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Fed’s Data Overhaul for Better Decisions | Richmond News
The Federal Reserve is revamping how it gathers economic data to better track inflation and jobs—critical for keeping the economy stable. Traditional government agencies like BEA and BLS often lag or get revised, and during shutdowns, data can vanish entirely. To fill the gap, the Fed is turning to faster private sources like ADP and Paychex for payroll insights, and tools like Zillow for housing trends. During the pandemic, real-time signals from OpenTable and TSA data proved vital when official reports fell short. For investors, understanding not just the numbers but how they’re…
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