Dear Americans, meet your venerable central planners:
- FED'S EVANS: DOT PLOT CHART CLEARLY SHOWS US ECON DOING BETTER
So, according to the Fed's academic experts, the US economy is not, well, the US economy, it's not Y = C + I + G + NX, it's not the product of all goods and services created in the United States... it's this:
Which, for those confused, is precisely what it appears to be: a bunch of dots drawn on a piece of paper, not to be confused with this following random bunch of dots drawn on a piece of paper, which however is far more indicative of what the US economy is really like.
So the actual - you know - economy may be on the verge of a recession, but the Fed's model of an "economy" as represented by the dotted paint-by-numbers gibberish shown above, which only a cabal of arrogant academic hacks, who have never held an actual job in their lives and who can only do one thing: print money and make the rich richer while crushing the rest of the economy with trillions of debt, can deem is anything more than just that - utter gibberish - is recovering.
(Please just ignore the negative "dot", of course. That is what, in economic parlance, one calls a (non-GAAP) outlier to be ignored drawn by an angry, outgoing member of said cabal.)
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And just in case anyone wants more, there was this:
- EVANS: STRONGER GLOBAL ECONOMY WILL BENEFIT EVERYBODY
- EVANS: MAINTAINING CREDIBILITY IS KEY TO EFFECTIVE MONETARY POLICY