No federal agency has been more incompetent than the Federal Reserve.
But it just hit an all-time low in a move that can impact both the election and the economy.
And the Federal Reserve admitted one massive “mistake,” which has people asking about election interference.
Competency and Government never go together
When people think of the government, few people think of competency.
There are very few functions, if any, that the private sector and an open market couldn’t do better than the government.
If you don’t think government incompetence is a thing, go to your local DMV for a day.
It isn’t a knock on the people who work in the federal bureaucracy; the lack of competency is an effect of the bureaucracy itself.
And of all the government agencies that are incompetent at their jobs, the Federal Reserve’s incompetence is on its own level.
The job of the Federal Reserve is to foster a healthy economy and stable market pricing now and in the future for our nation.
How have they been doing over the past few years?
For years the Fed kept the economy afloat by printing more dollars than had ever been in circulation.
Then they act shocked and implement drastic policies through rate hikes to slow down the self-inflicted inflation they created.
And these rate hikes ultimately don’t hurt Wall Street but rather cripple families on Main Street America.
But there is a point where you start to question if the incompetence is malicious.
“Mistake” or Election Interference?
Each month, the Bureau of Labor Statistics issues a screenshot of how the job market is doing by releasing employment payroll numbers.
And earlier this year they posted, with Legacy Media gleefully reporting, a shocking positive number of jobs created between April of 2023 to March 2024 at 2.6 million jobs created.
Well, months later, and after the media boasted about a growing and healthy economy, the Bureau of Labor Statistics said that they had to reduce the number of jobs created.
The revision wasn’t minor, and the biggest revision since 2009 at nearly a thirty percent reduction.
The new estimate is that 818,000 fewer non-farmer jobs were created in the period ending in March 2024.
This is amazing for two reasons.
1. They’ve been lying for a year about Biden job creation.
2. They’re dumping this data just in time to justify a Federal Reserve interest rate decrease for the election. https://t.co/p5D8aqT7EW— Ben Shapiro (@benshapiro) August 21, 2024
The downward revision set up the Fed to cut interest rates to juice the economy before the election.
Former President Donald Trump called out just how “bad” this error was on the job numbers.
In a speech before the revised numbers came out, Trump was crying foul.
“There has been a report that the job numbers over the last period of time were fraudulent. That’s a terrible insult to our economy because we were seeing numbers that were OK, but not great, now we’re seeing numbers that — when they’re adjusted — are a disaster,” Trump said.
Now only a fraction of the American people will know the true numbers compared to the erroneous ones reported earlier this year.
