As someone who isn't very well versed in more advanced or intermediate economic concepts, but does understand how data sets like the inflation report can be selectively altered by the sitting administration to create a narrarive they want, I had to ask myself if the unexpexted economic growth being reported this morning is also something that could be quietly altered behind closed doors to look better?
Can we trust the U.S economic growth being reported this quarter?
byu/DesertSeagle inAskEconomics
Posted by DesertSeagle
1 Comment
Yes. This is well within the 90% confidence interval of the NYFed Nowcast:
https://www.newyorkfed.org/research/policy/nowcast
Atlanta Fed also estimated 3%. So it’s high, but not abnormally so.
https://www.atlantafed.org/cqer/research/gdpnow
Also, how can the government alter the inflation data? Thousands of career economists, who mostly skew Dem, are going to be silent and falsify data?
No.