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John Williams: Hyperinflation and Depression – The Hidden Truth Within Our Economic Data

Tom welcomes economist John Williams, the founder of Shadow Government Statistics to the show.

Williams shares his background in economics and economic modeling, which led him to scrutinize government statistics due to their potential inaccuracies.

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Economists have been debating why unemployment has been so high during this recovery.

NEW YORK, May 16 (Reuters) - Federal Reserve Bank of New York President John Williams was interviewed by Reuters on Wednesday.

He became particularly concerned with employment data revisions and manipulation. Despite improvements, he remains skeptical about inconsistencies’ impact on forecasting accuracy.

Williams discusses the misrepresentation of inflation through changes in reporting methodologies, such as the Consumer Price Index (CPI).

This underreporting of inflation affects cost-of-living adjustments and pension payouts, leaving retirees facing significant financial challenges. The pandemic exacerbated these issues with distorted CPI reporting.

He also criticizes the current economic situation’s representation through GDP growth rates, which