PANews reported on October 13th that according to Jinshi, a new report from the Dallas Federal Reserve suggests that the Federal Reserve and most mainstream economists may have seriously misjudged the job market. The study warns that the Fed and other experts may have failed to correctly interpret the true state of the labor market. If the report's conclusions hold true, it means that the Fed could make a serious mistake by cutting interest rates too quickly and too early while inflation remains high. This conventional view of the job market is skewed because it fails to account for the impact of the Trump administration's crackdown on illegal immigration. This includes the impact on the labor market of the "voluntary departures" of at least 300,000 immigrants since the administration took office, as well as the impact of all those forcibly deported. The analysis also reflects a significant reversal compared to the massive influx of immigrants into the United States just a few years ago.PANews reported on October 13th that according to Jinshi, a new report from the Dallas Federal Reserve suggests that the Federal Reserve and most mainstream economists may have seriously misjudged the job market. The study warns that the Fed and other experts may have failed to correctly interpret the true state of the labor market. If the report's conclusions hold true, it means that the Fed could make a serious mistake by cutting interest rates too quickly and too early while inflation remains high. This conventional view of the job market is skewed because it fails to account for the impact of the Trump administration's crackdown on illegal immigration. This includes the impact on the labor market of the "voluntary departures" of at least 300,000 immigrants since the administration took office, as well as the impact of all those forcibly deported. The analysis also reflects a significant reversal compared to the massive influx of immigrants into the United States just a few years ago.