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Fortune

Paolo Confino

Fundstrat’s Tom Lee says Jerome Powell is too dependent on data and it’s hurting the Fed’s decision-making abilities

Tom Lee Jerome Powell James Bullard US Federal Reserve Inflation

Federal Reserve Chair Jerome Powell (Credit: Andrew Harnik—Getty Images)

The Federal Reserve has a data problem.

The problem isn’t that the data is bad; in fact, most of it seems to be trending in the right direction. It’s that the Fed is relying on it too much to make its decisions, Fundstrat Global Advisors managing partner Tom Lee told CNBC.

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