Bloomberg Op-Ed Haunts Bide­nomics Apol­o­gist Doing Dam­age Con­trol After Own ‘Sahm Rule’ Dings Biden

For­mer Fed­er­al Reserve econ­o­mist Clau­dia Sahm pas­sion­ate­ly defend­ed the Biden-Har­ris administration’s dis­as­trous man­age­ment of the econ­o­my in a Bloomberg op-ed. Now, she is des­per­ate­ly try­ing to soft­en the blow after her “Sahm Rule” embar­rassed Pres­i­dent Joe Biden. 
Devised in 2019, the “Sahm Rule” is used as a reces­sion indi­ca­tor. It stip­u­lates that reces­sion begins when the three-month mov­ing aver­age of unem­ploy­ment “ris­es by 0.50 per­cent­age points or more rel­a­tive to the min­i­mum of the three-month aver­ages from the pre­vi­ous 12 months.” In July, Biden’s unem­ploy­ment rate rose to …