So two weeks later, the BLS has realized precisely the error that it made, and as Bloomberg reported today, the US Labor Department's statistical agency "Sowed confusion" on Wall Street this week with an email about a key factor behind the jump in January's CPI index A Tuesday email to a group of data "Super users", seen by Bloomberg, suggested a surge in a measure of rental inflation - which left analysts puzzled - was caused by an adjustment to how subcomponents of the index are weighted.
Adding to the speculation that the data has been rigged and we are witnessing yet another conspiracy in action, one recipient said the BLS Statistics tried to retract it and that they were told to disregard its contents.
Which is bad news for Biden as explained above, hence the following bizarre email sent out by the BLS: It wasn't immediately clear who or what is a BLS "Super user", but it was obvious that the BLS is now in damage control mode, trying to "Justify" why it allowed the January CPI print to come in red hot.
The implication is simple: now that the BLS knows what "Caused" the spike it won't allow the same mistake twice.
If the BLS purposefully adjusted a weighting factor in an adverse way early in the year, it would then have many months in which it would be able to smooth out the negative January impact, allowing the monthly CPI print to come in well below where it would otherwise be.
Of course, such an explanation would be rather conspiratorial and would suggest that the BLS is in cahoots with the Biden admin as it seeks to mitigate any potential upside price shocks in the months leading to the November election.
Almost as conspiratorial as the BLS "Accidentally" sending out an email to its "Super users", and the promptly seeking to retract it.
No comments:
Post a Comment