I am all ears for some cackling “ROI” (return on investment) argle-bargle explaining our first item of the day.
The Fed is getting ready to meet, and they’ve got their accounting pencils – and erasers – ready to go. To help them make a decision on the state of the economy, the tools they use, such as the Bureau of Labor and Statistics job figures, are getting a burnishing – a freshening up, if you will. Something known as a “revision.”
It’s got some of the folks I follow waxing nostalgic and thinking fondly back to Biden election years of yore…
A lot of people forget the Philly Fed did a benchmark revision the end of 2022, erasing 1.1 million new jobs from the books..
We’re about to see something similar tomorrow.
It should be a much bigger deal than it is.. https://t.co/Ev15tVijMF— Frog Capital (@FrogNews) August 20, 2024
The BLS has been revising every job gain announcement down…
