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Fed's use of 'average' statistics hides a darker economic picture of U.S. split into 2 economies

So-called 'average statistics' are hiding whats really occurring in the U.S., says billionaire Ray Dalio, and prompting policy makers to see a brighter economic picture than the reality.

By Katia Porzecanski, Bloomberg | Updated on October 23, 2017
So-called 'average statistics' are hiding what’s really occurring in the U.S., says billionaire Ray Dalio, and prompting policy makers to see a brighter economic picture than the reality. (Photo: Shutterstock)

(Bloomberg) – The Federal Reserve should more closely monitor the economic struggles of the bottom 60 percent of the economy when making policy since “average statistics” are camouflaging what’s really occurring in the U.S., billionaire Ray Dalio wrote in a report Monday.

Dalio noted wide disparities in factors including labor, retirement savings, health care, death rates and education between the top 40 percent and bottom 60 percent of the country.

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