Is This Broken?

"The mistake that they made last week was a five to six standard deviation mistake," Bessent told MSNBC’s "Morning Joe" on Thursday. "There’s something wrong here. Because on Wednesday, the Federal Reserve voted not to cut rates. On Friday, the BLS had this massive downward revision. One of these is mistaken. So either the Fed economists did not see what the BLS did, or the BLS data was corrupted."

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