I don’t want to sound conspiratorial but the current establishment survey for NFP seems to be run by Chinese statisticians…goal seeking. Similarly the CPI measures in the US are affected by OER that is quite a unique methodological choice that creates serious distortions. Anyhow, nothing new. FED officials have been talking way too much and gone are the days when the FED chairman was speaking only at the HH hearings and barely during the rest of the year.
I don’t want to sound conspiratorial but the current establishment survey for NFP seems to be run by Chinese statisticians…goal seeking. Similarly the CPI measures in the US are affected by OER that is quite a unique methodological choice that creates serious distortions. Anyhow, nothing new. FED officials have been talking way too much and gone are the days when the FED chairman was speaking only at the HH hearings and barely during the rest of the year.
"And if the intention is to provide Forward Guidance, such pivots transform guidance into Forward Confusion..." Isn't that the truth and well said!