Old Rules Measure Yesterday
Everyone from Main Street to Wall Street watches the inflation numbers. If the numbers are going up, we assume the Federal Reserve will take action. With so much riding on the veracity of the numbers, it was vital that a full review of their accuracy be instituted. Accordingly, a Congressional Advisory Commission on the consumer price index (CPI), chaired by Michael Boskin, was formed. After study, the commission reported that the CPI overstated the change in the cost of living by about 1.1 percentage points per year. This number seems small, but compounded over time, the effects are enormous. ...
All fields are Required.
email if entered not will be shown.
Tags forbidden.