Cooking the Books! How Government Data Makes Things Seem Better Than They Are

The government spits out all kinds of economic data. Policymakers use it to make policy.

But is it good data?

Not so much.

In this episode of the Midweek Memo podcast, Mike Maharrey explains how the government cooks the books using biased data, highlighting a recent revision to the Fed's "favorite" inflation measure.

These formulas matter because the government can use the cooked data to make things seem better (or worse) than they actually are.

In this episode, Mike also offers "a nickel's worth of free advice" to help you avoid gold and silver scams.