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Citi: The Fed May Have Kept Policy too Loose Because of Faulty Data

End-of-summer job growth is stronger than you think.
The Fed: a hotbed of short-termism?

The Fed: a hotbed of short-termism?

Photographer: Andrew Harrer/Bloomberg

Remember residual seasonality?

In mid-May, Wall Street economists, along with researchers at select regional Federal Reserve banks, convincingly argued that first-quarter gross domestic product figures were skewed to the downside because of some statistical discrepancies.