Yeah, I thought it was well known that the data is messy. They make educated guesses off the data they have monthly, and then continue to clean it up as they get more data.
Such a big revision shows the Fed may already be behind with cuts. Odds were already 100% for a cut in Sept, this new data continues to move the odds up from 25bps to 50bps.
As an aside, big government conspiracies always make me laugh because they often come from the same people who say government is incompetent.
Such a big revision shows the Fed may already be behind with cuts. Odds were already 100% for a cut in Sept, this new data continues to move the odds up from 25bps to 50bps.
As an aside, big government conspiracies always make me laugh because they often come from the same people who say government is incompetent.