What You Measure is What You Try to Manage, FRB edition

For those who were thrilled by the positive general prospects in Rebecca’s post, the WSJ presents words to die/foreclose by:

If that seems at odds with the economy’s recent strength, keep in mind that the unemployment rate is usually one of the last places recovery shows up.

Many of us are having trouble forgetting that, as the “flat” consumer confidence makes clear.

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