The Fed is focusing on ‘flawed’ data and keeping rates high will result in a big policy mistake, economist says
The Federal Reserve’s fixation on a streak of “flawed” data to justify keeping interest rates higher for longer is bound to spark a policy mistake, according to top economist David Rosenberg.
“The Fed seems to be focusing not just on flawed data, but on headlines only. I don’t sense any analysis of the data by the various FOMC officials as much as reporting of the data,” Rosenberg said in a note on Monday.