Economic Translation is an information site dedicated to helping people get a real understanding of the economic and finance data that is constantly being distributed through news media, government agencies, and other sources.
Decisions made by the Federal Reserve, large corporations, congress, and even foreign governments, effect everyone’s lives through the open economy. The cause and effect of these decisions sometimes can take a good amount of time to materialize, but no doubt the effects are eventually seen in consumer prices, salaries, jobs, savings, and investments. However, while these decisions are important to everyone participating in the economy (everyone), it is astonishing how little is known about the economic news released on a daily basis by the majority of people.
Even smart, well-educated people who are well respected in their chosen fields lack the basic fundamental understanding of the economy (though they might not admit it). Often I find myself having conversations with well educated people concerning the economy when I quickly realize that they lack the full understanding of how the central banks, governments, businesses, and consumers all interact together in the economy. These conversations have included so called economists and plenty of financial advisors. From my point of view, when talking about the economy these people are just regurgitating what they hear and read on the news. And there lies the problem, the source of the news.