The U.S. Treasury Secretary and the Federal Reserve Chairman both dare not trust U.S. data?
U.S. Treasury Secretary Janet Yellen recently stated in an interview that the previous administration relied on numbers to justify its policies, ignoring the real feelings of the public. Current economic data will undergo significant revisions and are not reliable. Overnight, Federal Reserve Chairman Jerome Powell also mentioned that the University of Michigan's inflation expectations data is an "outlier," while "hard data" such as employment and consumer spending indicate that the U.S. economy is "healthy." The preliminary data from the University of Michigan for March released last Friday showed that U.S. consumer confidence hit a more than two-year low, and long-term inflation expectations reached the highest level since 1993
U.S. Treasury Secretary Janet Yellen recently stated in an interview that the previous administration relied on numbers to justify its policies, ignoring the real feelings of the public. Current economic data will undergo significant revisions and are not reliable. Overnight, Federal Reserve Chairman Jerome Powell also mentioned that the University of Michigan's inflation expectations data is an "outlier," while "hard data" such as employment and consumer spending indicate that the U.S. economy is "healthy." The preliminary data from the University of Michigan for March released last Friday showed that U.S. consumer confidence hit a more than two-year low, and long-term inflation expectations reached the highest level since 1993