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AP’s Boak Ignores Weak Data and His Own Reporting in Creating an Economic Fable

Posted on 31 March 2016

In covering Thursday morning's report from the Department of Labor on initial unemployment claims, one of a relatively few economic reports showing strength these days, Associated Press reporter Scott Boak spread his enthusiasm over the result to the entire economy. It wasn't justified.

It's as if the poor guy has missed most of the pertinent other economic news during the past week, most of which — other than the stock market's recovery from earlier losses this year, which is more dependent on Federal Reserve Chairman Janet Yellen's moods than it is on economic fundamentals — have been anything but strong.