The Misery Index Approaches New Highs

One chart Bernanke will surely look at before today’s rates decision is the misery index — the sum of inflation and the unemployment rate (via Prag Cap).

This index reached a 28-year high last month. For a little history, the index was created in 1976 by Jimmy Carter’s economists in an attack on Gerald Ford, but it backfired when it spiked under Carter.

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