Most Important Kass NonInvesting Comment

Most important Kass noninvesting comment:

More to It

Aug 7, 2012 | 7:24 AM EDT
  • Policymakers must recognize a more complete picture of the U.S. economic experience.

But, as many of you will discuss this week, aggregate statistics can sometimes mask important information. For example, even though some key aggregate metrics–including consumer spending, disposable income, household net worth, and debt service payments–have moved in the direction of recovery, it is clear that many individuals and households continue to struggle with difficult economic and financial conditions. Exclusive attention to aggregate numbers is likely to paint an incomplete picture of what many individuals are experiencing. One implication is that we should increase the attention paid to microeconomic data, which better capture the diversity of experience across households and firms. Another implication, however, is that we should seek better and more-direct measurements of economic well-being, the ultimate objective of our policy decisions.

http://realmoneypro.thestreet.com/dougs-daily-diary?published%5Bvalue%5D%5Bdate%5D=2012-08-07#more-from-the-st-20120807

Congress! please stop!  Do something for you constituents besides collect money!

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