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Gaio reminds me that "The Federal Reserve (the Fed) returns a portion of its earnings to the U.S. Treasury" every year.
Reuters (March 24, 2023) says the Fed payment to Treasury was $76 billion in 2022 and $109 billion in 2021. Amounts like that would cover a lot of data-gathering cost at the BLS, if they just kinda bypassed the Treasury.
To do its job, the Fed needs economic data from BLS and other sources. How are they going to fight inflation if they don't get the data from BLS??? Seems to me if they need the data, they can justify spending those billions to get it, even if it takes most of the profits the Fed would otherwise have paid to the Treasury.
2 comments:
same thing in russia and china. I guess the purpose of a democratic government is to improve peoples quality of life. It can involve collecting data so you can make accurate predictions about your policy so you can set policy that will make things better. but the purpose of an autocratic government is to stay in power, not to make things better. sometimes it involves hiding or destroying data so that people can't as easily compare your effect on things to e.g. the democracy next door. sometimes it means firing anybody who tells you stuff you don't want to hear, etc.
Sad days for America.
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