TechFlow news, October 13 — According to Jinshi Data, a new report from the Dallas Fed indicates that the Federal Reserve and most mainstream economists may have seriously misjudged the job market. The study warns that the Fed and other experts might have failed to correctly interpret the true state of the labor market. If the report's conclusions hold, it means the Fed could be making a serious mistake by cutting interest rates too quickly and too early while inflation remains high. This conventional understanding of the labor market is flawed—because it fails to account for the impact of the Trump administration’s strict crackdown on illegal immigration. This includes the effect on the labor market of at least 300,000 immigrants “voluntarily departing” since the current administration took office, as well as the impact of all forcibly deported immigrants. The analysis also reflects a major reversal compared to the situation just a few years ago, when large numbers of immigrants flooded into the United States.
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