Fighting The Fed? Try This Meaningless Ratio
by Robert McTeer
June 03, 2011
I’ve noticed for some time now that some financial TV guests are so eager to trash the Fed that they will say some really strange things in that service. One this morning probably should win the prize.
The topic was QE2 and job creation. The guest gave an estimate of QE2 purchases to date and an estimate of the jobs created during that same period. Then he divided the latter into the former to get a cost per job. The program hosts went along with that little exercise without qualification.