Why Yellen Might Turn Her Back on a Labor Market Barometer She Once Championed

Why the Fed Chair isn't sweating the decline in the labor market conditions index.

The One Thing the Fed Should Say, but Doesn't

In a 2014 speech, Federal Reserve Chair Janet Yellen drew attention to one comprehensive metric that would serve as a better pulse on the state of the jobs market than the unemployment rate alone: the 19-part labor market conditions index, or LMCI.

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