Is the Fix In for the Fed?

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I know I always say that "the fix is in" — that the Fed knows or fudges the numbers to fit its agenda. Well, the first part of this is "you can't fight the Fed," and the second part is... the election is in 75 days. Despite some setbacks, the PPT — plunge protection team — is going to make sure the stock market continues to rise into the election.

Yesterday's data revision from the Bureau of Labor Statistics showed that employers added 818,000 fewer jobs in the 12 months ending March 2024 than originally reported. Job growth averaged 174,000 a month for the year ending in March, a drop of 68,000 a month from the 242,000 jobs initially reported. 

Now, I don’t have to be an economist to see that they clearly fudged the numbers to make it look like there was more job growth. At the end of the day, this report just provides more ammunition for the Fed’s path to lower rates and serves as evidence of the PPT’s influence.