Janet Yellen invented the 'labor market conditions index' in the past, another made-up Fed statistic that gave her answers she didn't like 2 years later, so she discontinued it and found another one—the Fed's pattern is to create new metrics until they find one that justifies their preferred policy.
factualpending
Speaker
James BiancoEvidence Quote
“Janet Yellen, you know, 7, 8 years ago I did labor market conditions index, another invented out of whole cloth statistic that the Fed had...2 years later it was giving them a statistic that they didn't like, they discontinued it”
Source
DoubleLine Round Table Prime, 2023 - Part 1: Macroeconomic State of Play 1-4-23— DoubleLine CapitalCreated: 8/11/2026, 1:33:48 AM
My Notes
Loading notes...