{"id":56221,"date":"2024-08-22T10:55:24","date_gmt":"2024-08-22T14:55:24","guid":{"rendered":"https:\/\/www.rightwinggranny.com\/?p=56221"},"modified":"2024-08-22T10:55:24","modified_gmt":"2024-08-22T14:55:24","slug":"this-wont-be-a-surprise-to-most-americans","status":"publish","type":"post","link":"https:\/\/www.rightwinggranny.com\/?p=56221","title":{"rendered":"This Won’t Be A Surprise To Most Americans"},"content":{"rendered":"

On Wednesday, The Daily Caller<\/a> posted an article about the Biden administrations’ reporting of the jobs reporting during the past year or so.<\/p>\n

The article reports:<\/p>\n

The federal government overestimated the number of jobs in the U.S. economy by 818,000 between April 2023 and March 2024, according to data from the Bureau of Labor Statistics released Wednesday, stoking fears of a slowdown in the U.S. economy.<\/strong><\/p>\n

Economists at Goldman Sachs (GS) and Wells Fargo anticipated the government had overestimated job growth by at least 600,000 in that span, while economists at JPMorgan Chase had predicted a lesser decline of 360,000, according<\/a> to Bloomberg. The downward revision<\/a> follows a trend of the BLS overestimating the number of nonfarm payroll jobs added, with the cumulative number of new jobs reported in 2023 roughly 1.3 million less<\/a> than previously thought as of February 2024<\/strong><\/p>\n

The article concludes:<\/p>\n

Wednesday\u2019s downward\u00a0revision has also heightened concern that the Federal Reserve has waited too long to begin cutting interest rates, Bloomberg reported. If the FOMC hesitates to cut rates for too long, it could result<\/a> in recession instead of a\u00a0soft landing \u2014 an economic slowdown in which inflation is brought down without causing recession.<\/strong><\/p>\n

The Federal Open Market Committee (FOMC) decided to hold its target federal funds rate between 5.25% and 5.50% in July, marking the eighth meeting<\/a> in a row the FOMC has decided to keep rates at their current 23-year high.<\/strong><\/p>\n

\u201cWall Street is increasingly waking up to the fact that the economy post-covid has never been as good as the government bean counters claimed, and a recession may have already begun,\u201d\u00a0Antoni told the DCNF. \u201cThese revisions are a violent shove in the direction of reality.\u201d<\/strong><\/p>\n

The economic rebound has been slowed by government policies that are not totally related to interest rates. Government regulation and tax policy play a big role in America\\s economy. If a Democrat is elected President in November, you will see tax rates skyrocket and the economy stumble.<\/p>\n","protected":false},"excerpt":{"rendered":"

On Wednesday, The Daily Caller posted an article about the Biden administrations’ reporting of the jobs reporting during the past year or so. The article reports: The federal government overestimated the number of jobs in the U.S. economy by 818,000 … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[13417,1659,3428,10015,7069,10476,8123,5884,7506,15705,3800,6458,1947,7015,737],"class_list":["post-56221","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-biden-administration","tag-bureau-of-labor-statistics","tag-economy","tag-federal-government","tag-federal-reserve","tag-government-regulation","tag-inflation","tag-interest-rate","tag-job-growth","tag-jobs-added","tag-recession","tag-statistics","tag-tax-rate","tag-the-daily-caller","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/56221","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=56221"}],"version-history":[{"count":1,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/56221\/revisions"}],"predecessor-version":[{"id":56222,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/56221\/revisions\/56222"}],"wp:attachment":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=56221"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=56221"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=56221"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}