Food Stamps Bode Well for Revised Misery Index: Chart of the Day
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The number of food-stamp recipients may provide more insight into Americans’ economic wellbeing than the rate of inflation, according to Tobias Levkovich, Citigroup Inc.’s chief U.S. equity strategist.
The CHART OF THE DAY shows a new version of the misery index, developed by economist Arthur Okun in the 1970s, that Levkovich created. The gauge is inverted to ease comparisons with the Standard & Poor’s 500 Index, which also appears.