Transcripts of the monetary policymaking body of the Federal Reserve from 2002–2008.

Thank you. Dave, I saw a report last week that the 2000 Census had been adjusted further—by another 3.3 million people—to correct an undercount. And if my memory is not already failing, the rolling forecast initially had numbers that were 7½ million or so lower than the preliminary Census 2000 data. We’re talking about close to 11 million people not counted over a ten-year period. That is huge, it seems to me. Have you had time to look at those data and think about what the revision does to some of the many numbers we look at on income and productivity, for example, and also to the divergence between the household and the payroll employment series?

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